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All Forum Posts by: Russell Brazil

Russell Brazil has started 176 posts and replied 16620 times.

Post: Does the credit need to be unfrozen till closing?

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

Yes. Lender will make sure you dont open any new trade lines or have increases on your balances. Your credit score needs to stay relatively the same from application to closing. 

Post: Bigger pockets forum issue

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

Maybe you are close to a black hole and have encountered a time dilation issue?

Post: What is the typical fee charged by property manager while rental is vacant?

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

I have zero fees on my units when they are vacant. I pay a % of rent and a tenant placement fee

Post: Why don't agents and investors like wholesalers??

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

Most wholesalers are liars, scammers and predators. 

But that isnt all of them, just most. Honest ones....agents and investors have no problems with.

Post: House appraised for more than expected- should I change my strategy?

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

Appraisal means nothing. The day after you close, it will appraise for the sales price. 

Post: Should I Place Tenants in My Duplex Before Listing On the Market? 44120

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

No

Post: I am wondering about a "sewer scope." Thoughts?

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

I generally dont do sewer scopes unless there are trees in between the house and sewer line in the street. 

Could there be other problems not caused by trees? Absolutely. But what Ive also found is a sewer line can look perfectly good, and still spontaneously collapse anyways. Houses have problems....collapsed sewer lines are just one of many things that can happen. Usually costs me $5k to fix, not a big deal.

Post: House Hacking Advice (Washington D.C, Nova, Baltimore Area)

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

Hyattsville and surrounding areas are more affordable than other parts of the metro.  If I was looking in PG County, I think Hyattsville and College Park would be my main targets. I love Mt Ranier, but the property tax rate is crazy. High rental demand for room rentals in Hyattsville and College Park. But those renting rooms in the area, can be difficult to deal with.

Post: Are Solar Panels Worth It?

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

This is highly market, and even location specific. Some markets solar panels may increase your value....others it has no affect...and in others it will drop your properties value. It is important to consult with a real estate agent with knowledge of how panels affect your properties value.

Post: How do you do bookkeeping and financial reporting for your rentals?

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

Google spreadsheet for me