All Forum Posts by: Paul O'Connor

Good evening.

Looking for contractor recommendations for Harford County, MD. A lot of projects to tackle… electrical, plumbing, general construction (framing, flooring, drywall, porch/deck, bath/kitchen remodel, siding). 

Looking for someone to start ASAP with inspections and estimates.

Thank you!

I’m looking for contractor recommendations in Harford County, MD. Who’s the guy(s)??? Plumbing, drywall, electrical, siding, etc. 

Ok… so I understand tax lien investing as a race to the bottom. Meaning… investors compete against each other, lowest interest rate wins. Right?

Owner has a set time period to pay the back taxes that you paid back in full or they lose the property. Right?

My real questions are… what about any first or second lien holders? Do the banks/lenders have the option to pay you back, with interest accrued or you get the property? How could you win a property has a loan against it for $200,000 (example)? You wouldn’t just be awarded a property when their are lien holders in place that have rights, right?

I appreciate your help and expertise. 

I've seen a few other posts about this, but I've called around and a lot of these property management companies are also real estate brokerages, where these realtors are property managers. They also charge fees that I'm not so sure are commonplace. Is it common for them to charge 50% of the first months rent when a new tenant moves in? Is it common for them to charge $250-$350 for every lease renewal? I thought it was a flat 10% of gross rent... maybe I was wrong. I'm looking for a property manager who doesn't charge all these other fees (does that exist)? I can do the background checks, as long as they can do the walkthroughs, collect rent, do key handoff, and applications. The fees just seem excessive to me... are these pretty standard across the industry? This is my first time shopping around for a property manager.

 What about units over 11 but under 50? Any suggestions for that?

 Thank you Cory! I really appreciate the referrals. I'll reach out to each of them in the next couple of days.

I'm currently in need of a commercial lender to help me with a 1031 exchange that I'm trying to complete. I'm currently narrowing down my potential properties to use for the 1031 exchange with purchase prices between $800,000 - $1,100,000. I'll have 20%-25%+ down payment for the loan. List is narrowed to 5 different markets, all of the properties are at least 8 units. Now sure what the best method is to use, whether to find a local lender/bank/mortgage broker or credit union... or to find a nationwide lender (bank), which I've had difficulty finding. Looking for help finding a lender or any advice that you could give me. Trying to get a pre-approval ASAP, so I can submit my offer(s).

I'm currently in need of a commercial lender to help me with a 1031 exchange that I'm trying to complete. I'm currently narrowing down my potential properties to use for the 1031 exchange with purchase prices between $800,000 - $1,100,000. I'll have 20%-25%+ down payment for the loan. List is narrowed to 5 different markets, all of the properties are at least 8 units. Now sure what the best method is to use, whether to find a local lender/bank/mortgage broker or credit union... or to find a nationwide lender (bank), which I've had difficulty finding. Looking for help finding a lender or any advice that you could give me. Trying to get a pre-approval ASAP, so I can submit my offer(s).

Help me please! I have the opportunity to buy a unique, rural, multifamily and commercial property… but I don’t know the things to look out for or to ask about or what to look up during my due diligence period. It’ll be my first time buying out of state and this type of property (I’ve only bought single family, not multifamily or commercial before and this is a  mixed bag, with a garage, with apartments above it). 

A friend brought of a few things that I never would have thought of:

1. It’s on well water, are there reverse osmosis system(s)? 

2. Who takes care of lawn care?

3. How are utilities paid? By the individual tenants or included in rent? 

4. Is there a public sewer usage fee? 

5. Is there a trash service fee or is that county provided? 

Do you have any good suggestions for things that I might want to ask for/about during my due diligence period?! I really appreciate your help.