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All Forum Posts by: Russell Brazil

Russell Brazil has started 176 posts and replied 16768 times.

Post: HoltonWise Fake Rent Receipt Scam

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @James Wise:
Quote from @Remington Lyman:
Quote from @James Wise:

@Engelo Rumora

@Engelo Rumora @Russell Brazil 

@Drew Sygit

@Remington Lyman

@Jay Hinrichs

Read this story, you'll get a kick out of these nerds.


 It seems that the division will throw this claim out easily.


 No doubt, that isn't the question though. The question is, "should HoltonWise throw it away?"


 Any frivolous claims or complaints should be matched with a counter suit for abuse of process.

Post: Failure to Disclose Water Intrusion

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @Austin Johnston:

Update on this, the issue was reported in the point of sale inspection with the previous owner, but not transferred into the disclosure. @Russell Brazil does that change your input on that?

That does not change anything in my opinion 

Post: How reasonable is it to ask PM to split the bill here?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @James Wise:
Quote from @Lewis Kerwin:

Hi there,

I have a SFH for which I just received word from PM that city is demanding a $1000 water bill.

Context is that this SFH had tenant abruptly leave without notice last september. It was empty for 9 months while repairs were done, then was on the market, then required further repiars to meet Section 8 inspection and re-inspection. Apparently, at some point during this, the toilet started running, which led to the water bill. I feel like PMs perhaps should have caught this and that it may be reasonable for them to pay half of this bill. when I suggested this on the phone, the PM seemed somewhat insulted and suggested that in that case, they'd likely need to pass me on to a different PM. They citied having already split a $500 cost with me (out of about 5k repairs in past year) and feeling held hostage to this property if I insist on their covering costs that come up. I don't want to terrorize my PM, but I also don't want to be taken advantage by them. How much would an owner typically eat this cost versus insisting PM bear some responsibility? At what point would I want to find a different PM in this situation?

Thanks much!


 Totally unreasonable. Pay your bills man, grow up.


 I second what James says here. Youre the investor. Youre the one taking the risk with the property to earn a return. The water bill is your responsibility alone.

Post: Baltimore property valuations overinflated?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @Ioulian Stoitchkov:

Hi there,

I am getting some messaging that lenders are beginning to see Baltimore market as being overinflated in terms of valuations and as a resulting are pausing DSCR loans. Does anyone have any insights on why that may be? I cannot see anything that stands out to me but probably I'm missing something


thank you,

Ioulian


 I dont fully understand what's going on, but I was contacted by a reporter to ask if I wanted to comment on it. Its common members of the press contact me for comment ans background in DC and Baltimore related real estate news.

A couple of hedge funds have gotten hit hard in Baltimore, and something related to the lending and appraisals was involved with it. So some commercial lenders have stopped lending in Baltimore currently because of the situation.

I have almost no information on it other than what the reporter gave me.

Post: Real estate license beneficial for investing?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412

Nope

Post: REI Nation is the most horrible company - Experience

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @Hemal Adani:
Quote from @Hemal Adani:

I bought a brand new house from REI nation and it's under management by REI Nation. As per standard agreement, They are supposed to not make repair more than $400 without my consent unless it's an emergency. Now, the AC wasn't working and they sent an HVAC company to make the repair. The HVAC company made repair worth 1440$ without my consent. They inform me afterwards that I'll have to pay as per that. If I had a choice, I would make the repair much less but REI nation being stupid company messed it up and now need me to pay the bill. Also, they owe me property management credit as part of the agreement. When I asked them to break the contract, I loose property management credit as well. I would never ever buy something from REI nation.

It wasn't a mandatory repair required by the state. It could have waited.


 Air conditioning is required by law to be in good working order in Alabama 

Post: New Investor in the Maryland area

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @Yvette Weir:

Hi Everyone: 

My journey has been at least ten years in the making of wanting to become an investor, but not ever finding the support or guts to start on my own. The What-If paralysis. I am also a single gal in my fifties who after divorce just bought a colonial for my own residence last year. I feel sometimes a bit 'late' to the table and woefully ignorant of the language and lingo in investing. BUT, I am a quick learner, a go-getter and would love to put my handpiece ( Dentistry ) down in the next few years and hoping this can be a significant step towards that goal. Hope to meet some friends and collaboraters here ( I feel I spelled that last word wrong, it's still in the red, but you know what i mean😂). Yvette


 Welcome to BP. Got to take the plunge at some point. 

Post: New Construction as My First Rental—Realtor or No Realtor?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412

I live in new construction. I paid the lowest price, and had the most free upgrades of anyone in the community.

Post: Will California prices ever go down?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412

In short periods of time, maybe. Over the long haul, no. As long as the government keeps printing money and spending, the value of the dollar will keep dropping. Thus real estate prices will always continue upward over the long term.

Post: Beginner Real Estate Investing

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,590
  • Votes 30,412
Quote from @Lateef Ellis:

Hi I am a new and aspiring real estate investor. I have just begun my journey on educating myself on investing in multi tenant investment properties in the state of Maryland. Any tips or references for working within the Bigger Pockets community is greatly appreciated. 


 2-4 units or 5+ units?