All Forum Posts by: Jamaal Hunt

Everyone is going after the NE baltimore market. Reason being is it is a mixture of homeowners and long term renters. It doesnt hurt to hit the colleges too. Morgan, John Hopkins and Loyola. I like duplex/triplex which is why I brought up my point of small multifamily properties of 2-4.

However Reservoir Hill is supposed to make its comeback.
The city government is trying to revitalize Odonnell Heights (yuck) and the Remington area is getting some improvements over there. Especially since it is hot for the college market investor where JHU is walking distance.

From what I was told DC is too saturated right now but on the real the one thing that freaks me out about Baltimore or the state of MD is LEAD PAINT LAWSUITS sighes.

dang I guess the "smaller" will do for me

Found me another.

It is a 2 unit 1/1 and 1/1. It is listed at 64,900 and rents go or about $850. It is one of those Fannie Mae properties.

http://www.zillow.com/homedetails/3530-Pelham-Ave-Baltimore-MD-21213/36572328_zpid/

From the looks of it, it appears clean but of course I didnt check it out yet since I am waiting on the pending mortgage that I have applied for. Im not even paying attention to the list price. Should I place and run my numbers on what the cash flow would be as if I am not living in one of the units? Thing is however I will be living in the unit. Ill post my numbers later.

You're wrong completely. Baltimore is slowly up and coming and depending on your strategy (Landlord) and location you're bound to make cash flow. Baltimore is the cash flow capital of the world. (yes i am stretching it) The multifamily market is the way to go in baltimore. if you can get one for the cheap and not too much in repairs Ill jump it on before the storm.

fair enough. I have plans to purchase me one in the later future where I am renting one out while I am living in the other one. Obviously this one wont fly but I do have a question. What is a good resource for me to utilize and get a proper estimate of insurance for multifamilies?

http://www.youtube.com/watch?v=1UKRaMt7mas

The thing about this duplex is the setup. The first floor is 1 BR but I was unable to check it out. However the 2nd apartment is a total of 4BRs I am not kidding. It is setup kinda differently. For any of the multifamily investors have you seen anything like this? Right now owner is asking for 100K. Im interested in wholesaling this but what does the BP fam think of this property. The rent on the first level is $800/Mo.

What would be the cost to make this a triplex?

Well he is going to be in Baltimore this week. Im not interested obviously

Well I have another buyer. The good news that they liked it and did their due diligence and is making an offer. Good thing I’ve renegotiated the price down by another 3k to potentially get 3k by closing. Nice. So fingers crossed again and hope this is an actual cash deal this time. Called the seller and the seller is happy and buyer is rennovting a large block of properties and he is vet wholesaler. I would love to pick his brain.

All I am saying is if the outstanding balances cause me problem then ill just go after the rest of the non owner occupied on that block

Well........