All Forum Posts by: Tarik Larue

2 Unit Townhouse listed at $24,000. Spent $16,000 to fix. Rents at $1,780/mo

Hey Marcela,

The refinance process took so long that I was able to completely finish the second rehab. Since I already qualified with Eastern Savings Bank for one loan then I just requested they do both properties as one loan. This past week they sent out appraisers and once those are complete we should be closing. I paid about $60,000 for both properties and spent $40,000 on rehabbing them. The new loan will be for $100,000 at 6% which will pay off both the Hard Money Lenders and the Private lenders. The properties were only certified lead safe which is enough for lenders and section 8. The first house has two tenants with signed leases in place. The second house is awaiting a city inspection before the current applicant can move in. Thanks for your interest. Are you currently investing in Bmore?

Tarik LaRue

Greetings Nyala,

I have been using The Mount Washington Group LLC out in Pikesville, MD. The manager is Steve Klein at 443 802 3929. They found my current tenants, made repairs for Section 8 and handle the monthly utilities. Good luck,

I ended up choosing The Mount Washington Group after meeting with the company manager Steve Klein. A few other local investors referred me to them and they seem really knowledgeable about Section 8 and other housing programs. They placed 2 separate tenants in my duplex under 2 different programs and got me through all the inspections. I have also hired them to manage my 2nd townhouse and they found me a tenant in 2 weeks. I plan to purchase 2-4 more properties/ units in 2016 so I didn't want to self manage or find my own tenants. 

Hey Mercedes,

I hired The Mount Washington Group located in Pikesville, MD. After speaking with several other companies and getting referrals from 2 other local investors I decided to give them my business. They manage over 300 units including their own properties and they have maintenance crews on staff. They also screened the current tenants and deal with lots of Baltimore City housing programs. The staff has been very responsive and I am pleased with the service so far. Good Luck.

Tarik

Hey Mike,

After talking to numerous companies I decided to hire The Mount Washington Group located in Pikesville, MD. The contact person is Steve Klein and they have a tenant placement company called VIP Rentals. They were able to find me two tenants and got me through several Section 8 inspections. The staff has been very responsive to any request and returns calls quickly. I hired them for my second property as well and they found me tenants within 1 week. I was referred to them by two other local investors. 

Tarik

Greetings Troy and Congrats on your first purchase. I would definitely like to see some interior photos. What area or zip code is the property located in? I am a buy and hold investor as well and most of my purchases are foreclosures under $30,000. Who are you using for your HML and your inspections? Sometimes I will get an inspection done before I even make an offer. Are you planning to rent to a Section 8 tenants? I can recommend a good company for tenant placement and property management if you need one. Good Luck.