All Forum Posts by: Tony Sepassi

I will contact him 

thanks for the advise. I did form a llc in md a month ago so that should resolve it. 

Hello,

I want to flip in Maryland, infact I have one property which I will be going for closing soon but I know Maryland has this law if you are a nonresident and have not lived in the property 2 years out of the 5 years when you do sell your property they will withhold 7.25% of the sales price.

Is there a way to go around this? Maybe form a LLC in Maryland and have a friend that lives there as a agent?

it's very hot in DC. Mostly cash offers too

Hi Russell,

I sent you a message.  

Thanks!

Tony

Hello,

I have a team in place to buy homes and fix and flip but it seems I can not find any deals in Montgomery county md or Fairfax county va.    I have two agents working to find for me properties but it seems they are very slow.

I sure could use some advise on how to go find the properties myself in the area.

Thanks!

Tony

I think that would be a great idea for DC.  I would be interested.  

thank you. 

There is a property that is coming up in the auction.  It is being foreclosed because the owner did not pay the condo fees total amount with legal fees is now $28K   I found out he got a loan in 2005 for $385K to buy the property, it seems he didn't even put a down payment.  I saw in the end of 2015 the lender assigned the deed to a trustee so to foreclose on the property and the amount is still showing $385K to be collected.

So in the past 11 years this guy didn't pay anything towards the the loan??   Can anyone explain how this can even be?

Dan ,

During the market crash of late 2008 and early 2009 was the time I bought directly from the banks. Today I still have the properties and they are all rentals.  

I'm looking again in the DC market. There are some deals   With the auction the property maybe occupied or empty.  I have heard if it's occupied it will take a year to get them out but if you can by at a discount it maybe worth it.