All Forum Posts by: Shadonna N.

@Paul Son welcome to BP.  This is not Monopoly, you do not need a top hat, 1000 houses and hotels on Baltic Ave in order to achieve your goal.  What is your magic number?  The higher appreciating areas in the DMV are kinda is in the Pacific Ave (back to Monopoly) range and you can find some good deals.  It's great you are successful with two business already, sometimes the good deals are cash only.  Build up you network, the BP community is great.  Good luck on your journey.

@Ron Gallagher we are at ground 0 and it is a valid concern.  Insurance can only do so much.

If you are in DC this is an absolute violation and against the law. There is no where in DC where a 4 BR is going for 1k. Just list your property, state that all tenants are welcome. DC housing provides monthly meetings educating landlords. They are very informative. If you rent is too high you can always negotiate on an agreeable rent. Work with a professional who knows the law. Good luck.

@Jason Pennacchio how did you handle repairs?

Congrats.  Good Deal.  Can the mom and pop stay around and help you manage?

Hi @Denny Christner, welcome. I use MidAtlantic IRA but @Dmitriy Fomichenko is our IRA expect and I believe he has a list you can reference.

 Educate your client?  How does a realtor not know that?

You can definitely do both.  I would invest in the opportunities that are available in those markets now.  Once you have them stable you can leverage one of your investments and go back to school.  Also consider the school the grad school, it could be more.  Good Luck.

Lima One offers a non-recourse for under 300K.

Agree, you need a property manager.  Although nice you do not need to do introductions among tenants nor should you host peace treaties.  If Unit 4 is crazy who know how they may react to you getting involved.  They may think you are taking Unit 3's side.  Check you lease and see if there is a way to evict for the previous behavior.  Let a property manger handle it.  Good luck.

@Cecilia Constantine it depends on your appetite to take on the work and manage contractors.  Not sure where you are located, you could possibly get a handyman to take on the job.  It does not sound like it is more than a week's worth of work.  Why do you need to replace door frames and baseboards?  That is not under the general cosmetic category.  As far as the property management question, I personally prefer to have a property management company and keep things arms length.  You can find the tenant and turn the property with the tenant in place over to the management company.  You could possibly avoid the acquisition/marketing fee.  If the couple you referenced told you that you need to replace door frames and baseboards you need to continue your search.  If the list of changes are all tenant requests and you agree with them you may want to let a property manager do some vetting.  Good luck.