All Forum Posts by: Joe Giusto II

I have found it harder to rent out the apartments than the town homes in the Curtis Bay / Brooklyn area.  

But it does also depend on the block.  

@Asif, the biggest challenge is finding quality tenants.  I chose to invest there because I am familiar with the area and the low cost of entry. A good property manager would help, but I manage my own.  

Most of my properties are in Curtis Bay / Brooklyn, but I agree with Andrew that it is not for the faint of heart. 

Either no one is doing it or it is so good that they want to keep it a secret.  :)

I am thinking of converting my 5 BR rental to renting rooms by the week.  I'd like to hear from people who have done is successfully.   How do you handle things like, keeping common areas clean, what to do when tenants don't get along, and other pitfalls to look out for.

@Brandon Turner If I had the cash on hand, I would not need the loan.  What are the advantages of locking up the cash in the bank and paying 2% for your own money?  I am making the assumption here that they would not let you draw it out until the loan has been satisfied.  

I have heard that I will not be able to get a loan for under 50K on investment properties in MD.  Can anyone give me some insight on why that is, even that the properties have good cash flow?