All Forum Posts by: Daniel P.

Having an attorney review the lease would be the best option since it has not been done in a while and laws do change. I personally use the VA Association of Realtors lease provided by my Realtor and just add addendums to it for items that I care about.
Also, if you are not happy with your current Realtor you can find someone else unless you have a signed contract.

@Account Closed there are many options to find deals. It doesn't have to be on the MLS. In fact, many great deals don't make it to the MLS. I know I have had some deals presented to me from folks in my network before ever being listed. So I would say utilize your network. In addition if you see properties that you would like to own, it doesn't hurt to reach out to the current owners to see if they are interested in selling now or potentially later down the road. What is the worst they can say, no?
Point being, don't stop looking for deals just because you don't see them online. Real estate is a personal business (in my opinion) so don't be afraid to go out there and meet new people and utilize the network you have. 

@Account Closed There aren't a lot of multi family places in Frederick? I haven't looked in that area as I don't want to be a landlord in Maryland but you could try to find some deals that aren't on the MLS if you want to stay in your neighborhood.

@Ben McMahon and @William Brown I am in Winchester and would like to sync with you all to see if we could all help each other. You can send me a PM and we can setup a call if you would like.

That is what we I am doing currently but as we grow I am evaluating the different vendors out there to see what works best for me when I need it. I track my expenses in Excel and my accountant said I could just provide them that for now as my ledger.

I would disagree on the umbrella policy. All it takes is 1 lawsuit. I personally don't want to lose my personal assets because someone sues me hence getting the umbrella policy. Understand that you are still at risk, if the lawsuit wants more than what your umbrella policy covers you are still risking your personal assets (house, car, investments). 

Besides, umbrella policies are cheap so I would recommend just getting one.

Investopedia's definition of an umbrella policy:

An umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of the insured's home, auto or watercraft insurance. It provides an additional layer of security to those who are at risk for being sued for damages to other people's property or injuries caused to others in an accident.

Just my opinion here. 

Welcome to BP!

Congrats!

I personally like getting 2 instead of 1 but there are many other important items that I would want answers to before I could endorse one over the other. With that said, you should do what you feel most comfortable with (in my opinion).

Could be time to find a new realtor. I know if it was me, they wouldn't have been my realtor after the 1st deal they refused to show to me. I say this because I do most of my business with 1 realtor. We have a business relationship and we understand if 1 property doesn't pay much, certainly others will so as the old saying goes, "it comes out in the wash".