All Forum Posts by: Jacob Beg

Hi All- I am looking for recommendations for a licensed and insured general contractor in PG county MD. I have contacted a few and as an out of state investor I am nervous about using some of these contractors who are quite unresponsive and pretty much disappeared after providing an estimate. I am looking to renovate a 880 sq ft condo needing everything new (floors, paint, kictchen cabinets and flooring and bathroom remodelling).Thanking you all in advance. 

Get a large security deposit as long as it does not violate state law, and potentially ask for larger rent up front. Make sure to inspect the property often and its incorporated in the lease agreement. As other have identified, you won't be able to collect for any damages as I rented to a Canadian citizen who was a great tenant for three years till he did not pay for three months and quietly vacated the property. Also perhaps consider increasing the rent slightly to cover for any contingencies and agree to return the excess upon compliance with lease and vacant possession as long as it is all state compliant. 

@Torrell Palmason I think that's a bit over the top unless the OP had no intent of ever occupying the property. The point is that people's circumstances can change. My friend broke his leg shortly after closing on a primary residence so had to go live with his parents for better part of the year while he recover since his property had a flight of stairs and that he needed help due to the nature of injury. His credit union consented to him renting the place. 

Perhaps you can explain it to your lender.  You could say nothing but it comes down to your judgment call whether you would be able to explain this "change of intent" shortly after the closing through some extenuating circumstances. Imagine, if someone was trying to convince you why they did what they did, would you buy it?

There is a lot to think about here. 

I must say that there was a time many years ago when I was struggling to rent a place and it was someone's ability to offer me housing that saved me from homelessness. I had a job and the rest of it, I was no bum but my young age and lack of credit made me a high risk till some landlord considered that as an 18 year old with two jobs and full time college, I was exactly the type of person who won't mess up. 

Not long ago, I had a chance to return the favor to  a young couple who were rejected by at least 7 landlords because there were multiple applicants who were better qualified. I picked this couple over other better qualified tenants because someone gave me a chance.  I am sure there are uncountable stories of goodness on part of the landlords that go untold. There is a degree of service in being a landlord so it is naïve to dismiss the counter narrative. 

So there is a degree of service in being a landlord and it will be naïve to dismiss the counter narrative.



So there is a degree of service in being a landlord and it will be naïve to dismiss the counter narrative.

Hi All- 

So it is extremely difficult to find great flips in my area so I am forced to look elsewhere. I have spotted some good opportunities and even bought one as the numbers were attractive. In my enthusiasm, I overlooked an important element about getting a reliable, trustworthy and affordable local rehab crew. I am in no position to travel to the property due to personal obligations and its simply too far.

I have tried to work with contractors via face time and other remote methods. I am finding the process extremely frustrating as some of the contractors show up, provide an estimate but disappear afterwards. I was looking to do the project with one general contractor but am founding that it is easier to find individual local tradesmen (Hvac, plumber etc). I still prefer to work with someone a  reliable GC who can be my eyes and ears on the ground. This property is a condo that needs rehabbing (kitchen, bathroom, flooring, paint, hvac etc) down to lighting/plumbing fixtures.

 I know some seasoned flippers claim to flip properties remotely throughout the country, any suggestions? Thank you all in advance.

Hi All:

I am looking for recommendations on desirable areas in or around Baltimore. Any particular cities, towns or subdivisions that are in high demand for buyers and renters. For example, what are some of the areas that are considered safe, clean and have good schools. I am looking for better yields and the real estate value is cheap enough or at least much cheaper than NOVA. Thanking you all in advance. 

Have you tried Bay Property management group? My experience with them is that your experience is dependent upon which PM is assigned to your portfolio. My recommendation on them is “neutral”. Not overly positive or negative. 

@Ned Carey That is quite clever. This is why BP is so useful, the collective knowledge of others. 

Had another one yesterday offering 8k upfront.  Wanted to meet then and there and just “loved” the property but went all mute when I reminded that I need all the income docs and reference checks. Had a funny feeling that there was some connection with the other one or I could be wrong.

I think there is a misconception with certain tenants that providing a somewhat larger rent/deposit will guarantee a rental. I am sure it’s also a gimmick to con someone who is desperate to rent a difficult property. 

I definitely think I had a lucky escape. Those who furnish fake docs must be setting themselves up for criminal charges if they are committing a fraud by misrepresenting their financials.

@Joe Splitrock great suggestion about a company email for income verification. Adding that to the tenant screening list. 

@Account Closed

I agree with most of it. I genuinely liked this tenant, but the inability to produce bank statements to prove income and unable to provide W2's so I can confirm there the employer appearing on paystub is a genuine one and has a Fed Tax ID, was a real concern. 

In this case, employer is based out of a small office in a shabby building and there is no real way of tracing the employer. The HR guy is supposedly the owner as well. 

Personally, if someone is up front about their situation I will work with them. I got cold feet because she could not explain when she was paid last, she makes 75K but cashes her checks, her previous landlord is deceased, she is using a mobile phone which is one of those voice apps. I became convinced that the paystubs were doctored. 

Evicting a tenant is no problem, been there and done that. But there are people who are master at conning the system by delaying the whole judicial process, filing spurious appeals and all that.