All Forum Posts by: Dave Perl

Thanks everyone. It's getting showings but no offers at this point. More than one person said it was their back-up if their first choice didn't go through. 

I was considering staging it before lowering the price. Think that will help? Sounds like it might since people are coming to see it I just haven't gotten any offers.

@Tim Youse Thanks for the suggestion on the basement. When I bought the property they actually sold it as a 3 bedroom even though the basement isn't a legal bedroom. I will talk to my agent about that. And unfortunately I've heard the location as the issue a few times but can't do much about that. 

@Jason D. Thanks it's hard to price things in Baltimore city since there's so much variation. My agent thought this price was in line but no offers yet so who knows. 

Alright BP community - I wanted to get any local Baltimore folks opinions on my house that hasn't been selling. I previously had tenants in the house and tried selling it without much success. The tenants made showings difficult and I think the 24 hour notice required to show the place turned some people away before they even saw it. 

I now have the tenants out of there, fixed the place up and got it listed a little over a month ago. I bought this at a bad time (late 2007) so I'm really just trying to get the place sold and will be taking a loss at this point. Any suggestions or thoughts on the price, pictures, etc. would be helpful.

213 N Milton Ave

@Account Closed thanks I agree and think I just need to get the property empty and sell it so I can use the money on something else that does cash flow. 

@Matt B. Thanks sounds like I may need to go all in and get it empty to sell it. 

The numbers - it's listed at $208,900 and I'm getting $1,500/month rent. There's a large tax credit the city gives you if you live in the house but don't get if it's not your primary residence unfortunately.

@Nicole A. Thanks for the advice. It's pretty much break even in terms of cash flow but that's just including PITI and no other expenses. There have been very few expenses since the house was completely gutted and renovated right before I bought it in 2007 so I guess there's a small chance an investor would be interested.. The tenants that are in there have been great so that's a plus.

First time poster but long time reader. I wanted to get advice from folks who have more experience than me on a question I have about selling a rental in Baltimore City (Patterson Park / Canton area). 

A little background on the house. I purchased it in 2007 as a primary residence and rented out the other bedrooms (3BR/2.5BA rowhouse). In 2013 my wife and I moved out of Baltimore to San Diego and kept the house as a rental since the market still wasn't great in the area. Since 2013 we've had the same tenants in there and they have been great. They pay every month and don't cause any issues. 

Since the market came around we decided to list the house just this past April 2017 since Baltimore isn't a place I really want to be invested. Also, the numbers as a rental don't work great. The house had interest but my real estate agent mentioned many times that the house wasn't selling because of the tenants (they are on a month to month lease at this point). Most people looking at the house are going to be living in it rather than investors looking to keep the current tenants in there. So fast forward to now and the house is still on the market with only one low offer after 6 months. My agent has sold other similar houses on the next block and priced similarly and thinks that the only reason it's not selling is because of the tenants. They do require 24 hour notice to show the place and also are a bit difficult with my agent in terms of showings. Also, they didn't want a lock box which I understand, so my agent has to meet all potential buyers and their agents at the house to do showings. 

This leads me to my question. I'm planning to pull it off the market for winter and then in the spring will re-list the house. Do you think I should give the tenants notice and have the house empty when I re-list it? My obvious issue with this is that I'd be losing $1,500/month in rent while not guaranteeing it's going to sell quickly, if at all. Also, we did try to get the tenants to purchase the property but they just aren't interested in buying a place.

Thanks for any advice you have.