All Forum Posts by: Account Closed

@Michael Calhoun thanks so much! I will follow-up on your suggestion.

@Hai Loc I am primarily interested in it because of its low acquisition cost and impression that there is generally less competition. I think it could be a good way to get started with my investing career.

Hello, Everyone!

I am interested in learning more about investing in raw land.  Does anyone have any suggestions about educational materials or online classes that worked well for them?  I know Mark Podolsky has some good information out there, but are there other companies that provide comparable educational material?  

Thanks for your advice!

James

Jeff, it was great meeting you at the networking event last night.  Let's stay in touch!

I work with an investor who had this happen to him in Baltimore. Fortunately, he acquired the properties for such a deal that he actually made money on eminent domain. Lucky guy!

What is the difference between the value of the property and the city’s proposed value? Simple math will let you know if it’s worth dropping big bucks on attorney fees. 

After doing a little research on the topic, I found an interesting code provision in Frederick County, Maryland's Code of Ordinances regarding pest control.  Apparently, pursuant to Section 1-6-45(d), an owner may be liable for performing extermination services prior to renting or leasing a structure.  The burden shifts between the tenant and the owner depending on the number of units.  

The Code states, "[t]he tenant of a structure containing a single housing unit shall be responsible for the extermination of any insects, rodents or other pests in the structure or the premises," but for larger properties "[e]ach owner of a structure containing 2 or more housing units shall be responsible for the extermination of any insects, rodents, or other pests in the structure or on the premises except where infestation within a housing unit is caused by a failure of the tenant to take reasonable action to prevent the infestation within the housing unit."

Are owners typically familiar with code provisions of this nature?  Just one more compliance measure that investors must be aware of.  

Your best chance at learning the legal landscape is always speaking with an attorney. But, should self-directed learning be your choice, there is plenty of information available on the internet to teach you what you need to know. Landlord tenant laws are often codified in one specific title for each state and are available for free online. Although there will be endless other laws that you should be aware of outside of landlord tenant, reading and self-education is a must if you are embarking on this journey.

These rare occasions show the value of having assets held in limited liability entities. Contacting your insurance carrier is a great first step. I imagine they will want you to help provide them with information so they can do their job and assess the viability of any claims.

Good luck!

Thanks for sharing!  I will be sure to keep this on my radar.