All Forum Posts by: Kyle Deutschmann
Kyle Deutschmann has started 8 posts and replied 387 times.
Post: Central MD REi Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Kyle Deutschmann:
Next event is posted: https://www.meetup.com/dmv-area-real-estate-social/events/29...
Post: Recommendations for MD HOA attorney….
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Daria B.:
to deal with HOA sending false violations regarding my rental unit in addition to a nosy neighbor who complains about everything under the sun and moon. I know the neighbor is making a lot of complaints to HOA which prompt them to issue violations that I continually dispute. I am exhausted over this pettiness. My PM has stepped in from the beginning but as the owner it ultimately falls in me albeit both of us have disputed these claims.
In the beginning, my response was just OK. I will let the PM know and this will get handled because it was one legitimate issue regarding parking. This is now escalated into multiple violations over time issued for the same or other false violations and every time we look into it we don't find anything, and this is told to the HOA.
One being a dog on the premises whose unleashed or has elimated outside in proximity to my unit. First of all, I don't allow any pets in my unit and I know for a fact that the tenant doesn't have any, nor does anyone come to the unit with a dog. It's ludacris to think that just because they find elimination somewhere near the property that it has anything to do with my unit. And I said as much to the HOA without any proof, especially this unleashed dog. I believe they are now targeting me and my property and I need this to stop.
My last email response to them (HOA) was that I know that they are targeting me in my property and that all of this was coming from the neighbor next-door who clearly doesn't want any tenants living next to them.
Unfortunately, there are also other things going on and I’m looking into just selling and getting out of this community but that’s not going to happen overnight.
It was mentioned to me about a cease and desist, but I have no experience in this, and I'm looking for an attorneys advice that has dealt with HOA's, and neighbors, who make it there life's work to be an annoyance.
cheers!
Post: Looking for hard money
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Ethan Auciello:
i have a borrower with a 545 fico looking for a 65-70 ltv cash out refi. HARD MONEY
@Christopher Grobaker can you help with credit scores this low?
Post: Looking for a good strategy in Maryland
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Yoni Perlysky:
I work in Real Estate, but am brand new to REI. I currently have $150,000 cash to start investing. I recently moved from New York to Maryland and was hoping I could get some advice on a strategy in the area. I'm looking at Gaithersburg, but am openminded to other markets in the area, including parts of Virginia.
If you're okay with average cash on cash returns but a good chance of appreciation, I would consider PG County - there is a lot of money going into the "Greater College Park" area, the FBI moving to Greenbelt, new purple line coming through, etc.
If you're open to a city like Baltimore or the surrounding area, you might be able to find better cash flow but also potentially more headaches depending on where in the city you buy and what sort of tenants you're dealing with.
Ocean City I've heard you can make good money if you operate an STR well, but I've also heard insurance rates are skyrocketing there (as they are in most coastal areas), so something to consider.
DC. and NoVA are probably great locations for long term holds if you house-hack in one of those areas.
Post: Best zip codes
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
It really depends on your budget, your goals, etc.. I personally own properties in 21230 and am under contract for one in 21224; however, there are numerous other zip codes and neighborhoods I'd consider.
I would try to connect with an 'investor friendly' agent who knows and invests in Baltimore themselves, if that is where you are interested in buying. Baltimore is a very 'block by block' city and literally turning the corner onto a different block can yield much different results so it's good to work with someone who really understands the city.. I know a few good agents here if you need a recommendation
Post: Central MD REI Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Jack Seiden:
Also in the holiday spirit we are asking that you donate one of your properties to someone less fortunate, in lieu of that we will also accept canned and non-perishable food items.
In the spirit of "Giving Tuesday", I will match each canned food item (up to 50 cans) and will drop off all of our canned good donations to the Maryland Food Bank: https://mdfoodbank.org/
Homelessness and hunger are always a problem, but I've noticed it become much worse in the Baltimore/DC area over the past few years. Let's do what we can to help out the people in the communities we invest in.
In lieu of a canned good, please consider donating money here: https://mdfoodbank.fenly.org/teams/biggerpocket-central-md-rei-social/
Post: Central MD REI Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Looking forward to this next event coming up! Looks like we have a good number RSVP'd so far on the other page: https://www.meetup.com/dmv-area-real-estate-social/events/29...
BiggerPockets makes it hard to find these events so please share this with your investor friends, realtors, lenders, contractors, etc. in the central MD area.
Post: Central MD REi Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Next event is posted: https://www.meetup.com/dmv-area-real-estate-social/events/29...
Post: Seeking Hard Money Lenders for TN flips
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Kesha Hamilton:
Hello, I am seeking a hard money lender for a few TN purchases. Please let me know the requirements, what documents you need from me, and the terms/parameters of the financing.
Hey Kesha, I used to live in Nashville and have some good hard/private lender contacts. Let me know if you are still looking for someone.
Post: foreclosed house with solar lease
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Lilly Fang:
Quote from @Kyle Deutschmann:
Quote from @Lilly Fang:
If we buy a foreclosed house from the bank, but the house has a solar lease on it, do we have to take over the lease?
I was planning to buy the house to prevent it from foreclosure but decided to pass it after reading its solar lease term carefully.
The term says that the owner must pay for all the electricity the panel produces. This is an 1190 s.f. house. and the panels produce about 1000kwh a month. sell is paying $200 a month no matter whether he uses the power or not! I can't take over this lease as a rental. I will pass on the house and let it go foreclosure, but not sure what happen to the solar lease after it's foreclosed.
I hope the foreclosure will get rid of this solar lease, then I can contact the bank directly. I am usually for solar, but this one is excessive. If it produces 400kwh a month and I can pass it to my tenant, but 1000 kwh, no way, unless the tenant has an EV.
Do you know what solar company installed them/who holds the lease? Depending on the company, leases and Power Purchase Agreements are typically transferrable to the next buyer. If the electricity costs $200/month and you can get the same from solar, why not keep them? Obviously if the electric usage is less than that on average then it doesn't make sense and the previous homeowner installed 'too much' solar.
The solar power costs $200 a month, it's about 1000 kwh output. A home of size probably only uses 300 kwh (my house is 2000 SF and we use about 500 kwh a month in average, which is about $160 a month). I would rather the solar company remove it.
"6. Sustainable, energy-efficient homes are not optional -
Gen Z buyers prioritize eco-friendly and energy-efficient homes. This generation wants to save money on utilities, but they also want to do what they can to be more gentle with the environment. Gen Z buyers will look for homes with solar panels and energy-efficient appliances and finishes." Nov 14, 2023
https://www.housingwire.com/articles/14-real-estate-trends-g...
That being said, there are "good" solar companies and "bad" ones, just like any industry. If the seller bought them from a 'bad' / cheap installer then unfortunately they got what they paid for and yes go ahead and rip them off. If you are in our area and need help with that let me know.