All Forum Posts by: Russell Brazil
Russell Brazil has started 177 posts and replied 16824 times.
Post: Commission Fees for Buyer/Seller Agents
- Real Estate Agent
- Washington, D.C.
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Realistically at this price point, its hard to find a good agent. Even when they are charging you a very high percentage, the agent is probably operating at a loss. Most professional agents set a minimum dollar theyll do at these price points that will be substantial.
Post: First time home buyer in Northern Virginia
- Real Estate Agent
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Quote from @Mark Taggart-Perez:
Hello BP community!
My name is Mark. I am 31 years old. I'm a firefighter in Northern Virginia. I am single with no kids. My base income is ~$95k per year. With overtime, I grossed $139.5k in 2024. I am currently renting an apartment with a roommate. My half of the monthly rent is around $1300 with utilities. I have ZERO debts. I have a retirement 457 account with $120k (split amongst Roth and Traditional). I also have $102k in a money market account that currently earns about 4.5%. I've got about 7k in an emergency savings account.
I am in the process of getting several mortgage pre-approvals to compare fees and get an idea of how much home I can realistically afford.
I have yet to find a buyer's agent/investor to help me identify potential homes but will start on that shortly.
Ideally, I would like to buy a single family home. The areas I'm looking are Loudoun County, VA, Charlestown/Harpers Ferry, WV, and Frederick, MD.
My ultimate goal is to live in it until I can buy a second property and then backfill my first property with a tenant. Rinse and repeat.
It's my first time going through the entire home buying process and it's all a bit overwhelming and daunting. I have a few questions.
1. How do I go about finding the best banks or companies to get pre-approvals and is it worthwhile to get multiple?
2.(a) Is it okay to be looking at 3 different areas VA, MD, WV? Or should I really narrow it down to one?
2.(b) Is it okay to talk to multiple realtors at the same time (I'm thinking it would be better to have a separate realtor with lots of market knowledge and experience in each of the mentioned locations) or should I only plan to use one?
3.(c) Do any of you have some specific market considerations I should take into account OR that I should be researching (high taxes, pertinent rent laws, etc.)?
3. My money market funds are dedicated to go towards a down payment, closing costs, etc. How do I determine how much of a down payment I should make (keeping my goal of buying more properties in mind)?
4. Lastly, what other considerations or resources can you think of that will help me understand the process and feel more comfortable as a first time home buyer?
Thank you all so much for taking the time to read my post!
1) Get a few referrals from the agent you work with. You only need 1 preapproval, then can shop lenders when you go under contract.
2a) Yes, just make sure your agent is licensed in all the jurisdictions. MD/VA licensees are common, having a WV license as well as the other 2 isnt that common in the area. I only know a few besides myself licensed in all those jurisdictions.
2b) No good agent is going to work that way. Why put in all the work to only have you close a deal with someone else.
3) Talk this through with your agent and lender. Dont over extend yourself. Keep reserves. 80% of buyers experience a major unexpected repair in the 1st year of ownership.
4) Talking with an agent who can help increase your knowledge of the process and owning a home.
Post: Prior HOA extinguished fees in foreclosure?
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Very state dependent on this issue. Some states the entirety of the hoa lien is extinguished, some the entirety survivies, and some it's a 6 or 12 month claw back.
Post: Wholesale Friendly Title Companies MD
- Real Estate Agent
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Quote from @Mason Berry:
I am new wholesaler in the Baltimore area. I am currently looking for the best title companies to work with when it comes to wholesaling. If anyone has any recommendations, please let me know. Also, I am also looking for contracts as well. What would best the best way to obtain them? From the title company or a real estate attorney?
Reach out to @Tom Gimer at Eastern Title
Post: Renting vs selling Cumberland, MD
- Real Estate Agent
- Washington, D.C.
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Quote from @Ngozi Iwunze:
Hello BP community,
I'm closing on a property in Downtown Cumberland Maryland. Light renovation needed, 3 bed 1.5 bath. I came across some reddit post on the city and how tenant friendly it is, plus population decline. Apart of me wants to sell. My total cost is 40k, can resell at around $130. What would you do in my shoes
If you are talking about $90k profit before transfers in Cumberland...without question id sell it instead of holding it.
Post: Tenant Ignoring Renters Insurance Requirement – What’s My Next Step?
- Real Estate Agent
- Washington, D.C.
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You notify them you will be purchasing the policy for them and doing so with their security deposit money, if state law allows it.
Post: Is promoting buying rentals due to a conflict of interest?
- Real Estate Agent
- Washington, D.C.
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Id say the main question here to decide if there is a conflict of interest.....is the person saying buy rentals....are they buying rentals themselves? Im a firm believer in purchasing rentals. I do make money obviously when a client buys one. But Im also actively buying rentals myself, because I think its the easiest path to wealth. I also invest in other assets such as stocks, and private companies as well.
Post: Hello to the BiggerPocket Community
- Real Estate Agent
- Washington, D.C.
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Quote from @Marcus Czulewicz:
Hello! I am a newbie investor, originally from southwestern, PA and now currently located in Washington, DC. I have always been interested in real estate and engaged in BiggerPockets loosely while in college at West Virginia University. Since graduating in 2021, I moved to Washington, DC to pursue a civil engineering career and am now feeling like I am in more of a position to start learning and pursuing real estate investing seriously. I started diving back into learning by reading the Real Estate Rookie and was hoping to put myself out there and find some like minded individuals that are in the beginning stages of their investing career as well. Look forward to learning and connecting with the great people in this community!
Welcome to BP. Lots of DC area investors and pros here on the forums.
Post: New investor looking to learn about DC's market, make connections
- Real Estate Agent
- Washington, D.C.
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Quote from @Daniel Green:
Hey everyone,
I'm Dan, 35 here, I'll be able to make my first purchase in summer '26. I work in Potomac, MD, and would like to buy a condo or apt that I can easily commute and live in, and then eventually rent out, and then buy another.
I'd be happy to make connections over similar goals, and to learn about tax info for DC, great spots to buy, and trends for rentals. I figured DC would be a great area to invest in because it attracts tons of young professionals. Maybe you can prove me wrong?
Let's talk,
Dan
Welcome to BP. The market in the area is dynamic and continually changing. It has been though historically one of the most stable markets in the country, with very predictable patterns.
Post: Solar Panels on Foreclosure
- Real Estate Agent
- Washington, D.C.
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Quote from @Danielle DeCormis:
Working on a deal where the home has been foreclosed on by the bank but they indicate they have no knowledge of the solar panels or whether there is a lien. Has anyone dealt with this? Who owns the solar panels and what's my liability if I continue with the purchase?