All Forum Posts by: Chin P.

I'd check with an attorney that handles claims like this. If you're saying that the company was dissolved before the contract was executed I'd check into the possibility of a fraud claim with an attorney.

Interesting post Ryland Taniguchi . Thank you.

Russell Brazil Guy Harriss My second suggestion which I was going to make earlier but didn't was to BP-Stalk Russell as he's the resident splash of cold water on multi-family in MD. I swear half of his thousands of posts are just that. He's a good guy to know and probably has a better sense of the market for MF in Maryland than I do

Guy Harriss I'm haven't been on the lookout for multi-family lately. I've seen a few two unit townhouses in Dundalk near you, but if I'm remembering correctly the area is a bit rougher than most of Dundalk. There'll be similar inside Baltimore city in both good and bad neighborhoods. Outside of that, I think it's a bit hard to find in the Maryland area. There are some, just not a lot. In Hagerstown I've seen a fair number of smaller multi-unit buildings for sale there if that's of interest. Good luck.

Stephen E. I was thinking the same thing on the utilities/cable. Or even if they had some sort of premium insurance that will pay for locked in contracts like cable bills, maybe the tenant double dips and gets reimbursed once for cable at the old place and then again by grossing up rent for cable at the new place. A more benign way to look at it is that many rentals do include water, and sometimes electricity in the rent--probably because of how the building is or how the local market is. There may be markets that do cable too, just haven't heard of any personally. But that's a bit different than some sort of special side deal just because the insurance company is paying. The you don't need to screen me nonsense is just that and often a sign of someone who's hiding something.

Bob Hucker No specific experience renting to tenants with insurance loss. Red flags galore. I'd pass with no hesitation. Think of it this way. Most tenants are on their best behavior at the screening stage. The odds are that it will only get worst from here. Also, insurance company is in the business of collection premiums and limiting payments to the extent it can on other side. So you've got a payor who's incentive is to limit coverage. How long is the lease term? Will they be moving again in a few months? Is the turnover and releasing again in a short time worth taking them on? Is that cable/utility legit or is the tenant just trying to get reimbursed for something that the insurance won't reimburse for by sneaking it into "rent". Don't know. It would depend upon heir insurance coverage. If you end up taking them on, let us know how it turns out. Best of luck.

@Marc Woodward

Thanks for the update.  Always interesting to hear how problems actually work out in the end.

Welcome Yi Zhao Good luck on your flips. Curious. What made you change your strategy from buy and hold to flipping? There's a monthly Meetup in Gaithersburg and the BWI Meetup. The former is really close to you and the later is one of the bigger and better meet ups but is a little farther. You should check them out.

Welcome @Kafui Athiogbey.

BP is a great place to learn.  You might also want to check out the BWIMeetup, which is close to Laurel.

Hi @Neil Gentile,

Glad you're excited.  One more thing that I found helpful in my first purchase was having a potential contractor or two lined up to bid any repair work that needs to be done.  If you're looking at more ready to rent places, maybe not so important and the handyman can handle it.  But I find that most places I'm looking at need some level of work.  That way I was able to get some confirmation during the inspection period that my repair estimates weren't too far off or that I was missing something obvious.