All Forum Posts by: Lamont Marable

Hello BP! I'm looking at a 6-unit that pencils out. It has a pitch roof, good school district, 50k median incomes, unemployment rate dropped down from last year to 6.6ish, only downside is the population is dropping but I only need 6 families to live there. Why should I care if the pop has dropped 2.2%? Looking at the CoC, IRR, taxes, T12 and RR this might be great starter project for me. Anyone open to look at the numbers and assist with evaluation?

@Marge M. I'm looking at an apartment in the Boardman Ohio now. I'm planning to schedule a call with the broker and find out the 411. I'm looking for partners on the deals once I get RR and T12. It pencils out thus far from the flyer as a great deal.

This is a reboot for me as Mr. 19 halted my plans last year.  Hope to hear from you.

I just signed up as I'm looking at a 6-unit in that area.  Looking for a partner on the deal.

I'm in Waldorf which I consider the heart of SOMD.  Let's chat when time allows.  Send me your contact details.  

It's been a long time BP!!  Regardless, someone said that they would skiptrace my list for free but if a deal is generated from that skip that they would like a piece of change from that deal.  We haven't discussed those terms but what would you advise?

Thanks @Nick Macklin for providing that confirmation.  Are you ready to start sending my deals in Waldorf that meet those criteria?  

Hey BP! I'm thinking about doing a duplex conversion in my city and split the meters. Our codes aren't clear cut like other counties in my area as there is no R-2 zone. Rather, there is what's called an "Accessory Apartment" permit. Does this (see below) justify as it's written that I could turn a split foyer SFH into a duplex?

ACCESSORY APARTMENTS

Definition

“ A second dwelling unit that is part of an existing one-family detached dwelling, or is located in a

separate accessory structure on the same lot as the main dwelling, for use as a complete, independent

facility with provision within the accessory apartment for cooking, eating, personal sanitation and

sleeping. Such a dwelling unit is subordinate to the main dwelling.”

Regulations

1. There shall be no more than one accessory apartment permitted per existing single- family

dwelling.

2. If an accessory apartment is located in the principal dwelling building, the entry to such unit and

its design shall, to the degree reasonably feasible, reflect the appearance of the single-family

residential structure. No external entrance that faces a road or street shall be added to either the

principal dwelling or an accessory building.

3. An accessory apartment may be located either in the principal dwelling unit or in an accessory

building.

4. Within the principal dwelling unit, the minimum floor area shall be 300 square feet but in no

case shall it exceed 50% of the gross floor area of the dwelling in which it is located.

5. Within an accessory building, the minimum floor area shall be 300 square feet, there shall be

no more than two (2) bedrooms in the apartment, and the apartment shall not occupy more than

50 percent of the accessory structure.

6. Prior to the issuance of a building permit, approval of the proposed method of water supply and

sewage disposal shall be obtained from the Health Department.

7. Contact The Department of Planning and Growth Management regarding the

permitting process.

How do I attend the next meeting?

How would you write an LOI with partners without forming an entity together? We're looking at doing an apartment together.

Halting distributions are normal as mentioned as it helps with mitigating any loss on future rents for May, June and July.  I'm not a fan of GC due to the lack of respect that he shows for his wife on their show.  Additionally, I've tried unsubscribing multiple times from his emails and I continue receiving them.  I can't be the only one this is happening to.