All Forum Posts by: Jessica Hanyok

Feel free to message me directly and relay where the address is, or just the street name. I live in Parsonsburg, but own several rentals in the Salisbury area and am a Property Manager for several homes in Salisbury, Fruitland, and Princess Anne. There are a few places I would steer away from buying in Salisbury. I relay to prospective tenants to check out www.crimereports.com but the one Nathan recommended is interesting and informative. I was looking at the site and it shows some areas as deep red, though I own a couple rentals in those areas and have no issues.  I've noticed quite a bit of these areas are being invested into and bringing the neighborhoods up.

Regardless, feel free to reach out. I will be happy to discuss and provide opinions or insight if needed/desired. Good luck on your investing!

Hey Leonard,

Feel free to message me the area you are looking in and I can give you my opinion on that specific area as my husband and I know Salisbury pretty well. We have looked at property in all neighborhoods at this point and know which ones we personally try to stay out of.

Hi @Leonard Rybak!

We did acquire more properties since the last time I posted on this thread. Not really sure what successes/failures/cautions I can help provide insight on. However, it seems rental prices are still high but plateauing, and I know there is an influx of rental supply coming soon. However, whether or not the new construction rentals will reduce the current high rental rates is a story yet to be told. 

Right now its the same story of supply vs demand. There is little supply, thus creating high demand and allowing the "supplier" to choose their pricing. The new construction prices I've heard, are not any lower than current market rents, but those that can afford the slightly higher rates for newer/nicer commodities will, of course most likely take the option and in turn create a competitive pricing structure for the "not so new" homes in the area. The point I am trying to make is what you've already heard. Supply is limited (right now), but buy in a nice area, make the home a place you could see yourself living in, and buy it right to price it at a conservative rate if needed.

Not sure if I even helped answer your question or put your mind at ease. Nevertheless, feel free to reach out with any other questions you may have. Happy to help!

- Jessica

Hi Matt,

Yes we have some recommendations for you. I will send you a message with the details.

Hello, we were hoping to try to make this but it just won't work out this time. Let us know when there is another one or if you reschedule!

Hi BP!

Has anyone successfully fought a CDC Declaration submission? I have a student on an individual lease that has filed this form to prevent eviction. She works, i have money judgement, but the court houses are so backed up they haven't even processed my wage garnishment. Now that the CDC has extended to July 31st, i have to reschedule the eviction again! This tenant is not seeking assistance, has not had substantial loss of income (full time student and was only working part time, guarantor did not complete the form but is not being responsive either), and is not facing homelessness as she has her parents home to go back to.

I was going to file a motion with the courts tomorrow as i have already received my judgement, but because she turned this form in, i must not pursue the eviction otherwise i am subjected to fines if she files suite and wins. My hopes are that with a court hearing regarding her CDC submission, i can get her guarantor in court and request they provide documentation of how they've had substantial loss of income, etc. And also explain what "Penalties of Perjury" means, though that is an empty threat i am sure by the CDC.

Thanks BP!

Cordially, 

Jessica H.

Hi Kuriakos,

I think you should keep the current tenant on another 1 year term at the $350 increase, then at the time of renewal conduct another increase to get it to market rate. This way you reduce your vacancy loss, rebuild your cash supply and even have time to BRRR the property if so desired and have better cash flow. You also do not have to offer a full 12 month term. You could offer a 9 month term to have your lease end in the peak season of June/July/August. And once you've established the property after said renewed term, and if the current tenant decides to not agree to the increase again, you will have the funds ($350*9 =$3100; $350*10 = $3500; 350*12=$4200 and so on) to cover the rehab costs and still have a little reserved.

On a side note, the current high interest could be the fact the supply for rentals right now is very low with the real estate market booming and current landlords cashing in on this market, and the fact the eviction moratoriums are ending and court houses are getting back to normal swing of things. This is what I am at least seeing in my market at least.

I would recommend following suit with your property managers suggestions, but it is ultimately your decision.

Good luck!

Cordially, 

Jessica

Yes, my husband and I are active investors and are looking for deals as they arise. We currently have two investment properties and are looking to expand our portfolio. We'd be up for connecting and discussing deals!

HI Vamsee, 

Were you able to find a quality property management company?