All Forum Posts by: Russell Brazil

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I want to get my real estate license but I do not want to practice full time. I want it so I can get access to more properties and so when I go to buy my second investment property, and so on, I can save some money by not needing to pay an outside agent. Is it possible to get a real estate sales person license without having to go full time with an agency? Or can I get it without having to practice right away? Like defer my license until I am ready to use it? I really do not know where to begin with this.

Hi BP! I own one unit in an 8-unit condo building in Washington DC, which is doing quite well, as I'm renting out to a section 8 tenant. My concern is that our reserves are critically low, because of owners who have been in arrears for years and not paid HOA. I've learned that the non-paying unit owners have acquired their units via the Tenant Opportunity to Purchase Act (TOPA) -- when the rentals were converted to condos, they were able to purchase the units for a bargain, but were not prepared to pay for the recurring costs such as HOAs and special assessments.

We have tried everything to get our non-paying neighbors to pay up, but to no avail. It's been years and they are not being penalized, it also creates an incentive for other neighbors to also not pay.. all at the expense of the upkeep of our building. I'd like to ask for advice -- is there any legal action we can take? I'm open to any suggestions and recommendations -- keep in mind our building reserves are low so we've deferred on decisions that need payment (like hire an HOA lawyer) -- we are open to hearing any ideas, and if we really need a lawyer please help us find an affordable one. Thank you.

Hello,

At the end of the month I am closing on a primary residence that I intend to house hack. I am looking for insurance quotes for the PG County Maryland area. Can someone help point me to a good location to find home insurance brokers for my situation? 

Thanks,

-Isaac

 It’s in Butcher’s Hill 

Hi, my name is Jayme and have two properties. My first property I purchased  in DC in 2017. I have essentially been house hacking - renting out my basement and living with a roommate until Dec 2024. I have been considering another real estate investment property for several years and finally pulled the trigger and purchased a new home in Baltimore MD with the eventual intent to make into a MTR. I moved to Baltimore and am renting out my DC property netting maybe $300 per month. I could probably be making more but my basement tenants are great and essentially property managing for me while I am living in Baltimore. I rarely have to make a trip to DC for the house. My property in Baltimore, however, is significantly more expensive with a very high interest rate (335k, 6.8%). I bought bc it was a good deal in a great area - close to downtown, walkable with several restaurants and parks within blocks, Johns Hopkins is 3 blocks away for traveling medical professionals as well as students, plus there are several universities within 20 minutes of the home. I bought it as a primary - 3 bedroom two bath. I am living there with my roommate and renting out the top floor. I am coming out of pocket $1000-$1100 per month for this property. I am a little stressed over this. When I move back to DC, I plan to rent room by room, and if I can get the prices I am hoping for, I will break even.  I hear on the podcast that most people have a hard time making the jump but I might have jumped too soon?  have a feeling this was a mistake. I need to figure out how to think through this. Any help, advice, feedback would be grateful appreciated. 

Wife and I are moving out of state later this year. I would prefer not to sell our DC row home and instead try to rent it out in order to accumulate equity and at some point have a decent stream of passive income - at the mortgage rate that we are locked into I think we'd come close to break even after a few years. I have heard that managing a property on your own can be a nightmare, let alone managing one from out of state. Wondering if anyone here has recommendations for companies that they have used and/or strategies for managing a property long distance. Thanks in advance!