All Forum Posts by: Chin P.

Originally posted by @JD Martin:

I have a house right next to a RR track. I thought it might be a problem but the tenants, and neighbors, tell me they don't even notice the train going by. It is gone in about a minute and it's not real loud inside the house. I suspect the fire station is the same issue. 

 Thanks JD.  Good to know your experiences.  That's sort of what I see online. A few people can't take it but most by and large get used to it and don't notice.  Asking the neighbors is a good tip to get their input.  Also I've read in some jurisdictions the fire houses don't turn on the sirens right away in the middle of the night as they leave but turn the lights on first and then the sirens once they hit major streets.  So asking the firehouse it's policy is another thing.  That helps with actual effect I think but still leaves a perception problem with newer perspective renters.  

@Jane A..  Thanks. Definitely would have to figure into the calculation.  Just trying to get some gauge of how much an issue something like this would be to help estimate the impact.

@Matthew Paul  Thanks for the input.  That's sort of along the lines of what I was thinking and could find from Googling.  But I wasn't sure how low the adjustment would need to be.  

I was looking at some properties last week and happened to see one right next to a fire station.  That got me thinking about what effect something like that would have on the ability to rent out units considering the potential for noise.  Does anyone have experienced then can share trying to rent out units next to fire stations, police stations, and hospitals where you might be getting loud noises at all hours.  I'm thinking maybe depressed rents, long vacancies, maybe some more unusual types of tenants that would be okay with that.  But I'm just speculating.  I wonder if anyone could share their experiences.  Thanks.

Ditch the agent.  Sounds like she's more interested in her commission than your well being.   What does she care if you get hosed by this deal.  Your agent will have already collected her fee and she's onto the next person who takes her "advice". 

It's one thing to be flexible on certain terms when there's cause to get a good deal done. For example, like some have suggested you or your agent could do the work to obtain complete to estoppel directly with the tenants.   The NDA you suggested is also a compromise.  Maybe collect some respected source materials that show you aren't crazy to ask for such documentation.  It's often said that no one will care about your business as much as you.  I think you're experiencing some of that first hand.

If you think the deal is sweet enough and the risk acceptable, than by all means proceed.  But if you have serious doubts or the deal is already tight, then consider caution.  Often in deals it's a judgment call about whether an issue is significant enough to kill the deal or not.  You're in the best position to decide upon your personal comfort level.  

The local REIA near me did this too. Had the rehabber's contractor and real estate agent present also. Presents an interesting overview of the project from all perspectives. I unfortunately had prior commitments and couldn't attend, but think it was a great idea.

Agent is definitely off.  If the agent is so keen on trusting the seller, then have the agent put her commission in escrow for a year and if anything is off in the seller's numbers her commission takes The hit.   

To me this kind of response either raises huge red flags or indicates a bad agent.

I would never ever just trust the seller's numbers without some sort of documentated substantiation or my own research verifying the information with vendors and tenants And preferably I would have both.

I was thinking along the same lines as Jd Martin. Those wall mounted ductless systems are pretty much the standard in lots of Asia, work pretty well, and I think from optics look a step up from window units.

Thanks @Jonna Weber.  It's my first post asking for something and so I wasn't thinking about key words.  Do you know if I have to repost using key worlds like Maryland Real Estate Agent in my post or having used words like that in your and my replies is sufficient.  I assume that I don't need to repost, but could be wrong.  Thanks again for the tip.

Hi, I was looking at a property that I was interested in seeing this weekend in northern Calvert County MD close to Dunkirk and Owing MD. Can anyone recommend a realtor knowledgable in that area that could show me the place, preferably an investor friendly one as it's a bit outside my normal area of focus and I'd want someone who could help with getting a read on the local investment and rental market. Thanks for any assistance.