All Forum Posts by: Sean Monahan

@David Campbell it comes down to risk reward. Can you handle the risk of cash flow negative in a promising appreciating market? If you can do it all day. If you can’t…seek out a safer market. Congrats but it’s all situational.

Hi Caroline Gerardo.  Dog grooming/boarding business and they've been grooming for ten years and its our dog groomer whom I've known for 5 years.  I'm just trying to find a solution for them.

Hello community and thank you in advance for responses.  I have a client, who was recently divorced thus taking a hit on their credit.  The client is a friend and has a business.  They are having trouble getting approved for a loan for a new commercial space.  I've looked at their P&L statement and their finances and know they could afford the property they are looking at.  A potential solution is I take out the commercial loan on the property with my finances and credit allowing me to do so and she rent from me potentially in the future setting up a lease purchase or even flat out purchase when their credit improves.  My question is how will this impact my ability to purchase more residential investments and obtain financing for those properties while showing minimal cash flow on the commercial property?

Again thank you BP community and see you at the conference!

@Naillah Valor

In Maryland it is a law. It is called the right of first refusal. ... This law provides that before the owner of a single-family residential rental property sells or transfers the property to another, the current tenant has the opportunity to purchase the property on commercially reasonable terms.

Hello fellow agents.  I'm an investor and a nurse but transitioning out of nursing to being an agent.  I've already passed my test and am ready to interview brokers.  Are there any agents out there that recommend their broker and why?  Please feel free to send me a private message.  Thank you in advance!

Thank you Stephanie.  I was hoping to be able to find a way to prove it to them but I understand their regulations and looking out to protect against mortgage fraud.  

I have purchased my current primary home and renovated it and now intend on renting it out.  I am having difficulty with financing my next primary residence.  I found a home two blocks down that I can follow the same blue print with as my current home but they are asking for 20% down as they see it as an investment home because it is is currently smaller than my current residence and only two blocks away.  Normally I would do the 20% but I am about to close on a rental property and I need funds to start my renovation.  I was looking for a 5-10% down financing.  Has anyone ever had trouble convincing a bank you are moving to the new residence to renovate to be eligible for financing with a lower down payment? If so what information could I provide to have them more willing to lend?

Is there waterproofing on your walls? Do you have a sump pump? Is there a small crack possibly in the cement slab?  I have a few rentals here in Baltimore and am just trying to gather more information.  If you want send me a PM.

cityview.baltimorecity.gov

Hello BP community.  I am attempting to help a friend out who is moving to Hawaii, Maui specifically.  They have found a piece of land they wish to build on.  What is the best way for them to go about financing the purchase and construction of their home and does anyone have recommended lenders they should seek financing through?

Thank you in advance!