All Forum Posts by: Edward Holland

I run my entire rental business (32 units) using Buildium software. its like ~$50.00 a month - so worth it! I can collect rent, post vacant apartments and its automatically uploads to all the websites,  manage finances, it makes tax season very simple, and I can even pay my contractors using the tool! highly recommend!

Not a ton of great options on the market but I am working on an off market 8 unit deal. 

It could be argued in either direction. "deals" like this within a lease need to have clear requirements. The lease should include a frequency for when the grass should be cut OR a maximum grass length - otherwise it may be hard to prove violation of the lease if the tenant argues that he/she is cutting the grass quarterly - or when he/she sees fit. 

That is my official advice for making these sorts of deals with tenants. To address the current situation it would be worth sending the tenant a lease violation letter with a remediation plan (i.e. pay the additional $50.00 or cut the grass). Good luck! 

Im bummed I missed this! Please let me know of any future meetups.

Hi @Benjamin Seibert! I’m actually in town quite often (and travel through Frederick on my way to and from) we should definitely grab coffee sometime! Shoot me a DM with a time that works well for you. 

All the best, 

Edward

Hi @Aaron M., 

that’s awesome, congrats on your first 5+! We should definitely chat soon, send me a private message with what works best for you!

@Russell Brazil Correct, no argument here. As I mentioned in my comment "Landlords are required to allows ESA's" I was only providing advice to promote the most favorable experience... which I also said in my comment. 

I have seen landlords fight for the breed restrictions, and while they do lose in the long run, if we can avoid the whole messy situation in the first place, why not? Unless of course you enjoy a good argument haha. 

Investment Info:

Large multi-family (5+ units) buy & hold investment in Hagerstown.

Purchase price: $650,000
Cash invested: $120,000

13 unit multi-family with a vacant/gutted 14th unit. Plans to turn the 14th unit into laundry/storage in the near future to increase value and monthly cashflow.

What made you interested in investing in this type of deal?

Strong Cash-flow and high demand rental market.

How did you find this deal and how did you negotiate it?

Off-Market offering by listing agent.

How did you finance this deal?

commercial loan

How did you add value to the deal?

Converting the vacant/gutted 14th unit into laundry and storage facility. Re-modeling all units with new flooring and appliances. (cabinetry when necessary)

What was the outcome?

Strong cash flow (3600+/month) before 14th unit renovation.

@Tatum F. to echo what was said above, the pet resume is key, while it's a gray area, breed restrictions have been known to collide with ESA applications. Landlords are required to allows ESAs - I would just suggest that she stay away from any breeds that may infringe on other non-ESA related community rules to ensure a favorable experience in her relocation. 

If she needs any assistances, feel free to reach out. I am happy to help you guys find the perfect place! 

Hi Jake, 

Lets connect! I live in NE DC too - I've been investing in rental properties (mostly in Maryland) since 2018 and have since accumulated a portfolio of 32 rentals. I also operate with very-hands on approach with no management companies involved yet.