All Forum Posts by: Jenni Utz

Don't second guess yourself, trust your instincts, and go for it.

Have they explained to you why they need to extend the escrow timeframe?

I like Lakeside Title. They have many offices in MD, and can handle wholesale deals flawlessly.

I think unless you are going to hire a full service property management company to manage a property for you, I would screen all of the tenants myself. 

A qualified manager who would also manage the tenant can handle the full screening, and hopefully would have a strict criteria. 

Other than that, if you have to deal with the tenant and all of their potential problems, you should put in the time to screen them. 

Thanks, I hope it helps. As long as it’s a reputable company who sends the test to an accredited lab, I don’t care who they use.  We don’t allow them to do the at home kits, and I do not have my company do the tests. 

Most investors look at the 1% rule. Rents to purchase price. Anything off from that usually doesn't make sense. 
There are other factors that I like to look at, what type of financing? If I can get the owner to hold the entire note and I don't have to go through a bank and have the loan on my credit, I may be willing to go a little higher. 

Or does the property have everything new, and the repairs will be minimal for years to come. 

In my opinion, this is a general rule, but I do feel if you can negotiate other "more favorable" factors into the deal, then it may make sense.

Awesome! Congratulations. I look forward to hearing the updates.

We use Lakeside Title. They did a great job with us for our wholesale deals, and we have used them for a lot of our other real estate transactions. They have offices all over the state, so it is very easy to work with them!

A couple things: I would have someone take a look at the HVAC system to make sure it is running properly.

In all of our leases we add in an HVAC Maintenance fee. We set the tenants up on an automatic filter delivering service through a great company called Second Nature! I would highly recommend this as it ensures the filters are being changed on time.

If the tenant is complaining that there may be mold, we allow the tenant to get a mold test conducted by a professional service. If the levels come back within normal range, the tenant pays for the test. If there is a presence of high levels of toxic mold, the landlord will reimburse for the test and remediates the issue.

I would look for the number of properties on the market for sale. A buyers market has a housing inventory of more than 7 months. A sellers market has an inventory of of less than 5 months. A neutral market has an inventory between 5-7 months. Currently in my MD market, our inventory has been hovering around 1.6 months.