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All Forum Posts by: Tariq B.

Tariq B. has started 69 posts and replied 245 times.

Post: Interest Rates on Commercial Loan?

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

Hello!

I took quite a break from buying properties and now on the hunt again.

I’m curious what rates look like these days for a commercial apartment building around 1.5M.

If any lenders could chime in or investors who have seen recent rates please share!!

Thank you!

Tariq

Post: Baltimore Section 8 Inspector Results.

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@John Underwood I hear ya, good idea on the drip pans I have had that one happen too a couple times.

Post: Baltimore Section 8 Inspector Results.

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@Sylvia H. I’m not new to section 8 it’s just extremely frustrating how there are no guidelines to passing, there is no standard it’s up to however the inspector feels that day. And we are just supposed to take it with no recourse. Only for tenants to destroy the property again. If the condition of the property is good enough for the tenant moving in who is the inspector to say that a wall needs to be painted.

Post: Baltimore Section 8 Inspector Results.

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@Russell Brazil there are two exits other than the window so it should pose an issue.

Post: Baltimore Section 8 Inspector Results.

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

I am frustrated. Once again I feel defeated by the awful inspection system of Baltimore City.

I just had one of my units inspected and it failed for the most subjective items.

Such as:

Paint walls in basement laundry room (it’s in a the basement)

Remove bars from basement window

Fix or replace dryer making noise (it heats ups and works)

Paint basement door

Clean cabinets and sink (they are emptied and clean)

Paint basement floor (it was paired during turnover)

Clean all windows (8 of them are new from this turn over)

Back yard clean up debris (he didn’t like the leaves in the back yard)

The inspection process for Baltimore City section 8 is so broken and subjective. It’s al Pat like the inspectors are expecting to be paid off and if you don’t they come up with unnecessary “repairs”.

The inspection is to make sure the house is safe and up to HUD standards. Having to paint walls that have never been painted or painting a back door, or removing bars from a window when there are multiple exits are not health and safety concerns.

Have any landlords in the area has any luck fighting these erroneous requests?

@Andrew Jacobsen RPM is that a national brand? I had an awful experience with them but it was the DC/MD branch.

Post: New Air Force investor: where do I start?

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@Jonah Cervantes welcome to the military landlord club!

Post: 4.4% Interest on Investment Loan??!

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@Fikret Sivac depends on the credit model. To stay on the safe side always try to keep it to 2 weeks. So all pulls count as 1

@Estefania Concha didn’t read all comments but enough to know you are going about it wrong. You are giving notice to vacate as you will not be renewing lease. 60 days is plenty of time and you don’t need a reason to not renew. There are some instances where you do need a reason and having to do a major renovation is one of them. Under no circumstances say this is because the rent is low and you want to raise rent. If tenant doesn’t vacate then you file tenant holding over with the courts. THEN you are evicting. Right now you are just asking them to vacate.

Do not take this as legal advice blah blah blah…

Post: Hoping to BRRRR. Thoughts on these GC Bids?

Tariq B.Posted
  • Investor
  • Laurel, MD
  • Posts 249
  • Votes 140

@Anish Patel 6K for hollow doors? Wow. Get more quotes.