All Forum Posts by: Ian Barnes

@Account Closed even though we haven't worked together before, you gotta understand great GC's are really busy.  The scope you would have paid $250 dollars for, is almost a roadmap into the mind of a reliable GC, it shows the breakdown of prices.  Gurus charge thousand for that same info.  Hopefully we can work together some day.

All the time.  If your getting it for a rental, you must either move the cable or secure it.  If a city inspector sees it and its a violation of code, they can potentially force you to demo the deck.  Let the llicensed electrician handle it, and you will be ok

There is nothing online, you must go to code enforcement/housing, at 417 lafayette and ask.  Remember this is a city that puts numbers on notices that lead to a voicemail that probably never gets listened too. You want to make the big bucks in Baltimore, expect too have a ton of problems, so those big bucks turn into small ones or find really good trades people and pay them to deal with the problems. Expecting the city to care if you understand what your getting into is not gonna happen, so don't even try.

1)Yes

2)No

3)Always has been 30 dollars unless its vacant

4)No, people that take care of their properties or have SEC 8 properties will not be affected, they will pass the test.  The only people that will be in trouble and might sell are slumlords, but then again, I'm sure they will be able to find a shady inspector that will look the other way, since the city doesn't require photos of the inspection.

Are you that loyal to Howard Bank that you couldn't just go to another local Baltimore bank and refi into your llc?  Sounds like Howard Bank wants the opportunity to go after you personally should you default on a loan.  There are plenty of local Banks such as The Columbia Bank, Revere Bank, Old Line Bank, Essex Bank, MECU, The Harbour Bank, Point Breeze CU, BB&T Bank, Columbo Bank, etc,etc that work with investors to cash out refi properties into a loan.  As seen above, you have quite a few options.

Take that million, and just do hard money loans, that's what I do with my investors passive money, take it at 10%, loan it out at 12% and 3 points, keep the spread, rinse and repeat. I happen to only finance projects that are rentals that my gcs partners do the work on, so I have a somewhat unique business model.

Bruno's Appliances, they have a facebook page

https://www.facebook.com/BrunosAppliances/

Go to Baltimore Investors Network on facebook, there's a tons of resources of local people mentoring.  People like Mark Owens(markowens.com) for rentals and Mike Green 10x house flipping, also Rehabber Pro, all local to Baltimore

What kind of notice? A use and occupancy notice that failed? The only way an inspector would tell you about those types of violations is if a permit was pulled or it was a section 8 inspection, either way take care of it now, pull proper permits, get reinspected, move on.

@Shadonna N., my 2 week or 1 draw test is seeing how the GC that I hired does.  If they are messing up a lot or not showing up on time or not working hard, I fire the GC and find a new one.  This was the first GC hasn't done enough damage to mess up the project.