All Forum Posts by: Jamal L.

Hey BP Fam, 

Im looking for some creative options to lease a commercial building I would like rent for on a long term lease. I will need some build out time approx. 30-60 days and would like to have rent reduced or make no payments until the renovations are completed. The building is about 15,000 square feet and I need about 6-8 months before I can start making any funds on the property. Mainly because I have to pass inspection from the accrediting body prior to staring the business in the front portion of the building approx 3000 sqft. If we pass inspection and everything goes well I would be looking for a 10 year lease, with another slow progression on rent until we finish the remaining portion of the property. If you have any insight or ideas for the structuring of the lease, I would love to hear you feedback. Thank you 

Hey Matthew 

If you are investing in Baltimore, make sure you have all your duck in a row for buy & holds. Rental license, Lead inspections etc. Baltimore is very tenant friendly when it comes to rent court. The up side is the rent ratio on ROI is probably one of the highest in the nation. If you have any questions you can hit me up.

@Robin Thornton

Congrats on taking action with your investment. I concur with most people on this thread about contacting 311 and report the trash and grass. This will alert the owner that he/she is being fined and he/she will most likely take action to prevent multiple fines. Hopefully the landlord then passes the fine on to the tenant and the consequences of being fined changes their behavior.  Good Luck 

 @Ozzy Sirimsi While you are correct with you assessment of the area being not the most desireable and price point being a little over the ARV. There can be success with renting or creative finance options in that area. We have had success with renting in these area. There is a steady and growing population of hispanics that we have experienced paid timely and took good care of the property. This property could modestly generate $1.8-$1.9 a mth in rent based on our experience in the area. ~One persons trash is the next persons treasure

Hey Lindsay,

It also maybe attractive if the property was producing income for the buyer and marketed as a turnkey investment property. We do property management in MD as well. If there is anything we assist with please feel free to reach out. 

Hey Dalyn, 

Congrats on the completion of your project. 21206 is a great area (for the most part) to rent. Depending on the area you can get some pretty stable tenants there. If you are lookin for recommendations, I would have to recommend Living Legacy PM. We do tenant placement and property management in case you would rather self manage. Feel free to check out our website for more details. 

Happy Investing!

Yes, I do PM me for his info. 

Yes, It is more than what most landlords are requesting. As an alternative you could as for a co-signer on the lease with acceptable credit or only except individuals that meet a certain credit score threshold.  This way you get the security you are looking for and meet the market rate most tenants can pay. 

Just do it! by Nike!!! ;-)

1. Become a Landlord
Ideal for: People with DIY and renovation skills, who have the patience to manage tenants.

What it takes to get started: Substantial capital needed to finance up-front maintenance costs and cover vacant months.

2. Real Estate Investment Groups (REIGs)
Ideal for: People who want to own rental real estate without the hassles of running it.

What it takes to get started: A capital cushion and access to financing.

3. House Flipping (a.k.a. Real Estate Trading)
Ideal for: People with significant experience in real estate valuation and marketing, and renovation expertise.

What it takes to get started: Capital and the ability to do or oversee repairs as needed.

4. Real Estate Investment Trusts (REITs)
Ideal for: Investors who want portfolio exposure to real estate without a traditional real estate transaction.

What it takes to get started: Investment capital.