All Forum Posts by: Gehmelle Johnson

Hi Bigger Pockets, Fam! I have been a landlord for over 9 years, I own a multi-unit (4) in the District of Columbia and condo in Maryland, both are fairly easy to rent however, within these years of renting, I have had 2-3 tenants break their lease due to life changes, moving in with boyfriend, roommates part separate ways, etc. Each event, I am caught off guard because, I am not use to this type of tenant. In DC, the district is very tenant friendly, so I want to be very careful, especially as I am managing my own property versus in the past I had my management company deal with it. We re-newed the lease, with a October 2019, expiration therefore, she was not month to month. Reading the dc housing regulations, which are ambiguous-and within my lease agreement there is minor verbiage explaining use of security deposit for breach of contract. However, I do not know if that would hold up in court if it ever got the point. Do I keep the security deposit, due to the breach of the lease, it is a separate issue but, I know landlords do so in this situation. Insight please..

@Armin Nazarinia-Was not planning on doing a LLC, yes I will research Minnesota state laws for rental, etc. I am certain it is different but, don't seeing it being too different from DMV.

@Tim Swierczek  Absolutely! 

1

Thanks John! I plan to get a team together. 

I am a current resident of the DMV (D.C., Maryland, Virginia) in which I own a multiunit (4 units) and a condo. I am not willing to purchase again, in the DMV for it is too expensive! Originally from Minnesota and desire to begin purchasing (flipping) there for it is a steady but, profitable market. I am familiar with neighborhoods so, I know what areas I desire to invest. My concerns are what risks are involved not being on ground when flipping-or investing in a property, what do I need to have in order to be successful as an outside investor?