All Forum Posts by: Account Closed

I agree with Jamal. I work with a real estate investment company based in Baltimore, and there is a significant amount of activity in the area. A lot of the properties there are undergoing rehab, plus there is a lot of economic development underway as well. Something like $700 million is being invested by the state, not including employers like Under Armour building their facility there.

As far as placing tenants, typically about 2 weeks is what we see on average for placement. Contractors will go anywhere really, especially if you have a good working relationship with them.

Definitely looking to get this property moved, so make an offer. I am also willing to pay $1,000 for a referral that closes as well.

I have a number of single-family homes available for sale in Baltimore MD market. Houses near major points of interest: Parks, zoo, golf course, stadiums/arena. Will rehab, place tenants, and manage property. Typical rental income $1,500/mo. Comps sell for $120K or more for townhouse style homes.

2713 Riggs Ave, Baltimore, MD 21216

3br/2ba

Income Analysis:

Listing Price: $75,500

Total monthly projected rental income: $1,500

Estimate Annual Taxes: $300

Estimated Annual Insurance: $840

Estimated Annual Maintenance Costs: $1,500

** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.

Annual Property Management: $1,800

**The fee is 10% of the monthly rent.

Annual Net Rental Income: $18,000

Annual Cumulative Hard Costs: $4,440

Adjusted Gross Annual Income: $13,560

5 Year Return: $67,800

10 Year Return: $135,600

Turnkey fully rehabbed property with tenant already placed paying $1,500/mo rent. Property features new kitchen, bathroom, hardwood flooring on first floor, and carpeting on second floor. 

Projected Income Analysis:

Listing Price: $120,000

Total monthly projected rental income: $1,500

Estimate Annual Taxes: 495.60

Estimated Annual Insurance: $840.00

Estimated Annual Maintenance Costs: $1,500

** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.

Annual Property Management: $1,800

**The fee is 10% of the monthly rent.

Annual Net Rental Income: $18,000

Annual Cumulative Hard Costs: $2,835.60

Adjusted Gross Annual Income: $15,164.40

5 Year Return: $75,822

10 Year Return: $151,644

Selling 2 story single family home. Property currently distressed, but will be rehabbed on closing for price listed. Average turnkey turn around time 4-6 weeks. Tenant placement and property management available. Near major points of interest: two parks, a mall, zoo, golf course, and just over 3 miles away from both the Baltimore Orioles park and Baltimore Ravens stadium.

Projected Income Analysis:

Listing Price: $75,500

Total monthly projected rental income: $1,500

Estimate Annual Taxes: $300

Estimated Annual Insurance: $840

Estimated Annual Maintenance Costs: $1,500

** This estimate is based on any potential repairs the property may need over the course of a year. In our experience, this number is typically lower, but we always estimate on the high side.

Annual Property Management: $1,800

**The fee is 10% of the monthly rent.

Annual Net Rental Income: $18,000

Annual Cumulative Hard Costs (Property management, Taxes, Maint., Insurance): $4,440

Adjusted Gross Annual Income: $13,560

5 Year Return: $67,800

10 Year Return: $135,600

Yeah, NY can be pretty screwy sometimes. The closest thing I can find is regarding Licensure classes, but this specifically refers to doing business as a broker, not holding property within an LLC to rent, or owning an investment company.

• Class 49, limited liability company or limited liability partnership broker, is for the member or manager of a brokerage operating under one of these types of organizations. For a new limited liability company, a copy of the articles of organization or a filing receipt must be filed with the application.

Hello all,

I'm currently in process to become a RE agent in NY as part of my overall plan to become an investor. I started the 75 hour course, and while studying I came across a potential hitch in my plans, specifically this clause in my text:

"It should be noted that salespersons and associate brokers may never hold

• officer positions (or have officer titles in a corporation) or
• positions as a general partner in either a general partnership or limited partnership"

I spoke to one of my family members who is an agent, and unfortunately, he couldn't clear that up for me, as he is not an investor. Are there any NY agents who are also investors? Can you be a member or owner of an LLC without running afoul of NYS? If not, do you have any idea why there is this prohibition?

From listening to a number of BP podcasts, it is obvious that smart legal representation is a must. When starting out, what would you say are the essentials needed for legal advice? Real estate attorney, tax/estate planning attorney are the ones that immediately come to mind, but are there any others worth looking into and why?

That's actually a great idea! Does a Master Lease have the potential to activate a due on sale clause if the properties aren't held free and clear? Would you pursue traditional or private financing after? I know I know, not legal advice, consult the lawyers, yadda yadda yadda, just looking for personal opinions.

Hey all. Long time lurker, first time poster. While at a BBQ at my brother-in-law's apartment this weekend, we were discussing the building he lives in. The owner is a former resident of our town now living in California with some health issues and is looking to get out of the building. My brother-in-law is the building's maintenance guy as he is a GC, so he knows what work is needed. The other is a fourplex owned by a guy looking to retire. Another landlord looked at it and said there is some potential there with some rehab.

So, obviously, I'm looking at both right now, but I would love input. 

My background:

-I have not yet formed an LLC. I want to form an LLC structure per BP podcast 109. I have not yet because I am getting my RE license to become an agent. I have spent so much time focusing on that I figured the LLC would come later.

-This would be a first property for me as an investor. I have a house I purchased a year ago with built in equity because we purchased below market. But that was pre-BP, otherwise we would have house hacked; regardless, this is pretty much the only skin I could have in the game at this point. I am also the father of 3 with #4 on the way, so buying one and moving in is less than ideal.

-My initial business plan was to fix & flip to build capital for multis/commercial RE, but I know for fourplexes the financing can be similar to single families.

So, I'm interested in what you would do? Ideally, I'd love to snag both, but I would have to run the numbers, which admittedly I still need to do, but I figured I would get some input on how to approach this. How would you finance? LLC now or later? Evict the brother-in-law so I don't rent to family?😂