All Forum Posts by: Thierry Lemercier

@Tchaka Owen thanks for the info.   This is exactly the type of information I wanted to get at!  Reading it online is one thing, but have personal knowledge of investors that have gone through it or are currently experiencing is invaluable.  Thx for sharing and caring!

HI @Mark Cruse Strategy will be to acquire single family homes in MD with a 50 miles radius of DC.

HI @Jonathan Tavarez thanks for the insight.  I'll stick to MD for the moment and more specifically National Harbor, Ft Washington and the surrounding area.  Any thoughts on that?  I am in the process of finding local contractors and networking with real estate agents in the general area.  Since I just got here I am taking the time learn the market prior to moving in on my first property in MD.  Have you made any deals in the area? Could you share your experience? Thx,

T

Good day y'all,

Planning on investing in Maryland. Would anyone care to share your experience and knowledge of the local area in and around Washington DC. What would be the pros and the cons? What should one take into consideration when buying? What are the tax advantage if any when compared to VA of DC?

I thank you in advance for taking the time to read this post and share your thoughts.

Sincerely,

T

Hi Nathan and Joe,

What do you guys think about Avail?  It is actually advertised above this conversation and I have used it for my rentals in Maui.  When you register, and depending on the level of service you chose, you can draft a lease agreement.  I enjoyed the tool, but now that I am with a management company I have moved away from it.  Would you recommend it?  Aaron hopes this helps all of us and great question.  I also recommend setting up time with a CPA if you don't have one and a real estate lawyer.  Both have proven to be very valuable to me during this tax season.  Also, don't forget to keep track of all you rental related income and expenses.  Keeping track on a monthly basis is a good habit and makes tax season much easier.

Thanks for sharing and caring.

T

Hi Greg,

My wife and I bought the property back in early 2017 after moving to Maui only a few months before.  I used to work for the 4 Seasons on Lanai and then found a job on Maui at the Fairmont since Lanai was not for us.  Beautiful, but a little too isolated.  I have since moved away from Hospitality and now a property manager for a UHNWI!  Now the unit is rented and as you said there is a shortage of rentals on island or at least good ones.  We renovated the place top to bottom and even went overboard.  We would visit similar places in KV that were for sale to see how they would would compare!  Did not even come close to ours in quality and simplicity.  Of course this is all subjective as ones tastes are very different.  In doing so our units rents in days when potential renters see it.  It's like they walk and they want to sign.  Same for the unit in Southpoint.  My contractor was ADX construction, Armando, great guy! My real estate guy is Reggie Audant and the property management company, with whom I have just signed, is Pali Kai rentals.  I love this market and agree with you that there is a shortage and will always be!  Looking for more to buy when the time is right.  Looking forward to connecting with you and see how we can grow together.

Mahalo,

T

Thanks Patrick!  Love the area and would certainly make other deals if and when they come up. Let's connect and stay in touch.

Cheers,

T

Hi Nathan,

Thank you for taking the time to respond to my inquiry.  This is great and I will use the link you shared with me to gather more information on the topic.  I sort of figured it would be that way. I work for a UHNWI and manage his personal property which I guess is very different.  I have 2 properties in Maui and always think that I can do a better service than what they offer me which is the reason why I am asking.  I have been in hospitality for 10 years now and have a good understanding of how to provide that best service owners would be looking for because I am on both sides...  The road is long and windy, but thanks to you I have more information to off from now and will continue to educate myself.

Thanks for sharing and caring.

T

Top of the day to all,

I am interested in starting my own property management company. Does anyone have any recommendations on how do to this in VA? Do you to be licensed as a real estate agent or broker? Do you need any type of special education?

Thank you for sharing and caring.

T