All Forum Posts by: Andy Gross

As with all pets, it's the owner, not the pet. Any dog will destroy any property if the owner is a bad pet owner.

Maryland just got rid of breed specific legislation, so it's up to your insurance company and your ability to judge owners and their dogs. Be careful, though. You don't want to end up in trouble with discriminating for the wrong reasons. Having a pet (absent it being an emotional support animal) is a valid reason to discriminate. 

Federal Hill does not have reserved parking, it has permit parking. You are still going to have a tough time finding parking after 6pm on most days.

Nobody is moving out of Fed Hill, Canton, or Fells because of the riots. The area around North Avenue might have taken a bit of a hit, however. 

One of the problems you find in Baltimore is that as soon as someone is able to extricate themselves from poverty, they pick up and move their families to the suburbs. The only folks left are the yuppies, empty nesters, and hipsters in Canton, Fed Hill, Charles Village, and a handful of pockets here and there. The city will recover. There are citizen-leaders who want change and who can make change in the right ways. The conversations and transition will be difficult, but it's possible.

About 10 years ago, my father was convinced that the wave of reinvestment was going to spread from I83, through Reservoir Hill, all the way to Mondawmin. Shortly thereafter, Target opened up at Mondawmin Mall. Overwhelmingly, the riots have been condemned. Citizen-leaders were out last night in full force telling people to go home. I think this might scare some investors away, but the majority won't be phased. This is a speed bump, and, strangely enough, might have  a positive effect going forward as we begin to have a real conversation about sources of anger in these neighborhoods.

The protests were 95% peaceful, with 5% making the news as violent scofflaws looking to harm people who have done nothing wrong. I have a number of friends who went to the protest as press or photographers and they confirmed this. The BPD handled the situation well; far better than they have in other parts of the country. I'd be more worried about your houses in College Park, MD next time the Terps make it to the tournament.

I am a bit worried about the damage to the city's already crappy reputation. We don't need this.

My advice is to avoid moving to Fed Hill. Houses are small, parking sucks, and the bar scene will spillover into you backyard. You are going to have a tough time finding value in that pet of town and your rent is going to be high. You could house hack in Fed Hill, but you run the risk of being roommates with a bunch of frat boys. That, and you'll be lucky to hit the numbers you speak of. If you move in a couple of years, you'll have a house that will rent easily, but it might not cash flow.

Unless that's something you want. Most people I know live in Fed Hill until they are in their mid twenties and then move somewhere else. Riverside (southeast of Fed Hill) or Locust Point might be attractive options. It's fun neighborhood. 

If you truly want to leverage your house buying powers into investing, look at the area between Penn Station and Johns Hopkins for small multis.

Do not buy sight unseen in Baltimore City. You are better off finding cheap airfare to BWI, hopping on the light rail, renting a zip car for a few hours and exploring. A thousand bucks upfront could save you tens of thousands in the long run, not to mention stress and time. You might even be able to write it off on your taxes if you are traveling specifically to look at  investment properties, but I would talk to your CPA about that first.

I think you will really enjoy Hamden. Lots of great restaurants, cool shops, and the Jones Falls trail is great for biking or running (with a buddy, because it can get somewhat secluded).

You are better off with networking with people who have verifiable track records as HMLs, flippers, landlords, wholesalers, etc. Before I sign up with a mentor, I want to talk to investors who have actually used the mentor's strategies to make money.

Julie,

Check out the area between North Ave and about 27th Street, along Charles/St. Paul/Calvert streets. This area is known as Old Goucher, Barclay, and Charles North, and encompasses a bit of the southern end of Charles Village. The closer you stay to Charles Street, the better, as some areas west of Charles Street can get a bit rough. Several bus lines run through the neighborhood, and there are plans/talks to extend the free Charm City Circulator should run as far north as Charles Village. You could conceivably commute without a car, completely for free. Also, the neighborhood has a Safeway and some other convenient amenities. Getting renters shouldn't be too tough given that you are between MICA, JHU, and UB.

Ping @Matthew Newcomer. He's got a project going on in the neighborhood, and I think he lives there as well.

Take a look at Reservoir Hill. It's in transition, but you've got great architecture and you are really close to MICA. The area has some blight, but hey, it's Baltimore. You've got pocket parks in the area that might be perfect for you, but you walking around after dark may make you a bit uncomfortable.

Going south to Station North, you have some interesting opportunities. I lived there for a few months and there were multiple pocket parks perfect for dogs.
A multi in Patterson Park is going to be above the price range you quoted. Hampden might be an option, and if you are looking for something with a decent yard, you might consider Hamilton/Lauraville. Some of houses are multi-units or have in-law apartments.

Cheers,

Andy

What is a judgment for nonpayment? Wouldn't a nonpayment simply lead to an eviction action?