All Forum Posts by: Rob Gribben

Not a big deal to who?  It is a HUGE DEAL if the state requires you to participate.  All I want to advocate for is that landlords have the choice.  At some point I may transition some or all of my properties to accept Section 8, I've considered it.  But I don't want to be forced into it. 

I hope you are right!

I don't want to start a political debate, just want to bring this to the attention of all landlords and investors in the state of MD.  The House of Delegates passed a bill Monday night that would require landlords to participate in the Section 8 housing program.  

MD is not afraid to launch a direct assault on the rights of property owners.  I choose not to participate in the Section 8 program.  That's my choice, and I don't want the state mandating that I participate.  If you feel the same, please contact Baltimore County Senators Jim Brochin and Bobby Zirkin and voice your concerns.  

http://www.baltimoresun.com/news/maryland/politics...

Baltimore County Senators Jim Brochin and Bobby Zirkin sit on that committee, and they are the two members most likely to be the swing votes.  If Brochin and Zirkin don't vote against SB-835 and SB-728, then you as an investor will have no choice in regards to participating in the Section 8 housing program.

Biggerpockets  prohibits me from posting email and phone numbers for Mr. Brochin and Mr. Zirkin, you can however google them and contact information comes right up.  

JAMES BROCHIN
Democrat, District 42, Baltimore County

ROBERT A. (BOBBY) ZIRKIN
Democrat, District 11, Baltimore County

If you purchased for $80k and it appraised at $150k, you scored a win, it's hard to mess that up.  Even if you just break even on cash flow, you should come out well ahead if you can sell at or near the appraised value.  

I'm curious if there are any investors who own in Eastwood.  I own 2, and have noticed a considerable uptick in the number of nice rentals on the market right now.  I just had a tenant leave after 5 years, so recently listed mine for rent, and there is a lot more competition than 5 years ago.  That's a good thing though, lots of nice rehabs, so should bring values up or hold them steady at least.  It's a great area to invest IMO, very close to Bayview Hospital, I95, Canton and Fells Point.  

@Kim Coleman

I contacted my State Farm agent, and surprised to hear they don't even offer sewer backup on rental properties.  Maybe time to look for a new insurance provider!!

I own two in the Eastwood neighborhood of Dundalk.  Both cash flow well.  The area is pretty nice, and an awesome location (proximity to Bayview Hospital and I-95), but I don't have confidence that you'll see much appreciation in that area.  The potential is there, but still a little rough, and there are numerous foreclosures still, so some neglected properties that are a blight right now.

I own two properties in Baltimore city.  I keep getting letters from Homeserve trying to get me to purchase sewer line backup insurance.  The city has contracted with Homeserve to provide insurance against sewer line backups that spill over into the basement.  It's the city's way of trying to avoid having to pay for these issues when they happen (and they do happen pretty frequently).  The city is currently replacing sewer lines, and the work is apparently leading to a lot of sewer line backups into basements.  There was an article in the Baltimore Sun over the weekend about it.  Seeing that article made me think seriously about purchasing the insurance plan.  I'm trying to figure out if it's worth it or not.  Are they going to cover the cost to clean/replace drywall, etc., or just clear the block and then you are still stuck paying for damages?  Any other Baltimore investors/landlords have or consider purchasing insurance that covers sewer line backups?

@Nicole A.,

Thanks Nicole, I was able to get an attorney to give me a draft, and proof it for me before it went out.  This property is in Baltimore City.  The notice to vacate gives them until April 30 to vacate.  I understand that could extend for at least another month or so, so hoping they just don't pay the rent, and sounds like I can get them out a little quicker.

@Tyrus Shivers,

I have a couple of things happening, and I got some free advice from an attorney on the eviction process.  They are in breach of the lease (for having inoperable and untagged vehicles parked at the property), and this month they have not paid rent.  So, I think they have made a conscious decision to ignore me, ignore the vehicle issue, and see what they can get away with.  I issued a 30 day notice to vacate for breach of lease, and I also filed the "failure to pay rent" (assistance from rentcourtservices.com).  So, they'll either be evicted for failing to pay rent (which sounds like it's the quicker route, and I don't necessarily need an attorney for that), or for breach of lease (in which case I would likely have an attorney assist).  In either case, i'll hire an attorney to go after them for the balance of the rent (5 months), or for however long it takes me to find a new tenant.  In 13 years, never had to file a failure to pay rent, and never had to evict, so hoping this is the last for at least another 13 years!!  It's a hassle, but I guess the cost of doing business.