All Forum Posts by: Ryan Van Fleet

@Jeff Hennessey I'm just starting out in Real Estate Investing. Salisbury, Md is one of the key markets that I'm focusing on. If you'd like to connect I'd be happy to share what I know and what I'm learning about the area.

The one story I can share with is about Salisbury is about the East Church street area. This is the rough area of Salisbury. There quite a few properties for sale there. I even met a flipper trying to flip a property there. Anyway, I went to visit a duplex there and got pulled over leaving the area. It was fairly obvious I got pulled over, because I was leaving the area and they want to make sure I wasn't buy drugs.

I've been using Brennan Title Company for my Eastern Shore property. So far they've been good. They have an office in Annapolis. 

https://www.brennantitle.com/Default.aspx?tabid=444

@Rob LaRovere The house has all hardwood, original/ tile. They are pretty beat up so I'm not too concerned about the floors. It is common in my area for the students to cover the utils. I'm trying to find a competitive edge to charge a bit more in rent. So I'm thinking about covering the utilities and charging it back to them in a split with a small service fee.

@Ruth Bayang It is a very good point about having someone own up to a breakage. I'm not really sure how to handle that. I'm going to have to do more research on this.

To be honest I didn't buy the place complete right. I'm confident it will cashflow, but the buffer isn't quite right.  So I'm trying to maximize anyway I can.

I'm about to close on a 3/1 house in the Salisbury, Md area near the college. I'm in an area out of the corporate limits and have the ability to rent the house by the room.  

Does anyone have any tips regarding doing this?

Pricing, advertising, specific rules in Salisbury, lease, student proofing.

@Ukiah Austin I've been working with my sister who is based out of Ocean Pines, but does work in Salisbury, Snow Hill, and surrounding areas.  I'm closing on a buy and hold in Salisbury next month that she has been helping me with.

 Her info is below. I'll PM you her info.

Someone else might have more details, but here are some starting points

• Find a partner that can front the money
• Equity home loan
• Borrow against your retirement
• Private money: use the BRRRR strategy. Buy renovate, refinance

Here is the response.

Thats sounds crazy.  I hope you have someone check the rest of the ceilings in the building.  

I'm not sure about plaster, but I've had dry wall fall in sections that had previous water damage (2 years prior). It could have been a bad patch or previously damaged and then some new stress, temperature, shaking, vibration, etc could have caused it to fall.

@Chris 

@Chris T.  Thanks for the reply.  My area is Salisbury, Md. 

I've sent an email to my mortgage agent asking her about the price. I'll let you know what she comes back with.

As a follow up, Do I have to use the bank's appraiser, or can I go get my own?