All Forum Posts by: Richard Adjou

I'm starting to go through the process now. Trying to convert a basement into a separate unit. Was there any feedback for you during the process?

I wholeheartedly agree with Scott's answer hear. I would probably piggyback on that and suggest reaching out to other local investors and seeing who they are using. They'll probably give you some honest feedback on what they like and don't like 

Hi Kent,

I think Section8 is a great play if you have the patience to deal with a more challenging type of tenant. I manage property in Washington DC and nearly all of our tenants are Section8. Most tenants are tough on rental property but I would caution you to set aside some of the excess rents aside for reserves. This can go towards covering unexpected maintenance costs or damage to the property. Also keep in mind that it can be hard to collect from tenants that don’t always have the means to pay their own rent if and when things happen.

That sounds like something I gotta try. Thanks for the tip! 

Welcome to the community Ben! Lots of great info on the site. I'm an agent and investor in DC and MD as well so feel free to reach out if you have any questions and I'll do my best to help out. I'd like to learn more about Baltimore so happy to talk shop about your area in particular if you have any insights. 

Take care

I have I have to agree fully with Russell, when I first went out to get my license I expected it to be expensive but there was definitely have sense of sticker shock at how much everything cost. And this is especially true if you want to get license in more than one jurisdiction. 

I'm I'm curious about this myself. I would imagine that the biggest and most difficult objection for lease option are getting the seller to agree to the terms in the first place. What does it matter if at the end of the day the contract will be assigned to someone who wants to move into the house? Or is that not the basis of your lease option?

I heard a pretty cool idea for postcard on the podcast the other day (sorry I'm not sure which). The idea was to send a selfie to a seller in front of their house, and saying you want to buy. I wasn't sure how this could be done at the time but I just came across an app that might work.

It's called Touchnote. Basically it works by creating a postcard out of pictures in your gallery. Pricewise it's expensive expensive; something like $2.99 per postcard. And what's cool is you can send directly from the app without having to order in bulk. But I figured it'll make for cool marketing piece once in a while.

Here's a link to the app's website if you want check it out:

https://www.touchnote.com/us/

Let me know what you guys think or if you've found anything better (or cheaper)