All Forum Posts by: Heath Thomas Jr

 @Andrew Nugent

A few Easy ways to determine rental rates are:

1. Rentometer.com, this takes the neighborhood average rents. 

2. craigslist search the zip code and see what quality houses are going for in terms of rent.

3. The best way is probably actually calling Property Mgmt companies, They should know the street and neighborhood well. and can give you a quote. 

Be careful with the first two options, as you know Baltimore is block by block. So because one street rents for 1400, doesn't mean the house the next block over will do the same. 

@Andrew Nugent

I'm looking to connect with Investors who invest in Old Town Alexandria, VA

I have a lead on an off market property and would like to pick someone's brain about it. And possibly wholesale it to them. 

I am very familiar with the Old Town Area, just curious as to what investors are paying and if this truly is a good deal. 

@Russell Brazil Thank you for your speedy reply. Before when we were making offers, one of the realtors we work with had the EMD made out to different people.

Thanks!!!

@Russell Brazil Thank you, Maybe I'll do that to save some time. Additionally, I've been asked for follow- up documents quite frequently. I.e. POF, and EMD copy. Both of these I find to be absolutely useless. Especially because I'm not using cash, I'm using an HML which anyone can get a POF for.

Can I just not provide those docs when they ask them? All agents must present all offers to their sellers, correct? Would it really make my offer that much weaker if I didn't include those things?

I just feel like it'll be burning through my checkbook writing out EMD checks.

If you aren't going through a realtor and want to make quite a few offers. Is it acceptable to use a short Letter of Intent rather tan the full purchase and Sales agreement in MD? I assume it is because every realtor must present every offer to their clients.

For what it's worth... If you are a broker, you may register with more than one brokerage firm. At least in Maryland.  Broker, not salesperson..

Hey all- Designing my SOW for a new project. Our last project didn't have very many useable doors throughout the house. 

This new one has close to 10 interior doors. My question is: Is it easier to refinish/ paint the existing doors to have them go with our color scheme, or should we just buy new ones? 

Keeping in mind we will be adding 2 new doors so they would have to match, which I think we could find easily. 

Yes, definietly answer them. And answer honestly. They may have many clients to chose from, and you dont want them to blow younoff because they think of you as shady, difficult, or not seriouse.

My partner is an agent. He prefers not to waste his time with clients who may not be serious. It's okay to be a newbie, just be up front with the agent.

You could also check the purchase and sale contract. Look for a section about personal property.

All personal property likely conveyed with the home. I believe when a bank forecloses, they say you have X amount of time to remove all of your personal property. After that the bank owns them.

I've heard it can be difficult to find traditional financing to refi out of HML in Baltimore City. This is because of the low prices and sketchy streets. Is that just for single family homes?

I'm looking in to some 3-4 unit properties. The Refi would be over 100,000. In a neighborhood like Garwyn Oaks or Howard Park. Do you think I would have a difficult time Refinancing out? Keeping all else constant. (i.e. Credit, income, etc.) is it easier to get financing for true commercial buildings 5+ units?