All Forum Posts by: Dolores Waldron

@Joseph England, thank you for sharing your story !! I know there is a lot going on in Baltimore.  Can you share with us what type of neighborhoods you are focusing on - are they A, B or C?  What areas are up and coming in Baltimore? Thank you so much!

@Rich N., thank you - part of the security deposit is under the tenant that is leaving, I will chat to the others and let them know if they are ok with him moving out they will need to put the new sec deposit.

Thank you !!

Thanks Thomas, yes I agree we need to hold the deposit.

If they do end up getting a 3rd tenant down the road who pays a deposit should I mail him his security deposit?

Hello,

We have 3 tenants in one of our units who signed their lease in September good through Aug 31st 2017.  One tenant has decided to move out and has discussed it with the other two room mates and the two room mates are in agreement and have decided that they will take on the responsibility of the lease between them and may decide to take a 3rd person on down the road.  My question is do I reissue a new lease for the two that are now taking on the responsibility and do we need to refund the person that is moving out his portion of the security deposit ? We technically want to keep one months security in escrow.

Thanks for any advice.

Dolores

@Andrew Postell, thank you for your input, yes, that seems to be what I am reading - endless options :o

Our intention would be to have this as a buy and hold for long term, with that I think ideally we would like it to work with 10% down @ 5% over 30 years...similar to a conventional because that's what I understand best.

Good Afternoon,

I have a seller who is interested in selling his two family home, 750K with each unit rented at 2,300. I'm familiar with this area, he's a little high with asking price so don't feel this is the price I would pay - more like 650K, it's no steal of a deal, more like market price for buy and hold for future gain with a little cash flow now, we like the area very much and know it's a great rental market, the seller is interested in doing seller financing and for us the no's work with 10% down - can any of you share how this could this be structured with seller financing?  I'm not very familiar with creative strategies, I would love to hear some ideas of what could be done.

Thanks so much for any input.

Dolores

I have a seller who is interested in selling his two family home, 750K with each unit rented at 2,300.  I'm familiar with this area, he's a little high with asking so don't feel this is the price I would pay - more like 650K, however I don't have the 25% down to buy it with conventional financing (I have @10%) seller tells me he is open to seller financing, maybe that's why he has higher price point....but I'm not as familiar with creative strategies, any ideas on how I could structure this deal creatively with seller financing  and then pay him off at some point? 

Thanks so much for any input.

Dolores

Yes, very good point ! I will ask.

Good Afternoon BP Community,

We are looking at a two family that seems to also have two studio in law apartments - are there any issues or legalities we should look out for with this type of investment, the plan would be to rent out all units, we would not be residing in it.  I'm not sure if one has to be residing in it to be able to rent out the in-law units.  Any advice appreciated.