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All Forum Posts by: Russell Brazil

Russell Brazil has started 176 posts and replied 16476 times.

Post: Allow MTR in Condo HOA Board bylaw change?

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @William HooFatt:

I was just wondering if anyone has been successful in convincing Condo HOA Boards to change the bylaws to allow MTR (Moderate Term Rentals)?

I have a nice hi-rise condo unit and I get tons of companies asking if I do MTRs for Visiting Nurses, Tech Professionals, etc.

My place is positioned near a number of large DC Metro Hospitals, but since covid work-from-home and recent lift of Eviction Moritorium, I have had few people with jobs, but a ton of people recently evicted looking to rent my place.

The one viable group - visiting nurses has been excluded because my HOA will not allow short or mid-term rentals (anything less than one year is a No-No).


They claim too many transient tenants cause excessive wear and tear on the property and too many people using resources like the gym, or pool or common areas.

I think that's a lot of horse waste!

I have a two bed, two bath.  The MTR agencies offer furnishings and decoration of the property.  They would only rent according to the number of bedrooms (ie., 2Bd means two persons).  That wouldn't stress out the resources anymore than renting to two people.  A traditional rental is likely two parents and two kids, causing four persons to live there.

My intent is to bring up a case to the HOA to allow MTR. I understand how short term, like an AirBnB might cause some issues. But MTR is win-win all around.

Any thoughts?


 Of larger buildings in DC, there is only 1 single building in DC that allows mid term rentals. It's in Foggy Bottom.

So I think any chance for success in doing so...isn't realistic.



Post: Should I wait until 2025

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798

Its a better time to buy now, but harder to rent. Its a better time to fill a rental in the Spring, but youll have way more competition to purchase.

So whats more important to you...paying more/less on the purchase by $25,000....or making/losing $200 a month on the rental

Post: Rentals in Anacostia Neighborhood in Washington, DC

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @Jamie Saad:

How would you rate the area now? Is it good for LTR rental purpose? 


 Class C

Post: Seller Mis-Represented Lease Terms - Help Needed

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798

Most people here are going to tell you the same thing......the situation now is better than what you previously thought it was. 

Now you're free to go in there right away and raise rents of you want. That's a plus

Post: Investing in Pittsburgh?

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @Anne Christensen:

Hi Nicholas,

We are just outside of Washington, DC in Montgomery Cty. MD.

I'm in Moco tok

Read through @Jim K. Posts, who I can't seem to post. He invests in Pittsburgh.

If you live in MoCo, I suspect investing in areas like Jim does will come as an enlightening experience to you. 

Post: Why Does the Big-Money Invest In Landlord Unfriendly Cities?

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798

Because far more money is made in DC, NYC, Boston, Seattle, San Francisco. Its a simple matter of the math. Asset growth rates, rent growth rates in these markets far outpace the middle of the country, and its not even close. 

Post: Post sale - Buyer making legal threats about an appliance

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @Bryan Christopher:
Quote from @Russell Brazil:

I'd simply ignore them.


 Haha. I love this one. They've been very underhanded and petty though, I do expect a court filing if we simply ignore. (As appealing as that sounds) 


 Then you countersue them.

Post: Post sale - Buyer making legal threats about an appliance

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798

I'd simply ignore them.

Post: Seller's Agent Doesn't Want to do anything until Inspection Contingency is Waived

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @Tyler Condon:
I'm the agent representing myself in this transaction and it is my first transaction so just want to make sure I get everything right.

 You should consult with your broker then.

Post: Seller's Agent Doesn't Want to do anything until Inspection Contingency is Waived

Russell Brazil
Agent
ModeratorPosted
  • Real Estate Agent
  • Washington, D.C.
  • Posts 17,273
  • Votes 29,798
Quote from @Tyler Condon:
Quote from @Russell Brazil:

Im unclear what your question is exactly?

Send a request for repairs if you want if you are in your inspection period. 

I want any damages/fumigation related to termite to be handled by the seller. I just want to be sure I write this out correctly in the request for repairs form.


 Do you have an agent? They should be doing that. If not, then you should hire an attorney for this