All Forum Posts by: Tyrone Marson

@Randall Alan I’m using an unsecured line of credit to finance half the deal and the remainder is my money. I plan to refinance the deal and pull the money back out to purchase another property. I am using the Brrrr method.

@Peter T. Why won’t they do that?

@Randall Alan I really appreciate your feedback and it has placed in the mindset that I can identify the things I can handle as I learn and then outsource the others, until I am fully up to speed with the operations of renting a property. Also, this property will be an all cash purchase.

@Alan C. definitely Baltimore can be very challenging for even experienced landlords, much less a newbie like myself. That is why I wanted to incorporate the use of property management, but not have them offer a full case service as I would want to learn some of the maintenance that is involved in maintaining a property as it is my investment and also I get to build direct relationships with contractors/handyman. On the other hand, I have no interest in dealing directly with the tenants or dealing with the listing/leasing process, evictions. So my idea is basically outsourcing to the professionals the areas I have no interest in handling directly and dealing with the other aspects I want to learn. I work 9-5 so I don’t have the flexibility to go show the property to prospective tenants. Also, I don’t need to be getting calls all hours of the night from tenants, so PM interface with them directly and pass on maintenance request to me doing business hours and then I call my guys to go take care of it.

@Randall Alan great information, so direct deposit would be set up through rent tec? How is late rent handled? Also, how are evictions handled if needed? I don’t want my tenants to know I am the owner so I would operate under the guise of a property manager.

I have made an offer on a property in the Belair-Edison area of Baltimore, which I will rent once closed. A couple things I need the communities help with. I am planning to use a listing agent to market the property to rent and vet tenants, once tenants are in place I would pass on to a property management to collect rent, handle evictions as needed, maintain books, take maintenance calls and schedule routine maintenance. However, for the maintenance calls and routine maintenance I would have the PM call me and I will have these calls taken care by my contractors/handyman. Will property management facilitate I handling the maintenance of the property and they just take the calls and make routine maintenance schedule?

@Mike Morawski thanks

Best areas to invest in SFR rental properties in Georgia?

Which websites/tools are best to use for market research of rental property investment and what markets are best to invest in for rentals?

@Cyle Harris how long did the entire process take from acquisition to disposition? Did your rehab stay on budget?