All Forum Posts by: Martin Fletcher

Hi Mike. I would be interested in hearing more about what you are doing. Please e mail me weekend dates when you might be available for lunch in Frederick. Thanks Marty

Hi Shane,  Welcome to BP.  Cecil County is a great place and there are opportunities across the Delaware line as well.  Sounds like you may want to look into house hacking. Like others above I would recommend the BiggerPockets Money podcast to you. Also, you may want to get Scott Trench's book "Set for Life." Best Wishes, Marty

Hi James. Looking between Newark and Middletown. Home inspection for a townhouse. Best Regards, Marty

Can anyone recommend a property inspector in Delaware? Thanks

Hi Ammon,

I recommend staying in school and getting your degree.  You will likely never regret getting a college degree, but might very much regret not getting one. The four years of college will go by faster than you can image. By studying business and finance you will learn many things that could help with your real estate down the road. While in college you can certainly also pursue opportunities to mentor or volunteer with those actively working in real estate as some of the others have suggested. 

Good Luck and Best Wishes,

Marty

My wife and I purchased her parents home and rented it back to them. We did this to help facilitate their retirement as we are able to rent it back to them at a discounted rent that works for their budget. So far it has been a win-win. They are able to stay in their existing home and enjoy some increased cash flow. It is not costing us much because the rent covers most of the interest on the mortgage. We cover the taxes and they take great care of the property. In the long run we figure that the property will appreciate and if it does we will get back some of the currently slightly negative cash flow from our end. And, if it does not, we don't care because we are happy that they are happy. We did go through all the formalities of having a lease etc.  Best Regards, Marty

Hi Bill. I suggest reaching out to your local Farm Credit Bank, given the nature of the property. Best Wishes, Marty

In a somewhat similar situation, we had the trust purchase the new property with a family member individually guaranteeing the loan. You might also consider the reverse, individual family members buy the property and the trust either guarantees the loan or loans them the down payment. Either way, it's not the typical loan structure so you will likely have to go to a community bank that is going to hold the loan rather than a bank that is going to flip the loan into a mortgage pool. Good luck and best wishes.

I would appreciate any recommendations for a home inspector that covers the Frederick, Maryland area.

Can anyone recommend a property manager covering Frederick, Maryland? I am looking for someone who manages individual rental properties (townhouses, condos, and single family homes). Any recommendations would be appreciated. Thanks