All Forum Posts by: Uchenna A.

In MD, whether buyer is represented or not, seller is obligated to the ENTIRE agreed upon percentage which goes to the listing broker. The listing broker then shares it with a cooperating broker who brings a buyer. If buyer has no broker/agent, seller still pays all (5% or 6%) to listing broker. He saves absolutely nothing so I don’t know where this strategy works.

3 Votes

@John Apple

In Maryland, you can file a complaint with the Maryland Real Estate Commission and they will investigate and get you paid IF you have a contract to that effect.

2 Votes

@Colin Williams

May be unique to Maryland. Learned about the code requirement from an inspector when I floated the idea of removing them since they require frequent maintenance/replacement.

0 Votes

@Zee Ayezain

Per code, you MUST have a garbage disposal (GD) installed IF you have a dishwasher. So to answer your question, removing the GD is against code if there is a dishwasher installed.

1 Vote

@Brad Fausett

Thanks for admitting the report was indeed attached.

One more thing to clarify - what part of the POF had your name on it? Was the referenced bank account a joint account?

3 Votes

Cleveland, Ohio

@Manuel Rivera

Section 8 will go with comparable rents for similar units in the area. The numbers you see on their site although real, are not practical numbers. They never pay close to that because those include all utilities.

As far as smoke alarms, city of Bowie requires that you have them in all bedrooms while PG does not. If your property in Bowie is within city limits, you will need to install in the rooms. The good news is that the 10 year battery ones are good enough for the rooms.

0 Votes

@Jennifer Bryant

Congratulations!

Pardon me if I missed it but how much did you rent it for?

1 Vote

Originally posted by @Tyler Gibson:

@Uchenna A. many people come to the forums asking questions similar to this. I'll be the first to answer on yours but my answer is the same as most of us on here so here goes. It depends, what are your long term goals? For me, looking at those numbers I can't think of a reason to sell it unless you want the equity to reinvest in something else. If you want the equity to go buy something else why not look at a cashout refi? If you want better cash flow why not look at Refi on the loan. Looks to me like you are getting, or could get close to $800/month cash flow which I think is pretty good. I guess the long and the short of it is, there are a bunch of people here on the forums that can tell you how to get something accomplished but it is much harder to provide guidance on how to get someplace when we don't know where you want to get to. I hope this is helpful in jumpstarting your thought process and if you can give more specifics as to what you want to accomplish I am sure myself and others would be happy to give plenty of advice.

Thanks Tyler. My long term goal is to acquire a few more buy and hold rentals. I have zero need for the equity at the moment. In fact I even find it very difficult to compete in the current market buying additional rentals because I keep comparing today's prices to prices of properties I acquired in the last few years. You make a very strong case for holding it but I will see what others have to say about it. Thanks again!

0 Votes

All Forum Posts by: Uchenna A.

Uchenna A. has started 3 posts and replied 50 times.

Post: Hot water heater replacement estimate

Post: Seller suing me for backing out

Post: Dump Your Real Estate Agent

Post: Buyers purchased a house with another agent behind my back

Post: Replacing leaky sink garbage disposal against code?

Post: Replacing leaky sink garbage disposal against code?

Post: Buying from Holton Wise- poor communication

Post: Section 8 Rates in Prince Georges County Maryland

Post: First Investment Property in Baltimore Near Hopkins!

Post: Should I Sell or Keep As Rental?