All Forum Posts by: Richard Carlton

Hi Nicole!  Yes, from the perspective you bring up Marriage is a foolish decision.  My wife and I shared (still do actually) similar thoughts that getting married was not anything to brag about when it comes to taxes.  We were married in October 2015 (after 15 years together), and thanks to the situation we were each still able to claim HOH last year.  This tax year is going to not be so "pleasant" as our living situations have changed.  We both own properties jointly and independently, our reason for marriage was driven by the fact that we have 2 toddlers and it makes legal decisions easier in the future.  If kids were not involved, we would be still be single.

Welcome to BP and investing in RE @Gregory Shinn

Welcome @Terrance Bynum !

Welcome to BP Kristen.  I am a Realtor and investor who fixes and flips and owns a few rentals.  Feel free to contact me if you have questions about things.

 What type of investing are you planning on focusing on?  I am a local agent, investor, and attendee of the SOMDREIG.  If you have any questions feel free to drop me a line.

Hello, Please send more information to [email protected]

Thanks,

Rich

Welcome to BP Javier. I think that there is more than just you that has had a challenging first flip but those are the lessons that you will never forget.  

Lusby as a whole is a decent area.  There are some locations that are higher valued over others in the local area.  It is not an area that I would run from, the only concern that I would have as an investor is market saturation.  There is a lot of properties in the area for sale so if the plan is to flip a property, perform a reasonable amount of due diligence and watching of your budget to have a property stand out in features and price when compared to the local comps.  If your plan is to buy and hold rentals, the previous advice is spot on as there is a chance to make good returns.  If you want other information on property there feel free to PM me and I will be more than happy to help you.

Hello,

I have two situations that I need advice on.  I just had a tenant move out who left the house in good condition especially given they had two cats, a dog and two kids in the house.  My lease states that they were not supposed to put any holes in the walls.  They left eight holes in the in two different walls from wall anchors in the living room.  I will have to do repairs to the walls and repaint the whole living room and connecting hallway.  Should I write this off as just normal wear and tear even though my lease said not to put holes in the walls?

My second question is, can I take money out of their security deposit to pay for garden maintenance since they neglected the gardens around the house and didn't mow the whole yard.  My lease states that they were to maintain the lawn and gardens.  It will easily take me 3-4 hours to weed the gardens if I were to do it myself. 

Thanks for your advice.

Welcome to BP!  What type of partnerships are you hoping to establish?  What kind of money lending experience do you have?