All Forum Posts by: Nancy Roth

Don’t you have fire code laws in California? In Maryland you can have 2 people in each bedroom plus one. So that family of five could make it work in a 2-bedroom apartment, but in a 1-bedroom apartment they are violating the fire code laws, and as a landlord, so are you. This has nothing to do with immigration, it’s a liability issue for you and a safety issue for them. Two of the people need to move out. 

Take care of that first, then raise the rent to the extent you are allowed to. 

@Haritha N. I don't know if you are still looking for that All In One loan, but if so, you might check again with Ridge, which I believe is offering it again. In fact, when you go to the Ridge website you might see a link that connects you with the Tuesday afternoon online discussion Caeli Ridge now hosts. I don't always get to that talk, but last week she had explained the All In One loan, which I had never heard of and am very interested in now. Trying to learn whatever I can about it. Feel free to send me a direct message via BP if I can be of help. 

Best of luck,

Nancy Roth

@Mary M.

Google "89%"-- it was all over the news last week in anticipation of the Supreme Court's decision. NY Times, etc. 

@Mary M. Unfortunately the states that received rent assistance funding from the Fed’l government have not been competent in getting those grants out. The Treasury Dept just announced that 89% of the funding allocated to states for rent payments has yet to be released by the states.

I have a tenant who lost her job at the start of the pandemic. She has tried to pay as she could from unemployment. But she has fallen behind by a couple thousand dollars, which she pays down periodically, but it jumps up again, of course, with each new month.

Maryland has an extremely complex tenant grant program that requires both tenant and landlord to apply online. It’s all done online, and her access to Internet is limited. I was able, taking a lot of time, to complete my part, but it proved too hard for her.

So I for one was not surprised at all by the Treasury Dept announcement.

I don't see how you cash flow with those numbers.

Thanks for these granular insights about the neighborhoods. I especially appreciate how the subtle differences within neighborhoods are delineated and described, like the various parts of Germantown and Mt Airy, and in Cobbs Creek and west Cobbs Creek, which are the neighborhoods I know best. I don't have such deep knowledge of Philly as this, but this outline certainly correlates with what I have observed. Please also post the map when you complete it!

I signed up for Fund & Grow last summer, thanks to your earlier endorsement. First round of funding netted a little over $50K. It's also pretty eye-opening to learn about the opaque world of the credit industry, which rules the world with an invisible hand. I don't know where else I might have received this information. They are doing a real service. 

Maryland and DC have "income discrimination" prohibitions similar to what @Patti Robertson describes in VA. There has been a lot of fuss about this in DC because certain landlords (foolishly) advertised that they accepted no vouchers a year or two ago. I have nothing against the tenants who hold vouchers, but I also hate the Section 8 program like hell because of its bureaucracy and lack of transparency and that whole ridiculous inspection process. No law can compel me to participate in it. But I wouldn't advertise disrespectfully about vouchers,either. That's asking for trouble.

No it's because the foreclosed LLC had several monetary claims filed against them in a "foreign" jurisdiction--a neighboring county. My attorney didn't think they were valid because the claims were against the LLC, not the property. But the settlement attorney said the claimants could refile their claims as liens against the property, even though it had fully been foreclosed through the DC Court. Thus the settlement company, which was chosen by the buyer, would not move forward.

We had to notify each of the claimants about the foreclosure. None responded. The time elapsed, we got a second judgment, and they were finally cleared so we could close. 

You never encounter that? 

Thanks,

Nancy

@Ned Carey 

I wasn't talking about the law, but about the market. I'm sure you get a ton of lis pendens properties coming out of foreclosure. How many settlement companies are willing to close a transaction when there's a cloud on the title? And how many buyers will take a property unless they can get title insurance on it? 

Mine came out of foreclosure in lis pendens last year, the buyer's settlement company would not close the sale, and it was an expensive PITA to get it cleared. I could not find an insurer willing to underwrite it. But the buyer was able to get title insurance. 

Thanks,

Nancy