All Forum Posts by: Chris B.

I have a property in Maryland that I'm currently refinancing. I learned (newbie mistake) that the unit is actually in a flood zone a and the lender requires flood insurance. I took action and got the required elevation certificate ($575 later) to provide to my insurance agent. I got the the estimate at $3750 annually. I've received several quotes and they're all within the same price range. 

There's a stream in the back of the property and the back side of the unit is in the flood zone while the front isn't. 

The question I had is: I purchased the property cash and was getting a cash-out refi. With the flood insurance cost, this unit will be neg cash flow unless I increase the equity in the unit which brings it down to less than 5% cash on cash. Is it worth refi-ing and paying the 7k in closing costs or should I just leave the money in the unit and not be required to get flood insurance. 

I appreciate your feedback.

Hi Karreim - Is this still available? Status is Pending on Zillow.

I'm a Maryland based investor looking for a portfolio loan as well as fix/flip loans. Thanks!

@James A.Thanks for the info. I've looked through CL on other markets. Will have to hit CL for these areas as well. I like the street sign idea. Funny because I actually thought about it over the weekend while in Essex and took a photo of a sign. Now I just need to take action.

As far as what I'm into, I'm looking for mostly townhomes and row houses with 2-3 bedrooms under 100k in the Baltimore and Harford counties. I prioritize anything that's built after 1978. I am open to detached SFH as well. Is that enough info?

BTW, do you have any experience with the rowhomes in Essex and Dundalk areas? Are these good rental properties?

Thanks Charles. With my limited exposure to the real estate investing community, I've learned that 'wholesalers' hold contracts with the sellers and transfer this to other investors or buyers. Investor to me is a broader term. But you're right, essentially, we're all investors and it sounds like a matter of personal preference. 

Does anyone know any wholesalers in Baltimore and Harford Counties? Thanks!

Thanks Anthony and Eric. After searching in BP and Google, I found no hits either. I found another firm that can facilitate identifying properties and do the PM. 

Anthony, how's the Mass market?

Are there any turnkey providers in Rhode Island? I'm looking for investment properties SFH or multifamily. Thanks

Checking to see again if anyone has any recommendations.

My target markets are Hargerstown, Fredericksburg and parts of Norther MoCo. Can anyone suggest property management companies and your level of experience with these companies?

Thanks!