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All Forum Posts by: Russell Brazil

Russell Brazil has started 176 posts and replied 16620 times.

Post: Bigger picture question!

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

Being a full time agent gives you an advantage in investing. But merely being licensed does not give you any advantage whatsoever. 

Post: How to identify an assumable mortgage?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

VA and FHA loans are basically the only assumable ones in the market place. A simple search on a service like Propstream will show you what properties have them.

Post: How do i know how much the rehab will cost?

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

Mostly experience.  Until you learn to estimate yourself, based on your local costs, any estimate will probably be off. Eventually it becomes second nature. I can walk into a property and know within 10% my rehab costs. 

Post: Refusing a Tenant Prospect Before Showing/Application

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

Theres certainly no problem with asking for an ID. Simply safety screening criteria. We dont show homes without an ID.

Post: New co living investors looking to connect in DC

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

Welcome to BP.

One of the things to consider is we have 3 different states in the area with wildly different laws on this topic. Main thing to consider Id say is the occupancy limit on unrelated people living together. That number varies by state.

Virginia - 4

Maryland - 5

DC - 6

Post: Tenant vacates property before december 1 without notice. Lease is till August 2025

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070
Quote from @Nathan Gesner:
Quote from @Pamela M.:

1. You have written confirmation that he is out. There's no need to evict, ask him for confirmation, or anything else.

2. Secure the house immediately. Change the locks so he can't return. Ensure utilities are back in your name. Inspect.

3. Turn the rental around and find a replacement tenant quickly. Once the new tenant starts paying rent, you release the old tenant from any obligations. For example, if your old tenant moved out November 25th and you place a new tenant 15 days later, then you can hold the old tenant responsible for 15 days of unpaid rent.

4. Charge the old tenant for cleaning and repairs, unpaid rent, and other expenses. If the deposit does not cover the charges, then you should consider whether you want to pursue collecting the unpaid balance or write it off.

You did the right thing, and the tenant's behavior proves you were right.


 Exactly what Nathan said here. 

The longer you are a landlord, and the more units you get, the more likely it becomes that youll have tenants who abandon the property.  That magical piece of paper we all call a lease, is really mostly a one way street. It binds the landlord, but honestly has little binding effect on a tenant when they simply choose to leave.

Post: Help with property management company that won't pay me and are ignoring my emails

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070
Quote from @Drew Sygit:

@Jae Yoo you have a few options:

1) Hire an attorney to write a threatening letter. Be prepared to start a lawsuit.

2) File a complaint with state's Board of Realtors

3) File a complaint with state's Attorney General's office

Since these are unlikely to be permanent solutions, you'll also want to start searching for another PMC.

Recommend you speak with @Russell Brazil


 Thanks for the tag.

Property Management is not a licensed activity in the state of Maryland. So it can be a bit of the wild west. Unscrupulous Property managers in Baltimore is unfortunately par for the course. The suburbs have a number of good PM companies, but due to the low price points and rents, and the nightmare of dealing with the city and courts there, most of the good property managers in the general area won't touch Baltimore. That ends up leaving a void that's filled by unprofessional, and in some cases outright criminal operations there in the PM space.

Post: Questions About Evictions in Anne Arundel County

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070
Quote from @Reginald Glascoe:

I definitely don't want to start this process over again. Thanks Russell for the confirmation! I'm now figuring out how to gather 15 people on a Thursday morning. 

You hire them. There are eviction companies that you hire a crew.

Post: Questions About Evictions in Anne Arundel County

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070

Yes you need 5 people per bedroom. 1 single person short and the Sheriff will simply leave and you have to start all over again.

Post: New Member, Live in the DMV!

Russell Brazil
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,429
  • Votes 30,070
Quote from @Azita Nejaddehghan:

Young adult, working in health care, living in Virginia (just outside of DC). Looking to buy / invest in the Maryland/DC/Virginia area, within 40 minutes of DC, within the next couple of years.

Looking to buy first home in next 1-2 years. Considering real estate investing either prior to or after this. Also considering live and flip, or make our first home we buy an opportunity to increase our income as well (renting basement or part of the unit).

Looking to network with local investors, etc...will definitely keep my eyes open for any local meetups! My boyfriend and I have been listening to bigger pockets money podcast for about 6 months, and just started listening to the real estate podcast this week! We are big fans of the content and are looking to learn as much as possible.


 Welcome to BP. Lots of DMV area residents here.