My Baltimore City Rehab

[JJ Conway]

I've been a real estate investor for many years now, but mostly passively.  My biggest "active" success so far is an all cash deal I just rehabbed and rented out in Baltimore City last year.  Learned a LOT!

Bought property for $3K, plus wholesaler's fee of $3K and taxes of $1.3K.  Still waiting for Baltimore to respond to my hearing to lower tax value.  Put 11K of work into it (would have been 8K, but I lost control of the rehab for a bit b/c I was pregnant, got sick, and had to get another contractor to finish the job).  Got it rented at 900/mo just before baby was born.  And, yes, she paid over Christmas haha.  Which I've learned is rare for Baltimore City.  Am very happy and looking forward to doing more deals like this.

[JJ Conway]

@Account Closed yep, that's the bill I had to pay at closing.  The houses were assessed at $70K. I appealed to drop it based on the purchase price being $3K and the fact that it's a block from riot ground zero.

@Kim Coleman it's in Druid heights.  Looking forward to doing more, but a job transfer looming in my future has me re-thinking. I don't feel that's the kind of place you want to be a long distance landlord

@Dmitriy Fomichenko it's a 3BR 2bth rowhouse. I was feeling awesome about the purchase price, but another one on that block sold for 1300.  Thing is, though, that one was boarded up and probably needed a TON of work.

@Nathan Peatrowsky thanks - I know that's how most people do it, but that burned me in the past so I'm sticking with cash deals.  Would love to hear more of what's working for you tho

@Bhekizwe M (and anyone else I may have missed) thanks!