All Forum Posts by: Eric H.

Great morning @Bryan Tasumi,

I think 10 miles is too far for college kids to WALK through a war zone to get to school. Furthermore medical students, graduate/post graduate students, and doctors are definitely not going to want to rent there because they can AFFORD to rent elsewhere. I am coming from the perspective of a former college student as well as helping a landlord go through tenant applications in an affluent area. A great deal of applicants were of your target demographic. There are a number of colleges in this particular area and it was probably max 6-7 miles away from the farthest one. Ultimately, you won't be able to compete with the properties that are closer nor the ones that are farther but may be more expensive.

Happy investing!

Peace!

Great morning @Laticia Braxton and @Account Closed,

I recommend Anthony Onwuanibe, Golden Trust Title and Escrow.

His specialty is tax sale but will be able to help you all out.

Happy investing!

Peace!

Greetings @Zackery Bagby,

I would argue that PROPERLY screening tenants is the biggest determinant of landlording success. I would begin with reading The Book on Managing Rental Properties.

Some tips I can offer.

• Do a site visit to the prospect's current residence. It will be an indication of their housekeeping skills and ultimately how he or she will treat your house.
• Verify employment. Do not call the number on the application. Look up the business online and use that phone number. Tenants do lie you know......
• Verify previous rental history. I've had prospective tenants lie about this too. To sniff them out I ask the 'landlord' what was the address of the rental. If they stumble or if it doesn't match the application, DENIED.
• Take a look at the tenant's car. Another indication of housekeeping skills.
• Background check.
• Make sure you charge a non refundable application fee. Check your local laws to see what is the max fee you can offer.
• Value your time. Have prospects confirm showings at least one hour before scheduled showing via text or phone call. If a tenant can't abide by this simple task, he or she will have a hard time abiding by your lease.

Most if not all of these tips I got from the aforementioned book and utilized them in my tenant screening process. Disclosure: I am new to landlording. I own one rental and my tenant has been in place for four months. So far, so good.

Happy investing!

Peace!

Great day @Shar Day,

Try this link and call the Rental Assistance office to get your questions answered

http://www.princegeorgescountymd.gov/directory.aspx?did=274

Happy investing!

Peace!

Great morning @Diana Lim,

You can check BP's File Place for an agreement. I would highly recommend that you have any agreement that you get here or elsewhere reviewed by a local attorney before using it.

Congratulations on taking action! I wish you the best!

Peace!

Great morning @Andre Wilson,

Check out this thread on marketing techniques

https://www.biggerpockets.com/forums/87/topics/182181-what-is-your-best-marketing-technique

And this one on finding buyers

https://www.biggerpockets.com/forums/93/topics/54108-buyer-s-list-how-to-

Additionally, you should let every one you know that you are in the real estate game and looking for properties. Tell them to tell everyone they know. You are not alone in your struggle to find quality deals. Identifying and securing great deals takes effort, patience, and consistency but can be done.

Happy investing!!

Peace!

Great morning @Chandan Lodha,

DEBT, DEBT, DEBT, DEBT, DEBT, DEBT!!!!!

My wife and I have a ton of college debt that I wish would be wiped away. We also made some dumb purchases in our early 20s that we are now regretting. But......you live and you learn.

Great morning @Peter K.,

If that was your H&B, walk away. If not, give your H&B and let the chips fall where they may. You should already know what your max offer will be before submitting an initial offer. On houses that are 'hot', an agent asking for H&B is not uncommon.

Happy investing!

Peace!

Great morning @Michael Landrum,

I would be upfront and honest with him or her and get straight to the point. I'm going to assume you trust this individual so I would analyze the deal, present my numbers and ask would he or she like to partner on the deal. Some consideration on your part beforehand will be what kind of partnership are you looking to have with this person. Are you looking for a loan or are you looking for a bird dog fee w/opportunity to shadow during the process or are you looking for an equity partner. All of these scenarios have additional details that need to be worked out and hopefully your mentor can help you with that.

Happy investing!!

Peace!!

Great morning @Davian Brown,

Check out these links to find HML in your area.

https://www.biggerpockets.com/hardmoneylenders

http://aaplonline.com/member-directory