All Forum Posts by: Annie Li

@Mark Radford@Matthew Schroeder

Yes, it's 3906 Broadway, one block west of college ave.

@Ryan Sanders Thanks for your prompt response. I am more interested in knowing the particular neighborhood, vacancy rate, rent increase potential and home appreciation potential. ROI or cash on cash ROI on paper is not my primary focus buying in a higher class neighborhood.

@Ryan Sanders Thanks for your prompt response. I am more interested in knowing the particular neighborhood, vacancy rate, rent increase potential and home appreciation potential. ROI or cash on cash ROI on paper is not my primary focus buying in a higher class neighborhood.

Hello Everyone,

I'm under contract with a 1920 year built duplex in south part of Meridian Kessler (between 39th st and 40th st) for $205,000, 4 bed 1 bath on each side.  One side is vacant and is completely renovated, the other side is in good condition and is rented for $900.  My realtor told me the renovated side can be rented for $1300, however, the comps show lower.

I understand this is a higher middle class neighborhood, but since this is my first time buying in this neighborhood and it's my most expensive rental property in Indy so far, I'd appreciate if you can provide some honest opinion whether it's a good investment.

I have another concern: the seller replaced the roof this year, but there is only one-year non-transferable warranty on labor, my realtor's explanation is since the roof was installed by sub contractors of the property management company, that's how they offer warranty.  My inspector said he can only determine to some degree if the roof was installed properly.  

Property tax for last year is lower (around $1900/year for both sides), and seller doesn't have any exemptions, but tax was much higher on previous year (doubled assessed value), so not sure if it will be raised back again.  

Any input is greatly appreciated.

@Jason Bott 

@Ryan Cummings

Thank you both!  I have replied your PMs.  

I'm under contract with a SFH in Carmel, IN and the property is in 100 yr flood zone. I have difficulty finding an agent who can quote through Lloyds of London instead of FEMA. Does anybody know any agent that can help me on this? If I have to pay $1,600-$3,000/year on flood coverage, I will be very sad...

Appreciate any response.

@Ned CareyThank you very much for your reply.  I have decided to hold off investing in Baltimore due to tenant-friendly laws and hassle of lead paint requirements (heard horror stories of landlords being sued because of it).

@Kim Coleman@David Wandel

Thank you very much for your reply.  After talking to another PM, I think I will just get lead-safe certificate now and will do lead-free remediation when the condition of the interior is not as nice as it's now.  I will also proceed with removing ground rent since I plan to hold the property for a long time, it also helps a little bit while selling the property.

Hello BP,

I'm negotiating a sales contract for a property located in 21229 area.  My focus is cash flow so I accept the fact that the neighborhood is below average (but not a war zone area).  The property is close to Edgewood St & Hilton Pkwy (south side of Gwynns Park).  It's 4-bed 2 bath with almost rent ready condition selling for $50K.  The seller doesn't have any info on lead paint; the property has ground rent of $150/year.

My questions are:

1. How much will that roughly cost to  have lead-free certified and how long will that usually take?  I can't seem to get a straight answer from several PM companies I spoke to.

2.  Is it worth to spend $3,100 to have ground rent removed at closing ($2,500 for the sale price, $350 for attorney, $250 for recording).

3. What do you think about this neighborhood overall and whether the listing price is reasonable.  I noticed there were some flips sold in the same block.

This is my first investment property in Baltimore so I'm eager to learn as quick as possible.  I appreciate your help very much!

@Joseph Leonard Thank you for sharing!  I'm glad yours was rented out without much delay.  I will PM you for PM info.