All Forum Posts by: Robert Garcia

Hi BP,

I'm a first-year licensed Realtor in Baltimore, MD, and a soon-to-be property manager, managing my first lease. What would be your suggestion as an inexpensive, or free, PM software for someone who's just starting out to use? Thanks!

Hi BP. I just started a Property Management business (not sure if posting the name is allowed? Please advise) and I need an attorney, most likely for ongoing legal advice as well as drawing up the necessary forms and documents like contracts, leases, and evictions (when necessary), and others when needed. Who can recommend one in the Baltimore, MD area?  

Also, in regards to a property management business, is an attorney 100% necessary or is using a service like Rocket Lawyer, Legal Zoom or any other online legal services acceptable to use when just getting the business up and running? Money is not an issue but I'd rather not spend buckets full if it's not necessary in the beginning. Thanks in advance!

Typical formula would be ARV x 70% - Repair costs = Offer price. Not sure what you mean by "Repairs+Upgrade" costs, they're the same thing in this situation I would assume

Craig Garrow I agree, chalk it up and pony the $100, and mention it to your maintenance guys to notice their reaction. In the future maybe make sure a tenant is present with any contractor so as to avoid any discrepancies.

@Ned Carey looking forward to learning all I can.

@Ned Carey Good to know, thanks Ned

@William Hiday I understand this concept but how do you make sure the current rent will cover your new $80k mortgage since you rented the property based on the original $60k loan amount? 

Great question @Brandon Cobb for I was thinking the same thing, how is it done without having another 20-25% down. I'm working on the purchase of my first buy & hold and am eager to turn around and purchase my second ASAP. 

Hi everyone, I'm wondering what the pro's and con's consensus is on being a section 8 landlord in Baltimore, MD. Who is currently a section 8 landlord and is it something one should consider, simply for the guaranteed cash, as a buy & hold investor? 

Thanks,

Rob

@Account Closed, thank you