My newest house hack in Baltimore City, Maryland!

Real Estate Deal Analysis & Advice
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My newest house hack in Baltimore City, Maryland!

Kyle DeutschmannPro Member
Investor · Washington, DC · Member since 2017 · 428 posts · 205 votes

Investment Info:

Single-family residence buy & hold investment.

My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..

What made you interested in investing in this type of deal?

#iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.

How did you find this deal and how did you negotiate it?

Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater

How did you finance this deal?

Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)

How did you add value to the deal?

Working on it as we speak

What was the outcome?

Hopefully positive.. fingers crossed!

Lessons learned? Challenges?

Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.

[email protected]
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Jack Seiden
Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 654 votes
2y
Quote from @Kyle Deutschmann:

Investment Info:

Single-family residence buy & hold investment.

My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..

What made you interested in investing in this type of deal?

#iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.

How did you find this deal and how did you negotiate it?

Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater

How did you finance this deal?

Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)

How did you add value to the deal?

Working on it as we speak

What was the outcome?

Hopefully positive.. fingers crossed!

Lessons learned? Challenges?

Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.


 Forgot to mention the most important part a detached home in Canton! One of only 5 sold in the last years!

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  • Jack Seiden
    Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 654 votes
    2y
    Quote from @Kyle Deutschmann:

    Investment Info:

    Single-family residence buy & hold investment.

    My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..

    What made you interested in investing in this type of deal?

    #iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.

    How did you find this deal and how did you negotiate it?

    Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater

    How did you finance this deal?

    Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)

    How did you add value to the deal?

    Working on it as we speak

    What was the outcome?

    Hopefully positive.. fingers crossed!

    Lessons learned? Challenges?

    Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.

    Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

    Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.


     Forgot to mention the most important part a detached home in Canton! One of only 5 sold in the last years!

    1Reply
  • Matthias Pieplak
    Rental Property Investor · Salisbury, MD · Member since 2021 · 18 posts · 7 votes
    2y

    @Kyle Deutschmann Congrats! - I invest on the eastern shore but some of the listings up in Baltimore have caught my eye recently. My biggest hold-back, I don't know the neighborhoods.

    0Reply
  • Kyle DeutschmannPro Member
    OP
    Investor · Washington, DC · Member since 2017 · 428 posts · 205 votes
    2y
    Quote from @Matthias Pieplak:

    @Kyle Deutschmann Congrats! - I invest on the eastern shore but some of the listings up in Baltimore have caught my eye recently. My biggest hold-back, I don't know the neighborhoods.


    Well funny enough, I'm actually doing the opposite and eyeing the eastern shore!  Baltimore is definitely a city you should know before investing here... or at least have good 'boots on the ground' you trust who understands the different neighborhoods, preferably someone who has both lived in and invested in the city themselves. It's a very "block-by-block", [unfortunately] historically redlined city, with $100k fluctuations in property values from one street to the next in some cases. 

    [email protected]
    0Reply
  • Brian Tome
    Attorney · Worton, MD · Member since 2014 · 274 posts · 195 votes
    2y

    Congratulations @Kyle Deutschmann!

    Sounds like a great deal.

    1Reply
  • Sara Frank
    Realtor · Baltimore, MD · Member since 2020 · 255 posts · 182 votes
    2y
    Quote from @Kyle Deutschmann:

    Investment Info:

    Single-family residence buy & hold investment.

    My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..

    What made you interested in investing in this type of deal?

    #iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.

    How did you find this deal and how did you negotiate it?

    Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater

    How did you finance this deal?

    Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)

    How did you add value to the deal?

    Working on it as we speak

    What was the outcome?

    Hopefully positive.. fingers crossed!

    Lessons learned? Challenges?

    Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.

    Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

    Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.


     I showed this one a few times but no one had the vision to make it happen, it makes sense that you would!! Nice work this location is unreal. 

    1Reply
  • Kyle DeutschmannPro Member
    OP
    Investor · Washington, DC · Member since 2017 · 428 posts · 205 votes
    2y

    Thanks @Brian Tome hope so! And thanks @Sara Frank! @Brian Tome

    [email protected]
    0Reply
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