All Forum Posts by: Justin Lanciault

What part of Maryland? That will determine the type of home you get, but in general buy a home with multiple beds, rent them out, save, and repeat.

Condo prices are down significantly. Ask your agent to pull comps to show historically data so you can see that prices are down. They will of course recover - I think by the end of the year, though I know folks more bullish on them then I am. Condos are the best buy right now in the Covid market, expect for possibly new construction - they haven't really lowered their prices too much.

Only you can decide if a deal is "good enough" not anyone else. With that being said, ask for rent rolls (if rented), rental licenses, lead certificates, and be sure to have a home inspection - Baltimore County isn't as regulated as Baltimore City, so it's more landlord friendly.

I am already seeing buyers priced out of PG going to Charles County and Baltimore, but PG is more cyclical then the rest of the DMV, so those prices could come back down. I did one in Temple Hills MD and was 1 of 81.

The conventional lenders that I have seen require this do it because it's a company requirement - which of course they can do whatever they want on top of Fannie/Freddie.

Is this a conventional lender? It would make sense that they would want it paid off in full before closing.

1.875 origination fee AND a processing fee AND a admin fee for the lender!? Thats a bit much

Baltimore surely caught your eye because of the prices (though they are steadily rising). I own in both cities and while I am bullish on Baltimore, it will never be DC, so it really depends on your long-term goals and what risk you are willing to take on.

Call the broker. All deals belong to the broker, I don’t know if you could change brokerages though

Originally posted by @Carlos J Gomez:

The guy who approached me was Andy Barclay 

GLOBAL LENDING COMPANY

690 PENNSYLVANIA AVE. SE,
WASHINGTON, DC 20003, USA

when I looked up the address it came up a bakery. Here a picture he sent me to show he was legit.  

 That’s clearly photoshopped.