All Forum Posts by: Karen K.

I want to find a property to flip.  I plan to take advantage of a hard money loan.  Do I find a potential deal first, then present it to a hard money lender? Or do I find a lender who I can work with, get approved for a certain amount, then find a property that they are comfortable doing a deal with? 

Originally posted by @Larry H.:

This tenant has been late twice in 6 months on her rent and tried to skip out on the late fee the second time. This months rent was $20 short, which is why I went there to begin with. She's always trying to scam something, the dog issue is no different.

We were going to do a new lease and work with her, but I'm not dealing with her anymore.

ouch, she sounds like she is not worth keeping!

Paying a retroactive monthly fee seems a little tough.  Can you prove she had the dog since the beginning?  I know you probably don't look at it that way, but the tenant probably will.  If she's willing to sign a new agreement, that's great.  If not, is it worth the cost to evict, get the house ready for a new tenant an find that new tenant? Its a tough call for you but there could be far worst tenant issues to deal with : ) If it were me, I would tell her that if she wants to stay she will have to pay the $300 pet deposit.  After her contract is up you can decide to renew or let her go.  

I found your post by searching for info. on driving for dollars. I believe (someone correct me if I am wrong) you can hire an attorney or escrow company to facilitate the deal.

an attorney or escrow company

One reason We chose a made up name is because our last name is hard to pronounce. Your sounds good, but you may want to do a LLC name search to see if it's available in your state.

@Russell Brazil this is exactly what I am strongly considering, hanging with a no name brokerage and having someone else handle the transactions. 

My husband and I are starting our Investing business and I recently passed my MD real estate exam. I have yet to chose a broker because I am torn on what I want to do. My primary purpose for getting my license is for the MLS access and ability to view houses without an agent. I don't intend to make a career out of being a Realtor, at least not at this point. If worth wild, I would like to purchase and sell my own houses. I know of the agent disclosure that is necessary in buying and selling my own houses. What I don't know is how to "really" buy and sell homes. My dilemma is that I don't know if I should just hang my license with a investor friendly broker where I can pay a flat fee-low fee/ high-full commission, no help company and "figure it out" along the way (if that's realistic). Or go with a company who offers lots of education, learn to ropes and then maybe switch over later. With these companies, I am wondering if the fees are worth it for my situation.

Read, read then re read :) I had to read through everything and go over it a few times to really grasp the material. In MD, I found the state section of the exam to be more stressful. It was much more specific. I took my course online and found the practice quizzes very helpful. Make sure you really read the questions clearly on the exam. I was advised to "skip-over/mark" the questions I didn't know easily and return to them after completing the ones I did. Sometimes another question will clue you in on the answer for one you skipped or the answer might come to you when you read it again later. Luckily I passed my test the first time around but in MD if you fail one of the parts, it will give you a diagnostics of how you did and what you should study to do better on the next attempt. Good luck :)

Thanks @Kim Coleman, I will check it out!  

My husband and I are starting to build our real estate investing business in Maryland. Bigger Pockets has been amazing so far! Our primary locating is Anne Arundel County but we have a desire to check out other counties as well.  I would love to learn more about the Southern Maryland market! I look forward to chatting and help out when I possible.

Karen