All Forum Posts by: Monica Marusic

@Ozzy Sirimsi the house is in Baltimore City, I also found some work needs to be done on a couple of doors.

Thanks

Anyone has a good contractor they could recommend in the Baltimore, MD area? I have a rental unit that needs carpet installed.

Any referrals would be appreciated!

Good morning everyone,

I'm looking to purchase a potential rental property in this location Baltimore, MD 21212.  It's close to Loyola and Notre Dame university between Homeland ave and Beaumont Ave.

Could anyone give me some information about this area? I walked around at noon and saw lots of renovations happening, some boarded houses but overall clean and nice neighborhood.

I appreciate any feedback!

Thanks

Good afternoon! Could anyone recommend a Real Estate CPA in Baltimore?  My husband and I just moved here and need a good professional to do our taxes this year.

Any info would be appreciated, Thanks

We have offered a $250 off the 1st month rent for 2 different units we own and I worked like a charm! everything stayed the same 1 month sec. deposit, etc.

We added this to the listing saying $250 off 1st month's rent if application is submitted within 24 hrs.

If you buy such property and you plan on doing renovations or any type of work that requires pulling a construction permit the current open permit process needs to be closed.  First, I would hire an inspector to find out if the tank was in fact removed or not, like you said, the removal may not have happened because it could cause contamination.  Or maybe the owner realized it would be too expensive to remove after he pulled a permit.

Whether you renovate the property in any way or not, if you purchase this property it will be your responsibility to finalize any work related to that open permit.

I suggest you contact the construction permit office for the county this property is in, they can give you all the information you need and you can also try to contact the previous (or current) owner?? or whoever pulled the permit and figure out from there what you need to do.

Hopefully you didn't purchase yet, get all your information and then make an educated decision about buying or walking away.  Just my thought.

So I could do it now even if I already received my return from both state and federal?

As far as depreciation recapture is concerned, you are taxed on the depreciation you took (or should have taken, whichever is higher) for the rental units. This tax is not avoidable if your sell the rentals in a taxable even.

I'm glad I came across this thread @Dave Toelkes.  I'm a new investor and just filed my taxes, I chose not to depreciate my 1st rental, which I bought in oct 2016 because I thought that way I would not get hit by it later.  Could I do the depreciation for last year and this one the next time I file taxes?  Thanks!

Good afternoon everyone!  I have a potential tenant who applied a couple of days ago.  She is a 50 or so years old who would afford a 100% or the rent , she has indicated in her application that her daughter (30ish) and granddaughter (11) will be living with her, they are under the occupant section of the application.

This lady has a clean record, good credit score and stable job with the county public school system.  My question is: should I be ok renting the unit with her being the only one responsible for the rent? or should I include her daughter as a co signer in stead of an occupant?

Background, credit and all other checks are being performed now for the daughter, will know the results soon.

Thank you

Woooooww! That's amazing, I love your story and I hope one day when I have kids I can do the same.  Now I feel like I started my investing so old compared to your 12 year old!

Good job both of you!