All Forum Posts by: Robert Carl

@Nicole A. its not worth your time. Its better to use a company. You save money and time.

@Account Closed I dont use RentNotices anymore. They use to be effiecent. But they started filing my notices late.

I have a few properties that are rentals. I just paid an accountant to do some back years tax inome filing and this year. All the finacials were given to him on spread sheets. My question is about $1300 per year for an account is this really what accountants cost. Do I really need one for few properties. To me I might as well did the taxes myself. An paid the cost to the IRS. Damn

@Nicole A. I file right away when there is no payment. Baltimore City's extra hoops and culture of slum lords and non paying tenants makes it 6 weeks. Baltimore city 2 weeks for failure to pay rent date. 1 week to file eviction papers. Baltimore City wants you to wait for 2 weeks before calling the sheriff. The sheriff on a good day may give you an eviction date 3 weeks away. So really I was wrong its more like 8 weeks/ 2 months. My fastest been 6 weeks I think.

My properties are in C+ neighborhoods. Not alot of violent crimes more thief, trash, and some junkies. Bought where I could afford and was turning around until the housing crash. Now trying to trade up and out of Baltimore City. If you not downtown or really near the county line its for sect.8 housing only which I dont want to deal with.

You need to research and study more. Sounds like you might have jumped in this business early. I did the same thing now I read everything I can and try to design something for any problem that comes up. Check BP's Beginners Guide and Landlord on Auto Pilot by Mike Butler to start.

You need to research and study more. Sounds like you might have jumped in this business early. I did the same thing now I read everything I can and try to design something for any problem that comes up. Check BP's Beginners Guide and Landlord on Auto Pilot by Micheal Moore to start.

This issue adds up to large money. A tenant not paying at least in Baltimore City if you are filing ASAP can cost you almoust 3 months rent.

Numbers don't lie:

6 wks minimum to evict

+2 weeks for clean out and repairs avg. time

+3 weeks the avg. for most properties to be rented.

+ clean out and repairs($500) if no major damage.

If you rent for a $1000 a month you have lost almost $3000 in rent plus $500 repair cost.

Total $3500.

2 of these tenants in a year for the same rental. You might as well chalk a whole year up to a loss.

This problem of collecting on bad tenants has to have a solution. Big rental companies are able to do it on a regular basis. Im talking to lawyers now to find a solution.

Why doesn't Baltimore have a 3 day pay or quit rule. It takes at the earliest 6 weeks to evict a tenant in Baltimore city. Being a market rent landlord in Baltimore with a culture of not paying rent, slum lords, and the city being tenant friendly is hell. Baltimore does not have a lot of investors who are market landlords contrary to other statements.

I asked this question many times on here and nobody knows of a good service. I am starting to research this with lawyers now. This is the only part of my business that I do not have a system for. I was using Allied Debt Collections, they have a A+ BBB rating. They turned out to be a wasted of time. Drop my cases as soon as I asked for a time frame and missed many attorney update

@Nicole A. your doing the write thing by filing for failure to pay rent and breach of lease. Since Baltimore is a tenant friendly state and it takes a long time to evict a tenant even after judgements you need to file for everything you can. You will have them out by the next rent judgement eviction. Get your money dont waste time with deadbeats. Us small time landlords can't afford these set backs while trying to scale up.