All Forum Posts by: Tyrone Perry

Good morning BP Family! I'm currently under contract for a duplex that has a slight mold issue under one of the baths & possibly in the attic (hvac drip), which may have dripped to the flooring underneath in a nearby hall. Should I back out? This is so new to me. The duplex is currently occupied on both sides. Property is in Illinois, however I live in Virginia. I'm concerned with current tenants coming after me, once the remediation is completed. Current owners have ignored a ton of maintenance issues, to include the mold. I've asked for $20k off to fix the problems. Is this something concerning? Thank you in advance!

Brian,

Did you end up using their license and permit package? I'm debating on whether or not to get it. Thank you!

@Joel S. I don’t think this particular market will thrive in the near future! However, I also don’t think the property will lose value. You made a good point. In the end I’ll have to figure it out. Thank you!!

@Will Barnard you definitely answered my question. There’s a property I’m interested in and the lender mentioned the balloon. It’s definitely a buy and hold for cash flow, so I may need to reconsider. Thank you for the info!!

Looking at buying my first investment property. I believe my lender is suggesting a 20 year amortization with a 5 year balloon. Is this a bad idea for an investment property? Hopefully this isn’t a dumb question. Thank you in advance!

Thank you! I’m sure I’m like most newbies. Waiting for the “perfect” first property, even though I know there’s no such thing.

@Jamal L.

Definitely great advice! Thank you!!

Good afternoon BP family!!

I’ve been doing some reading, listening to podcasts and talking to current investors. I want to buy my first investment property (buy and hold), however I live beautiful northern Virginia. The market is pretty expensive here. I’ve been looking at the Baltimore area. Has anyone had any luck investing there? Any suggestions or info would be greatly appreciated. Thank you!!!!

-ty