All Forum Posts by: Jade N.

@Ozzy Sirimsi thanks!

@Blake Harris I am not sure I understand your question completely. To my knowledge the market rent has not changed during the pandemic. So yes, it still cash flows. Majority of the rent is subsidized so expenses are covered. 

@Shawn Ackerman Deal was done prior to the major impact of COVID but I think its still a good deal. Thanks!

@Anthony Simboli Wise advice. Definitely went back and forth on pros vs cons and strategies for potential scenarios. Will continue to do so as things develop. Thank you! 

@Marlen Weber Thank you!

Thanks @Alex Olson. I decided to move forward. I'm sure I'll learn a ton during these times!

Hello,

I am a new investor and am in search of an affordable but reputable exterminator (insect & pests) in the Baltimore area. Does anyone know the average cost of an exterminator for mice? I contacted Orkin which states it takes a year and totals for $625. Is that average? I don't have many contacts in Baltimore yet, so I find I'm spending a lot more on repairs than most investors due to lack of connects. Any assistance is appreciated!

I am scheduled to close next on my first property. It has good cash flow but with the state of the country I'm wondering should we walk away? There are talks of recession and worries about tenants not making rent. Not to mention the basic fear behind my first property. Not sure what to do and would love some feedback. To buy or not to buy? What would you do?

Hello All,

I placed an offer on a property I thought was a good deal. However, the inspection revealed that the foundation had undermining and there were 2 vertical cracks in the foundation that need sealing. The response from the seller who is an investor is that the the basement has a"floating floor system" so when the tenant puts heavy items on it, it pushed up the floor in other areas. 

I'm trying to determine where to go from here. I want to at least have a contractor come in to confirm the information provided makes sense or give me a quote on repairs. I'm told that the foundation cracks aren't too expensive but the undermining and uneven floors concern me. I would hate to put too much money in the property making it not worth the investment. 

Can anyone provide any guidance with this problem? Should I be concerned about this floating floor system was inspected to be undermining? Is that a common mistake?

@Darius Ogloza I hadn't considered that. I'll check with the realtor. Thanks

@Jaron Walling The meters aren't split so I'm responsible. I agree, it's a big investment for 1st time. I'm nervous but based on the numbers I didn't want to walk away.

@Jeremy Smola Thanks! I'll have to research that. 

@Kevin Laurion Thank you for your response. CapEx is typically 10% right?

@Dennis Wasilewski Thanks! Still nervous about the financial commitment. Projecting to recover the initial investment in 5 years? I know BRRRR is ideal, but I'm still trying to find that type of deal.