All Forum Posts by: David Hathaway

@Kyle Weinapple always consulting a local lawyer, I would recommend Jacob Rappaport for the Baltimore area. I have my rental properties in a couple LLC's up to a certain equity amount and then start using a new LLC. I also did a video interview with Jacob Rappaport that is about 36 minutes on YouTube that is phenomenal and he talks about the pros and cons of different set ups. it changed the way I structured my rental business and I have watched it several times since doing the interview with him. Hope that helps, Dave

@Andrew Owlett if you're investing locally in Baltimore you can reach out to Mark Owens as he has a bunch of private money lenders. You can also reach out to Trius Lending if you're looking for Hard Money and or DSCR products if you're a buy and hold investor

@Joshua Jacobs I think you maybe referring to a DSCR or Debt Service Coverage Ratio loan if you're looking for a 30 year fixed mortgage. Happy to Recommend the DSCR lender we use to REFI our properties into 30 year fixed mortgages. The current rate is right around 7%. You might also be referring to a conventional loan that is for properties that aren't super distressed and most credit unions will be able to do them for you I would just make sure the property is owned in an LLC to protect you

@Raj Balakrishnan happy to introduce you to a local leasing agent who only does section 8 rentals and has a great reputation and rents most of our section 8 properties. The only thing you should be aware of is there is a section 8 specific inspection prior to move in that usually takes 1 month to complete so best case scenario is usually a section 8 tenant moves in in 2 months often its closer to 3 months if you fail the inspection and have to be reinspected which is common. Often the inspections are very picky and they happen every 12 months so although section 8 tenants normally stay longer then market tenants it sometimes feels like a built in vacancy of 1 month every time they do the annual inspection depending on how much your contractor charges. 

Hope that helps Dave

 Here is the video on youtube that goes into to details on zip codes and discusses the best areas to invest in Baltimore 

@Elizabeth Rose There are lots of BRRRR neighborhoods in Baltimore, 21213 is a good one, although I think it is better for long term rentals. I would also suggest neighborhoods like

Waverly

Old Coucher

New Northwood around Morgan State

Lauraville and Waltherson and that whole area up to Parkville

Dundaulk and Highlandtown

Up and down Broadway St near Hopkins is getting some great comps.

That's a start. I interviewed 2 investors with big portfolios in Baltimore recently and can share that video with you if you would like a more in depth explanation of where to invest and where to stay away from just DM me 

@Nidja Bell we own a 50 unit portfolio in Baltimore. You may want to check out the company Padsplit as an option. It lets you work the mid term rental strategy renting out furnished properties by the room and helps achieve the higher rents your looking. I would always run the numbers as a long term rental in case MTR or STR don't work out though. Happy to pass along a cash flow analyzer we you if that would help! Good luck Dave

@Clinton Jackson welcome and congrats on your first post. We actively invest in Baltimore City in row homes and small multi families. Let me know if there is any way I can help on your real estate investing journey
 

I am a current investor with a 50 unit portfolio in Baltimore, MD and over the past 7 months have started to do content creation showing ordinary people how to grow cash flow and wealth through real estate. Surprisingly enough the majority of our properties were purchased through wholesalers, MLS, and Auction and often using the listing agent to write the offer hoping to get an edge and close the deal. More recently, due to our content creation I have started receiving requests for real estate agent recommendations in Baltimore, MD. I would love to connect with an experienced agent that isn't afraid of working with newer investors, possibly writing some offers for us, and lives relatively close to the City. Thanks in advance, Dave

@Randy Beharry we invest in Baltimore although it is very challenging without the right local team. Cashflow is king in Baltimore and it has the appreciation upside of being close to some super high salary markets. The city is much harder place to invest then Baltimore County. We have done a bunch of transparent videos on our youtube channel showing the numbers you can achieve investing in the City itself but again super important to have a localized team if doing so or else you can easily lose money even know on paper the properties look like they will make 20% returns. Feel free to reach out if you want more info on the Baltimore market or need some contacts to investigate more.