All Forum Posts by: Brandon Allenczy

Hey Everyone!

Just a reminder about our Hagerstown Meetup tomorrow at 4pm at Antietam Brewery!

I look forward to seeing everyone!

Working on it! Our deal flow has been a bit slow. We closed on Georgia Ave which was great and I'm working a few leads in the area to try and get stuff going.

Hey everyone!! I had a thread for our Hagerstown Meetup this Saturday but BP needed me to create an actual event. So here ya go!

Tomorrow, 4pm, Antietam brewery, Hagerstown MD. Come out to talk about successes, failures, goals, and everything in between.

Looking forward to it!

@Charina Pinder Welcome!! I live in Hagerstown and feel the same. The most important thing to do is just to take SOME action, so congrats on that! We hope to see you at the meetup sometime and look forward to connecting!

Wiiiiillll!!!!

Been a while buddy! Hit up Robert Ombres. He's more in Asheville but took me out to some showings and hooked me up with properties further out near Maggie Valley and such. Absolutely fantastic guy that is an investor as well.

Hey BP!

Does anyone know if there's a specific form I have to fill out to make changes to a current lease? We made an agreement with our tenants in North Carolina to end their lease a few months early. I've researched and it doesn't look like there's one specific form to fill out.

Could I just type everything (very specifically and formall) on a word doc and have both of us (landlord and tenant) sign it?

Thanks for your input!

@Nathan Gesner I know this is an old thread but that's great advice! Hopefully questions like that and extra screening will mitigate some of this.

For context, my wife and I just moved into our first househack. We're in the bottom unit and it is unreal how much we can hear above us. We're personally fine with it, I'm concerned about when we move out and rent both units. I guess one thing that is good is that our duplex is in one of the best neighborhoods. Tenants might pay a premium to be on this side of town, even if they have to put up with a little bit of noise. 

We'll see how it goes!

@Manuel Villegas The best thing to do would be to wait until the rehab is finished so you can pull as much capital out as possible with the refinance.

One option would be to take out a loan for just the rehab using private money or hard money. Since these are usually shorter term you'd probably have to find a way to get the units vacated, rehabbed, and find new tenants within 6-12 months. So you'd have to find a way to get the units vacated and turned before refinancing and paying that off. 

Another option would to be to bring in a partner to fund just the rehab. This could open more doors by not having to give the tenants' notice, but letting the units turn naturally and rehabbing one by one. Then when you refinance you can split equity/cash flow however you guys want.

The biggest thing is just to keep in mind that you want to be all in (Purchase price + Rehab cost) for less than 70% of the ARV.

Sounds like you're crushing it man, congrats on your first one!

@Dustin Mullins I wasn't aware of the website, that's awesome! I'll be sure to check it out, thank you!

So, should I have the failure to pay rent thrown out, and then just plan on filing the warrant of restitution on the 31st? Or would it harm the process if I just leave things the way they are now and file the warrant at the end of the month?

Thanks for the response!

Hey BP! I posted this in a different forum but haven't gotten any responses so I wanted to try here.

I'm looking for some information for my duplex in Hagerstown, MD. Our upstairs tenant has not paid rent for February or March. I filed for non-payment of rent on Monday, and the set court date isn't until May. The tenants lease ends on 3/31, and I gave her notice back in January (60 day notice) that I would not be renewing her lease. The problem I foresee is the tenant holding over until the court date in May.

My question is this: can I file for holding over after 3/31 if I already filed for non-payment of rent? This would mean I have two 'complaints' about her at the same time. Is this doable in Maryland?

Also, let me know if you have any recommendations on real estate attorneys here in Hagerstown.

Thanks for any advice!