All Forum Posts by: Dagem Desta

@Waleep Alvi @Tammy Mason thank you both. I'll look into mini-splits

Hi All,

I’ll be closing soon on a 2-unit property. The two units are separated. The second unit is two floors. The living room of the second unit is an extension of the detached garage and the bedroom for that unit is on top of the garage.

The second-floor bedroom has an HVAC system whereas the living room only has a baseboard heater and no air ducts. I don’t know a lot about HVAC, so I was hoping to get some ideas about what to do to get a cooling and heating system for the living room on the first floor.

Thanks

Hi All,

I’ll be closing soon on a 2-unit property. The two units are separated. Second unit is two floors. Living room of the second unit is an extension of the detached garage and the bedroom for that unit is on top of the garage.

The second floor bedroom has HVAC system whereas the living room only has a baseboard heater and no air ducts. I don’t know a lot about hvac, so I was hoping to get some ideas about what to do to get a cooling and heating system for the living room on the first floor.

Thanks

@Sam Lewis I was given a rough estimate of $150k by a contractor for a high end renovation

Hi all,

I was hoping to get some full renovation estimates for a Baltimore rowhome. The property is 5bd /4.5 bath about 2500sqft.

Demo is already complete and framing is 80% done. It will also have a rear and rooftop deck. Considering it needs everything (new roof, new utilities, etc ..). What would be the price for a mid-range or a high-end renovation to complete this property.

Thanks

I’m also currently looking to buy house in Baltimore city but in my case I’ll be house hacking. 

@Tim Jacob what areas do you recommend besides the one you already mentioned. I’m looking for a B/C neighborhood with at least 3 bds 2 full baths. In the 150k-250k range? I’m more than willing to do some renovations if needed.

@Paul Welden I appreciate the advice, I'll look into the website you recommended and start searching for a contractor. 

@Zach Westerfield thanks for the response. Here are my answers to your question.

1. I do have a decent credit

2. If I get a house that qualifies for FHA and needs cosmetic repairs, I'm able to do the work. But if I get a house that needs a lot of work, I'll be getting a 203k approved contractor.

3. I don't know any contractors but I should be able to get recommendations from my lender and my HUD consultant

Hello BP Baltimore Community, my name is Dagem. I'm 23 yrs old and a recent college grad working full-time. I was always interested in the topic of real estate investing but I never really took any action. Recently, I've been educating myself by reading books, listening to podcasts/audiobooks, etc.. and I'm ready to get started. I'm currently renting in Baltimore City Area, and I'm very interested in house hacking once my lease ends in Jan 2021. 

I'm planning on purchasing a single-family home with at least 3 bedrooms and rent out the other rooms to cover my mortgage expenses, and maybe get a bit of cash flow. I've taken the first step of talking to a lender and I was pre-approved for $220K with 3.5% down, FHA Loan. I've also talked to my lender and was told I can also do an FHA 203k renovation loan. And I'm leaning towards getting a 203k renovation loan because I have time for all the paperwork and work that needs to be done.

I would love to hear your opinion on 

- whether I should do an FHA or Fha 203k

- which neighborhoods I should be looking at?

would also appreciate some recommendation for a realtor that could help me find properties.

Thank You