All Forum Posts by: Brittnie Stewart

I've been doing very well over the last few months in Tenant Placement, mainly specializing in Section 8. I want to venture into doing market tenant placement as well. But to me, because Section 8 is a bit more complex, there is a much bigger need for tenant placement in Section 8. 

What can I offer to market landlords that would make them want to use a tenant placement company.?

How can I find more Section 8 & Market Landlords? 

How do I pitch my company that would make all types of landlord feel that they NEED me and my company?

I started tenant placement in October, mainly focusing on Section 8 tenants. It has really changed my life! But I've had so much success that I want to venture out and do more. I've started doing tenant placement for a owner that accepts cash tenants. Lucky for me, he has his own tenant screening service that he uses; all I have to do is find the person, make sure they are qualified, and get the application.

However, I know that for many owners that accept cash rent that will hire a tenant placement service is going to want to hire someone that will pretty much take the load off of them. That being said, I am going to have to do the tenant screening myself before even presenting a person to the owner.

What does everyone use to screen their prospective tenants? What gives the best result and which is most cost effective?

This is a really tricky situation I'm in and I'm not sure my next move honestly.

I'll give you a little background on the house up for question and the situation.

The house is a 4 story row home in Baltimore City, go one street over, you're downtown. It's 3,570 sq. ft., 4 bedrooms, 3 bathrooms, end unit, a block over from Maryland General Hospital, few blocks over from University of Maryland School of Medicine and Maryland State Tax Building, and directly across the street from a historic park and church.

I got a friend who has access to MLS to pull some comps. The only one that has sold within the last year is .42 miles and sold for $577,555. In Baltimore, that is a lot of money and a pretty big distance. The last time a house on the same block as my subject property sold was in 2008 for less than $5,000.

With that being said, I have nothing to go on. I do feel like the area is pretty good and could definitely sell but where do I start negotiations with my seller. Not to mention I have not seen the inside of the house yet because he doesn't live in Baltimore and he wants to hear a number first to determine if it would even be worth his trip to show it. So, I'm not even sure how much work it's going to need but I'm estimating around $80,000-$100,000. It's an older place so I know it will need some updating, and you'll definitely have to put some beautiful finishing touches if even considering anything close to that $500,000 range.

Sooo... any suggestions or thoughts? By the way, he seems VERY VERY VERY motivated to sell.

I did some cold calling to some vacant property owners. I talked to one guy who said his house was going into foreclosure but talking to a friend who has access to MLS and looking around on the internet, the property isn't showing that its going into foreclosure. Why is that? And could I still wholesale this property since it doesn't look like to any other investors that its available through foreclosure? If so, how would I do it?

I'll be brief.....

I've been trying to get my questions answers from the site but I've been getting mixed answers.

Just so I am clear, after I have the property under contract, am I supposed to leave an earnest deposit with the owner and go find a buyer? Or I am supposed to take the contract and deposit to a title company? (I'm in Maryland by the way) From there, what is my next move? How does the double closing actually work?

Also, is it best to put the contract in my companies name or my name?

 I actually have developed a relationship with housing and take care of every aspect of it so that the owner does not have to.  So I think I have pretty much done very well with everything except for finding new owners but I definitely think things in this post will help out alot!

I began doing tenant placement which has started out really well for me. Alot of the investors I've began finding tenants for prefer section 8 vouchers.  Finding the section 8 voucher holders has actually been a lot easier than I imagined. I've placed everyone that I came across into a home that they liked. Now I've come across another problem. I'VE RUN OUT OF PROPERTIES!  my question is does anyone know how I can find rental property investors in Baltimore?  I now have a list of section 8 voucher holders but with no place to put them!

I kind of need some help with a personal issue. My fiancé and I have been talking about getting his now deceased grandfather's property in our name and fixing It up for us. Today, we checked the mail and there was a foreclosure notice in the mail. Unfortunately, his grandfather couldn't pay last years taxes before passing.

My question is, is there any hope for us? We don't have the money to pay off the certificate. Is there anything that could work in our favor. I've learned that if they were to foreclose and they bid higher than what the backed taxes were, that they would have to pay that bid amount to the rightful owner. How does that work? Is there any way I can check for the bid amount or any other valuable information pertaining to it?

Things seem to really be coming along for me, I just need to close on a deal! I am really close to this one and just need a little help.

Here are a few details about the property:

In the Federal Hill area of Baltimore which is very desirable.

2 Bedroom. 1 Bath, however there is plumbing, an old sink, and toilet that is "technically a half bathroom" per the owner. (Not sure if permitted)

998 sq. ft.

I estimate rehab costs of about $25,000 - $30,000 needs to be completely done pretty much.

The owner is looking to get $140,000 out of it. No mortgage, judgments, or liens.

I'm getting stuck on the ARV. Here are the closest comps:

2/1.5  932 sq. ft $239,000

2/1  912 sq. ft.    $189,000

2/1  912 sq. ft.    $192,400

2/1  924 sq. ft.   $229,500

What would you say is the ARV? How much would you pay or offer? How much would you charge for your wholesaling fee?

I guess my biggest issue is when doing the math and adding in my wholesaling fee, it looks like $140,000 is way out of the question, but I'm nervous the owner will think I'm lowballing and reject.

Still a newbie. I've sent out some yellow letters and now trying to get my buyers list going before any more calls come in. I got a few numbers and called around to ask what buyers are looking for. One happened to offer me a lead and said he just wants 25% after closing. He wont send me the address or contact information until we get some type of agreement together, which I totally understand. I've found a few bird dog agreements but they look more like agreements when you are hiring a bird dog.

My question is how do I create the agreement and what do I put in there to protect myself? Based off the information he did give to me, it seems like a deal that is definitely worth it.