All Forum Posts by: Richard Fields

Welcome Dan. Read "The Ultimate Beginners Guide to Real Estate Investing. You can read it for free on Bigger pockets and learn as much as you would with one of those $300 courses.

0 Votes

Welcome. And congratulations on starting so young. I WISH I had

0 Votes

Originally posted by @Luke Nelson:

That's what we are intending to do. We have done some minor upgrades in our condo and our intention was to rent it out after we move and do the same thing with the next property. We are looking to find a duplex next.

How would you suggest going about the rental cost for our tenant if we have HOA fees?

First thing you need to do is check with your HOA to be sure they allow you to use your property as a rental

0 Votes

Originally posted by @Daria B.:

Originally posted by @Shawn Dandridge:

I haven't hired them. Just putting feelers out there. I'm quite sure that I won't. I think their entire rental agreement is ridiculous.

Look around for others that will be more equitable.

Paying for an empty unit is rediculous. All other fees can be negotiated.

I have a unit in Halethorpe in Baltimore County and my PM that I've had for many years charges 10% gross rent every month it's rented. There is no renewal fee but they do take half 1st month when a new tenant is placed.

That is very reasonable

0 Votes

Originally posted by @Richard Fields:

I would NEVER pay a PM a freshen the unit isn't rented. He'll be a lot more motivated to get it rented if he isn't get paid for doing NOTHING

That's a FEE, not freshen. I really need to start reading my posts BEFORE hitting the button

0 Votes

I would NEVER pay a PM a freshen the unit isn't rented. He'll be a lot more motivated to get it rented if he isn't get paid for doing NOTHING

0 Votes

Originally posted by @Jay Hinrichs:

@Steven S bond I once ran into a guy who had a case of wine he wanted to sell for 100 dollars this was in 1983 ish... so that was a good chunk.. It was French wine.. ( and he obviously probably got it somehow but somehow was probably illegal) any way being a young RE agent I had the 100 bucks.. so I bought it.

Turned out to be a case of 1974 Chateau Marquex the real stuff... even then was worth 100 a bottle.. I savored that case for about 10 years at the end the bottles were worth about 500 per.. LOL.. so it can cut both ways. I also bought a baggie of Oregeno in my day as well...

LOL It was a beef bouillon cube in my day

0 Votes

Welcome to BP. I'll be joining you down there in N C in hopefully 4 or 5 years when I retire. I looked at a great deal in Lilington a few months ago.

0 Votes

Originally posted by @Richard Fields:

With lower priced property's (sub 40k) with good cash flow and COC, would a 17% vacancy rate be a deal breaker? What percentage would be the highest acceptable?

Forgot to mention they are in C and D neighborhoods

0 Votes

With lower priced property's (sub 40k) with good cash flow and COC, would a 17% vacancy rate be a deal breaker? What percentage would be the highest acceptable?

0 Votes

All Forum Posts by: Richard Fields

Richard Fields has started 16 posts and replied 236 times.

Post: New member in the Philadelphia market

Post: Young eager investor

Post: Where do I start?

Post: Property Management Fees

Post: Property Management Fees

Post: Property Management Fees

Post: re: bad investments

Post: New member from NC

Post: Vacancy rates

Post: Vacancy rates