All Forum Posts by: JR T.

Yes, you apply the security deposit only after you have regained possession of the property. 

You will spend around half of your rental income on the maintenance, taxes and operating expenses of the property. Maybe not every year, but over time that is what it will work out to.

#1

Forget the neighbors and go on with your life. If they bother you too much about your tenants consider changing your number. 

You don't know the assignment fee until you negotiate a price with a buyer. Your "fee" is the delta between what you agreed to pay and what you get a buyer to agree to pay.

@Bob Malecki Yes a mortgage loan is a consumer debt. 

Getting the collection agency license is simple. You do it all online and pay the fee and you'll be issued it shortly thereafter. Renewals are handled similarly online.  If you plan to sue the person for foreclosure, as noted above, you need to have been properly licensed as a debt collector from the time you acquired the note.

There is a lot of Maryland case law on how fair market value is calculated in these circumstances. It will have a lot to do with what the property is doing financially. 

Suggest you talk with the largest law firms in the state if you plan to take on Baltimore City.

@Kwame Knights Even if you don't obtain a Maryland LLC you will have to obtain a Certificate of Authority for your Wyoming LLC to do business in Maryland. Any revenues you generate here will be taxed here.

What I see in your proposal is a bunch of needless paperwork that will cost you thousands of dollars a year to maintain the entities with no tangible benefit to you tax or otherwise. 

Here is the list from last year's tax sale:

http://www.aacounty.org/departments/finance/tax-sa...

Here is a document that explains the process. Within you will discover when and how the 2018 tax sale list will be generated and published:

http://www.aacounty.org/departments/finance/tax-sa...

Sounds good I sent my contact info. Since my post a year ago we've improved our returns to ~12%. I would still say each property is too much work for the actual $$ it returns. Frederick is a much better market.