All Forum Posts by: Tony Zhang

Hello BP, 

We're looking for an Investor friendly agents who are professional, motivate, patience and have good communication skill to help us search for our next single family investment property in the Greater Baltimore, MD Area. Can anyone connect us with a real estate agent that is familiar with Baltimore County (No city), Howard County and Anne Arundel County? Would like to purchase at least one property by the end of the year as long as the numbers work.

Thank you.

Hello BP community,

I have tenant occupied the property that not paying rent, and my property manager filed eviction against them and put my name as plaintiff. For the court date, since I'm out of the state investor, will I need to go to the court on the court date or the property manager will take care of the eviction process for me?

this was an inherited tenant, when we buy this property last year. from the takeover inspection report we did notice there's overdue maintenance needed. Also, when this tenant was living there we have spend around 3k in regular maintenance using our own. Maybe it's just the tenant issues, not the property itself?

Hello Everyone,

I'm looking for the suggestion, I have a duplex in st louis with one unit vacant that previous tenant move out at end of July 2022. They left it in a very bad condition, our property manager has estimated it need at least $9k+ for the repair to make it rent ready, we also has a contractor went out to see this property and he got back to us with repair estimate of more than $12k+. Now, I'm debating whether or not we should keep this property in our portfolio or we should sell it? If we decide to do the renovation, where should we finance this repair cost? Is it worth to spend the money to repair? Does anyone have the similar experience and what suggestion do you have for me?

Any comment/suggestion is greatly appreciated!

Thank you!

Quote from @Allicyn Aubut:

Quote from @Todd Lennig:

I really like Relay Bank.  It is an online bank, so if thats not your thing understandable.  Happy to pass on my reps contact info to you if you would like to do a quick demo with them. No minimum balance, close to unlimited bank accounts.  Pretty damn cool.

 Todd - I have been using Relay bank and like them too.  Although, have you found a way to open up multiple accounts with different EIN's for more than 1 property?  I may have to call customer service on this one!

 Hi Allicyn, I'm using Relay bank and I can open different EIN for different company.

Does anyone have good recommendation for the property management company that are serving the Jacksonville, FL area (32208)?

Hello BP, 

I have a property in the Jacksonville, FL under contract that is in the inspection & appraisal contingency period now. Its purchase price is $110k, and inspection report estimated that repair cost require of around $10k and its appraisal market value is about $170k. I've got interest quote from my lender with 6.2% APR (not locked yet); since I'm still in the contingency period, I'm thinking should I continue to investing this property with this raising interest rate? and will it be worth to invest this property with the high equity already in place?

Any advise on this topic "Should we continue to invest in real estate with raising interest rate?" is appreciated.

When we Buy a Rental Property Through an LLC, do we have to use our LLC business (money) checking account to transfer the fund to buy the property or we can use our personal checking to fund the property?

Quote from @Nathan Gesner:

Quote from @Tony Zhang:

Hello,

I have a property for rent and has few applicants that submitted the application and been approved, but they never paid for the reservation fee (security deposit). Is there any reason why they not paying to moving forward?

Many applicants will apply for multiple rentals at the same time. You may have approved them but they found something else sooner or better suited for their needs.

My policy is clearly spelled out. Once their application is approved, I offer them the rental and give them 24 hours to pay the security deposit. If they do not pay the security deposit, I offer the rental to the next person or leave it on the market for additional applicants.

wondering why they want to waste their time and application fee money to apply multiple rentals?

Quote from @John Teachout:

Maybe your approval process needs to be changed. Did they pay for a background/credit check? Were you able to verify their income? Are your requirements to pay the holding fee clear? If you're not accepting the payment in person, that could be an issue as people are afraid of being scammed.

 Yes, applicant paid their application fee to let us check their background/credit. Their application was approved, but not sure why not paying the deposit. You might be correct that they're worry about being scammed. But, this property is under my property manager it should seen as a legal entity for them.