All Forum Posts by: Thomas Giganti

My renter who has 2 children and currently resides in my rental unit just informed me that she got engaged to her boyfriend. The boyfriend has a child and they're looking to have them move in later this summer. Renter has been great thus far and no issues since moving in this past October. Leaning towards allowing it but starting a new lease with both their names on it and increasing rent by $100 (about 5% increase from current) since 2 more people will be adding to wear and tear. Does anyone see any issues with this? Anything I should consider before proceeding? Any advice would be appreciated!

Depends on the shape of the property but I've heard anywhere from 5-10% for estimating cap ex.

All, What are the screening requirements you use for College tenants? Any hard rules to follow? How do you weed out the trouble makers and partners as suggested in previous posts on this thread?

Any other income like alimony and child support?

You'll need to run the numbers to see if it makes sense but you could go hard money lender for rehab costs and pay it off once you sell the house. That's assuming all goes well and you can sell the house and make enough money to pay them back and still have some left over for you to make it worth while

David Sumner if they could pay 6 months advance then they shouldn't have any prior balance issues with the landlord. Think there is some major red flags here

I would look up standard operating agreements that outline terms between you and your partner. Also if you know a lawyer I'd run it by them to make sure everything is solid. Good luck on the business!

I've used accessible beige which went very well with my white cabinets. Good luck!

I was hoping to get some advice on best areas in Frederick to invest in a buy and hold property? Looking more for cash flow and areas that would have low vacancy. Somewhat familiar with the area but would appreciate any input from those who know the area better. Thanks!

I've actually been looking into Frederick and found a townhome in the Fredericktowne village/Monocacy village area that I'd like to see. Saw this thread and was wondering how these neighborhoods are? Frederick seems to have a lot of offer with the downtown district so close, ft Dertrick close by and hood college somewhat close. Does everyone agree the rental market is good? How does vacancy rates seem? I think someone said the rent goes for anything between $1300-$1600 for a 3 bed 2 bath home? Appreciate any responses or information!