All Forum Posts by: Teresa F.

As a big Introvert, I can relate.  I don't regularly go to networking events (as an introvert I find them exhausting) but I do love meeting fellow investors.  So when I do go to an event, I make it a point to walk up to at least one person and ask what type of investing them do (I buy and hold).  Sometime the conversation never develops, sometimes we talk for an hour.  If I feel up to it, I talk to a second person, etc., but with one I have met my goal.  

My mentor, Mike Butler, is in your neighborhood.  I believe attends KYREIA.  If you can find him, tell him Teresa from DC said that you needed to meet him and ask him to introduce you around.  Best, Teresa

Hi Samantha,  Yes you should send her a formal letter introducing yourself.  But first check her lease.  My lease outlines the methods I accept for payment of rent.  Btw, cash is not one of them.  Your letter should tell her to whom rent is to be paid and where rent should be sent.  If there are other expectations you should cover them too.  As you go about this process keep in mind that you two are just meeting.  She is probably concerned about what this change in ownership means for her.  Your formal letter is an opportunity to define yourself as a professional who knows what they are doing and gives fair, honest, and respectful treatment to all tenants.  Best, Teresa

Hi Rob,  You have already received lots of great info.  For what it's worth, I think what you need will depends on what you will be doing.  If you are wholesaling you may want a great admin person.  Since you are new to DC you may want some folks to help in determining whether your potential deal . . . Is a deal.  Realtors, Contractors, fellow investors can help.  If you are rehabbing, I would spend a lot of time finding dependable, knowledgeable, craftspeople.  Best to you and welcome to the neighborhood.  Teresa

I second the Landlording on Autopilot.  Another option for a lease is the Nolo lease for your area.  I use the Realtor contract when I am managing for others but use the Nolo contract for my properties.  Nolo.com     Best, Teresa

Hi Dom,  This is a great idea and I hope you get some takers.  I have my DC property managers license and my brokers license.  The property manager exam is far more difficult.  The study guide will help a lot but pay a lot of attention to the commercial management.  Best of luck.  Teresa

Hi Lisa --  

LaVonne Torrence Berner  (TorrenceLegal.com) is not only a thorough professional, she is also a very nice person.  I've had her handle an eviction for me in DC and have referred her to others.  She handles both residential and commercial real estate law.  

Best, Teresa

Congratulations!  

Hi Deborah -- This is a personal subject for me as I live in a home with oil heat and have been investigating other options.  First, there may be an important reason why there is oil heat.  In my case, the gas line doesn't extend to my house.  The gas company just said that "gas is available for your home" what they forgot to mention was that extending the gas line to my home is a mere $15k.  I believe once the gas line is at the house the installation is around 5k.  I do not know if that includes disposal of the oil tank.  The oil company is pushing propane around 4k (which they will finance at 0%) the gas company will probably finance installation.  We are also looking at geothermal, probably around 9k.  I don't know if I would consider geothermal for a rental, I would need to check into the state and federal incentives.  Hope that helps.  Teresa 

Hi Chris

One of my goals for 2016 will be to attend a Robyn Thompson bootcamp.  One of my colleagues (who is now doing multi-million dollar developments in DC) strongly suggested I attend.  He said that after attending her bootcamp, he completely revamped his already successful business and it now runs much more efficiently.  Best, Teresa

Hi Brandon,  Welcome!  As you can see Maryland is well represented on BP reach out to any of us if we can be of help.  Teresa