All Forum Posts by: Jamal L.

Try Dunhill they are located in Florida but provide list nationally and allow you to filter your list with just more than absentee I.G. 50% or more equity, amount of years owned, etc.

@Kristopher Lamy

For those areas the price isn’t bad. The house would need to be on the modern side in most cases though

Hey Doug If you are still looking for a good and reasonable contractor lmk dm me

@Scott Kidd

Here is a section inspection check list From HUD

Section checklist

and the rates from 2016 which have increased since then 

FMR History for Baltimore city, MD

* Indicates components of the area's geography changed from the prior year to the starred year.

@Nick Pisano I would def find out per zoning moving forward. They are being more thorough with inspections and zoning. The last thing you want to do is have a tenant that can get over without paying rent (if they were to stop paying for any reason) on a technicality. Rent court is crawling with Pro Bono Lawyers that feast on investors mishaps and slight overlooks when it comes to the legality of a rented space. Ask me how I know..... 

@Robert Nelson 

What strategy are you looking to implement and areas are you considering buying are two questions I would have a greater understand of before I purchased any property.

Hello BP just an update on a property that we sold with a tenant in place. Someone jogged my memory of this deal recently and I wanted to update those who had chimed in, on the status of the result of this particular deal. 

 I ended up wholesaling the deal. The tenant has been there to date and has yet to miss a payment. The investor had an inspection done and turns out the property was in great condition, it could use some upgrades but the owner is waiting until the tenant moves out to do any of those. Turns out the tenant retired from the state and loves the area because her mom who is elderly lives on the next block over and she (tenant) assist her. This was definitely a diamond in the rough, as at this point the buyer has collected 3 years of payments without any vacancies and is just a few months short of totally recovering her initial investment. I know because I manage the property. Some real estate stories do have happy endings after all :-)

@David Johnson

The process starts after a tenant selects your property to rent. A good source to list your property on for section 8 tenants is go section 8 dot com (one word). The voucher holder (section 8 voucher) usually has a deadline before the voucher either expires or has to be renewed usually. Afterwards an inspection will be scheduled to inspect the property in question. Typically 2-3 weeks before an inspector is scheduled to come out. 

@Matthieu Newton

Ask him is that the best he can do?

Usually contractors are looking for work and understand that they have competition and usually would rather get more work from one source. You typically can get a whole house painted for around $3k give or take per the square footage.  

all the expenses on painting add up to around roughly $4.2k you can save $1.2k there alone 

You can get some items cheaper such as the dehumidifier and other priced items.  

Contractors often work around your budget and will add on items to make sure they hit your budget if you tell them how much your budget is up front. 

In this case work backward since he already gave his number. Let him know you are working with half of the amount he proposed and see what he can make happen based on your budget. 

Prosperous Investing to you...

@Shannon Fong

A seller can have a plethora of reasons for selling. Ex. Need cash for other investment. Tired landlord. Owes other debts and this investment can resolve them. Not one of those answers where issues with the property. I personally   wouldn't concentrate on why they are selling.  But, rather why and what am I buying? If you look for a reason the seller is selling it might not make sense to you or you may pass up a good deal based on speculation. However if you concentrate on if it is a good deal when throughly analyzed and make your decision based on that it may serve you well. 

At that price I would expect it needs repairs. 

Ask can you speak with the tenants in reference to what's the issues they want resolved. If the owner is comfortable with that. 

Have an inspection done on the property to see if there are any major factors that would be too expensive for you to repair. 

See if it has a lead paint inspection. 

See who pays the electric bill 

Ask to see the lease agreement for both tenants

See if both tenants are paying their rent. 

See if they have any on going disputes with the landlord in rent court. 

See if it has passed Baltimore City inspection new requirements for rentals. 

Do your homework. 

Keep in Mind there are good deals out there, But so many people are skeptical of what the problem might be they neglect to do there due diligence and make sure before they go assuming, and you know what they say when you assume.....