All Forum Posts by: Sean Wenzel

Thanks!

Where would I find the laws, rules, regulations, that I would need to make sure I follow for land lording in Maryland?

I am 34 but I get mail for AARP and other senior citizen related offerings every now and then.  (I do not know why) Today was the first time I got a letter related to a home loan I had never heard of, HECM.  I definitely do not qualify but they put my estimated home value between 130K-149K.  Can this possibly be right?  I'm thinking not as I purchased my home 5 years ago for 63K and other units within my condo community haven't sold for more than 90K (ish) in the past 5 years while most do not go for more than 85K.  

As I am very new to this whole investing thing, what other basic things should I be looking at to accurately value my current home?

I'd like to keep it as a rental when we move out but I'm not sure it will provide enough cash flow so we may benefit more from selling it.  It is a 2 bedroom, 1 bath, top floor condo with a den. (1000 sqft) The kitchen still needs updated and the heating/cooling unit is super old.  Other than the kitchen and HVAC age, we're in good shape and we are looking to update the kitchen next year after tax season and our refund check.  I had replaced most of the flooring because it was previously used as a giant litter box for cats.  We have also had the bathtub refinished so it is a nice white and doesn't mold at all even though the vent doesn't work. (Wiring in the ceiling needs fixed as I have installed a new fan but that is the extent of my electrical skills)

Any suggestions or comments would be greatly appreciated.

Thank you everyone. (I'm still figuring out how to do the @ thing)

@Patrick Watson (just figured it out)

My kids are 6, 4, and 2.  Due date for 4th son is Aug 22.  Meeting up would be fun but unfortunately will have to wait until late fall.  I will definitely come back to this though. 

@Account Closed

They are each such a great blessing!

If rent is not late until the 10th day of the month, can a landlord get around this by making the rent due date the 9th of the month?

Thanks Josiah, 

I had actually just created a read/not read yet list of REI books this morning. Thanks for helping to add to my 'not yet' column! The only ones I've read so far are The Book on Rental Property Investing and The Book on Investing in Real Estate with No (or Low) Money Down. The Book on Managing Rental Properties is my next in line.

Hello! My name is Sean and have been a member for a couple months and just go around to adding  a picture so I thought now would be a good time for my first post.

My wife and I live in Hagerstown, MD and we have 3 boys and 1 more to be born in mid-late August.  The boys occupy most of our time so please don't be offended if I do not respond quickly.  

We are in the initial learning phase of real estate so we probably will not do our first deal for a while, unless you count our current home our first deal.  (We own a 1000 sqft, 2 bedroom condo)