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All Forum Posts by: Solomon Morris

Solomon Morris has started 12 posts and replied 262 times.

Post: What Markets Are the Best & Worst Positioned For Coronavirus?

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Account Closed commits to will be bullet proof during a shake up in the economy.  Some voucher tenants are paying pennies on the dollar to keep a roof over their heads in comparison to market renters 

Post: Baltimore city or county rehab

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Ryan Lee I just finished a rehab in the city.  I can't take you inside but I can show you pictures if that's something that'll help.  Let me know

Post: Looking for a new Lead inspector

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Soren Ager I feel the need to triple down on LeadProbe.  They have a great team there.

Post: Ready to buy, but should I wait?

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Maurice E. Stokes Jr have you ran the numbers? is it actually a deal? you will probably have unforeseen expenses that eat into your cash-flow at times.. you ready for this life or what? there will never be a perfect time

Post: How is the Covid-19 affecting y’all’s business?

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Colleen F. Maybe it's my ignorance to the realities of an "epidemic."  I had a busy day with having my truck serviced at a local toyota dealership, stopped by the post office to mail some items from title and cleaned my grill in preparation for the upcoming summer season.  The other residents of the DC area were gracious enough to leave me a few steaks I purchased at the store to put in my freezer to grill later.  

No cooking oil or smores poptarts though...

In all seriousness though, please protect yourselves during this time

Post: Best use of cash reserves

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@JaSun Frone  20K can go fast depending on the status and needs of the property. I just finished a 30k rehab on a 2/1 baltimore rowhome without touching capex items. Consider acquisition, renovations, holding costs etc. I'd make sure the project is in fact a deal before approaching OPM/HM

Post: Baltimore - 203k Questions

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Mao Pmn most established contractors you don't have a relationship with will be hesitant to follow you around to give bids on properties your are not at least under contract on.  There are exceptions to the rule but you will really have to search hard. good luck

Post: How is the Covid-19 affecting y’all’s business?

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

one of my units is will be hitting the market today for rent.  Hopefully I'll see applications in a reasonable fashion.  Maryland just activated the national guard.. not sure what they plan to do.  Wash your hands everyone

Post: Recommendations for Contractors in Baltimore

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

Vasilios who owns trademark construction does incredible work. He designed/remodeled a kitchen and replaced all of the flooring in one of my units. Check his reviews online, that's how I found him

Post: How to find your Mentor Figure?

Solomon Morris
Pro Member
Posted
  • Rental Property Investor
  • Maryland
  • Posts 287
  • Votes 205

@Jack Everett McMichael this will differentiate for everyone but my first mentor came from talking about moves I was making at work and him coincidentally overhearing me.  he later caught me off guard to get some details on what I was doing in our work spaces.  long story short, i told him my plan and he talked about how his personal business was going..  12+ properties at a distance with many paid off.  he was exactly where I wanted to be. when he spoke I listened. anytime i could find an excuse to get out of my seat to engage with him and ask questions at work, I took it.  I helped him with some personal tasks outside of work as well.  I have since then moved away due to my military status but we've stayed close friends and text/ call each other often to talk.  

i feel like I just met my second mentor after i handed him a 30k check for a rehab he is currently finishing up on one of my properties.  he is a experienced gc with an incredible reputation in the baltimore area.  again when he speaks, i just listen and attempt to derive the most i can from our time together. this guy is extremely passionate about real estate, i can just feel it as he speaks.  i feel like me giving him my undivided attention and actually implementing the advice he gives me is somewhat of a "trade off" in his mind.  i never asked any of these gentlemen if "they would be my mentor."  

i think showing genuine interest in real estate around other who have been around the block will be enough to at least create an opening.  the details and conditions of how things will come together may come at a price... again i didnt get a chance to get close to my 2nd until i handed him a check. you know there are people who come out of pocket for mentorship who are very successful and swear by it.  it will really depend on you as to how your professional and personal relationships come to fruition.

Good luck to you