All Forum Posts by: Richard Carlton

@Enoc Flores Morales My first question is why Baltimore?  Second which area of Baltimore?  What do you know about Baltimore?  I do not mean to sound bad or demeaning to you but you need to be prepared with knowledge as well as with a team of licensed contractors that will pull all necessary permits to do anything in Baltimore.  Baltimore has ground rent, so you do not own the land on which your building sits.  Depending on the area you can easily be throwing good money at a property that you will never get a return from.  Due Diligence is key!  If you can secure a multifamily instead of a standard row house that would be advisable but that can be challenging to locate.  I have friends that have been burned by location, lack of quality contractors that follow the rules in Baltimore, and lost money.  After doing my own homework as well as seeing documented problems from others that I know, I will not look at Baltimore as an investment opportunity as there are other areas in Maryland to find better returns with more peace of mind and security.

You can also shop around by contacting the local area real estate offices, most have Property Management sections that are competitive in their service offerings. I can speak for Coldwell Banker in Waldorf.

Welcome to BP, Sharnita. Where in Maryland are you planning on investing in?

How are the gutters of the house? Are they intact and where do they exit at? Do the downspouts terminate at ground level next to the foundation or do they have extensions on them to carry the water farther away from the foundation? Proper mitigation of rain water via proper placement of gutters can very easily cure the wet crawlspace.  Also was the water discovered after our recent period of 8+ days of rain?

As for the sewer lines have you checked with the local authority to see what they distance of plumbing that they cover?  Do they only cover the main line at the street or do they cover the line from where the house connects to it to the main line?  Find that out before you start to pay for something that might already be covered by your local taxes.

Personal recommendation, invest in quality dehumidifiers due to the fact that if you deal with more properties after this you will need them again.  If you go this route,  get ones that have internal pumps. Place one or two inside the house and do the same under the crawlspace.  PM me if you have more specific questions on such. 

@Sean Fuller Send me a PM when you have a moment, I have some questions and some possible ideas for you but I need to know more specific details.

Welcome to BP, Curtis!  I would recommend to go to the local investor meetings in your area as a means of physically networking and possibly finding a mentor. Feel free to PM me if you have any questions.

Take the time to go to your local group meeting as Mr. Brazil suggested, it is there that you can start building your network.  With any luck and a little discussion you might be able to find As for using Legal Zoom versus a local Attorney, I would recommend finding a competent local Real Estate Attorney as they know the in's and out's of the State and Local laws and regulations that apply to the area in which you are working.  In a nutshell, work with a local resource as they have more specific information to give you than a generic online site.  Montgomery County is not a place to operate without full understanding of the local laws, build your team of knowledgeable local experts.

Welcome to BP, Keenan. I recommend that you start meeting with local brokers to see what they can offer you. Any of the big names will offer/provide training to you, I joined Coldwell Banker in Waldorf and still work for my broker as a dual career agent (part-time) 12+ years later. It is your broker that sets the environment in their office, go meet with different brokers and you can start getting a feel for their office and management style. You already have your own personal likes and dislikes in people, use that as your starting point for the development of your own checklist of what the fit for you should be or feel like.  Feel free to PM me if you have any questions.

Rich

Sam,

You need to start meeting with local brokers to see what they can offer you. Any of the big names will offer/provide training to you, I joined Coldwell Banker and still work for my broker as a dual career agent  (part-time) 12+ years later. It is your broker that sets the environment in their office, go meet with different brokers and you can start getting a feel for their office and management style. You already have your own personal likes and dislikes in people, use that as your starting point for development of your own checklist of what the fit for you should be or feel like.

Rich