All Forum Posts by: Ned Carey
Ned Carey has started 43 posts and replied 15945 times.
Post: Knowing when it’s a good deal
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@Don Konipol I heard it as the 100 house rule. I guess inflation affects everything.
Post: Getting started as a college student
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@Isaiah Huggins welcome to BP. I have no specific tips other than keep reading and listening here and it will start to become more clear.
Congratulations for starting so young it will pay off in the long run.
Post: FSBO, on MLS
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
I am not sure how you list a FSBO on the MLS. It may not be getting showings because it is a FSBO. How would a buyers agent get compensated?
Post: Here's one - woman tries to stop eviction with bees
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
"five counts of assault and battery with a dangerous weapon,"
She should have gotten 1,000 counts. One for each bee
Post: Keep a negative cash flowing condo in this market?
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@Rick Albert interesting thought, I asked the question because buying more might be a yes. It could be an opportunity to buy low. Probably not my cup of tea however.
Post: A Landlord worst nightmare
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@Sharon Porter I am sorry you had problems. However your own lack of due diligence, preparedness and choices were major contributors to our problems.
I rent to section 8 and by and large have few problems. Most tenant problems are due to the landlord not properly screening the tenants.
I don't say these things to be critical of you. I say them as a warning to others reading along so they don't make your same mistakes.
Post: Question For Those Who Scaled
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
My business scaled naturally with time/ Trying to scale too fast can crush a company.
If you have experience and you are really missing good deals it should not be that difficult to find a private lender or partner to work with.
(when I say private i mean friends family or associates. I do not mean professional lenders, sometimes national in scope, that call themselves private lenders.)
Post: Keep a negative cash flowing condo in this market?
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@William Hudson the answer is perfectly clear - SELL . . .
Oh wait a minute there are 8 or 9 on the market now. That does make the decision a little less clear. Let me ask you a question that might help clear it up. If you could buy one of the other units for $25K less than they are currently listed for would you buy it? My guess is no.
So if you wouldn't buy another one at a good price why would you consider keeping yours?
Post: Bank owned (Sheriffs sale) property and owner is
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
@Sai T. see if there is a real estate investors group near you. Ask there who they might recommend.
This is the number one problem in my business. It is hard to find someone who is good and reliable to do this.
Post: Rent raise during lease
- Investor
- Baltimore, MD
- Posts 16,978
- Votes 13,317
Quote from @Zack Whiting:
@Benjamin Aaker it's set at 450 but right under it says this word for word "The Landlord may increase the Rent for the Property upon providing to the Tenant such notice as required by the Act."
Is the specific ACT mentioned in the lease? If not the clause is probably meaningless. IF it does specifically mention which ACT what does that ACT say? As I said before I doubt there is any law which would allow you to raise rent during a current lease.