All Forum Posts by: Tariq B.

Thanks for the reply's my fellow investors. I think I'll just go ahead and eat this one. 

Greetings everyone, 

So had a work order submitted to me about water being on the kitchen floor and the freezer not working properly and having defrosted. Mr appliance was sent out to the property and he determined that there are two buttons on the fridge that when pressed simultaneously it puts the fridge into demo mode effectively shutting it off, which is what caused the fridge to stop working. He charged $99 for a service call. In your opinion who is responsible for payment to Mr appliance? I will add the tenants moved in a week ago. 

Not a lawyer, but I'm pretty sure by law the tenant is not liable and the money should be returned. I interpreted the law as you can only charge lost in rent for months you had the house sit empty while you advertised. If They had moved in on the 15th the prior tenants rent should have been prorated and payed back. Also just because it is in a lease does not make it legal. 

Yes tax assessments are high in the city, and good luck fighting them down with out pulling your hair out, but it never hurts to try. You can get some very very attractive cap rates here, especially if you want to deal with the "rougher" parts, not the worst parts just places that I wouldn't live. The more risk you take the more reward for example the last place I finished after expenses I am getting an ROI of roughly 56%, these kind of returns can be had quite easy in Baltimore. If you want to deal with more appealing places then 20% is easily attainable too. Just depends on your business plan and how aggressive you want to be. But all in all Baltimore City is like any other market you will have your good and bad tenants, I don't find it tougher than other markets, unless you are dealing with the courts, as it can be extremely tenant friendly.

I always choose option A. Always...but that's my niche I aim for places that are cheap where I can do the work myself. It wouldn't really work out so well if I had to pay someone to do everything. 

Pretty cool thread. I would say I have had some pretty good success by mid 20's. I started in real estate at 21 built up to 4 payed off properties by 24 owning a total of 6 about to be 7 soon. I make enough through rentals to the point where I question leaving my salary job, but still unsure if I want to or not, so you could say I have already achieved financial freedom. I think it's all a mindset you have to take the chance and just do it and said of sit there and expect it to fall in your lap. I took charge of my life and am now seeing the results of all my hard work. There are definitely some challenges you will face being younger, especially when it comes to being a landlord, no matter how professional you are if you look like you can be your tenants grandchild it makes it tough for them to respect you, but there is always an answer to a problem you just have to get creative with any situation.

Neither. I only put A/C where it already is if it's a rental. 

Evening all,

Looking to put a bid on a potential flip. It has cabinets that are in really great shape, would like to use them if at all possible. Thinking of painting them. Have any of you had a good experience reusing or painting the cabinets on a flip.

@Sylvia B. lol my point exactly!

@Tony SanFilippo From talking to other investors in other areas it would appear that all section 8 locations are different. Some follow the HUD guidelines to the T. Others go above and beyond and make up their own rules. I have had decent luck with the tenants so far..other then later water bills and random things getting broken pretty smooth.

@Bill Paesano the only thing I have heard about mulit's with section 8, and this came from the housing authority is that it is hard to determine what the rent should be. So I wouldn't be much help there as I stay away from multi's. What I can tell you is get in touch with your local authority and they should be be able to get you a standard list of what they are going to look for, it will help but won't give you all the answers. Benefits are the money being on time and the fact you can leverage that if they don't keep up on the place you will have their voucher taken away, other then that not much different then any other rental.