All Forum Posts by: Eric G.

Welcome, 

@Suzanne A.

     I'm also an investor living (and investing) within Baltimore City. I currently have a multi-family and plan on expanding to other multi-family properties in the coming months. There are a lot of really great investors on this forum that can provide great advice. Best of luck to you.

- Eric G

        I think it really depends on what you're trying to spend, what market you're exploring (section 8 vs non-section 8), etc.... I target the east side of town for a multitude of reasons that I would be willing to share with you if you want to send me a PM. I also love Washington Hill (just west of upper fells point) because theres a ton of rehab being done to that neighborhood and I do believe the city will eventually tear down the housing project a few blocks south which is the hub of a lot of neighborhood crime. Its close proximity to Hopkins still makes it an attractive place to live. I have friends who only buy shells, put 40K into them, and rent them as section 8 properties on the eastside, they make a killing. I have friends who only buy SFHs in the Northeast region and rent non-section 8, they also make a killing. I think you have to evaluate your skills, what you're willing to deal with... etc. I know that in the grand scheme of things it doesn't seem like that would determine what neighborhood to target, but I believe it does. 

-Eric

 I am currently in Baltimore working for the City Police. I am able to do very well here so I've been re-investing everything I make in overtime. I currently have a two unit property that i'm house hacking and its working well for me. I'm going to build a small portfolio here but my ultimate goal is to get back to Bergen County. My parents, sister, neice.. etc are still in the are still in Bergen County so I'm always exploring the option to invest there after I have a foundation here.

-Eric 

Welcome @GC Vaghasia  !

Biggerpockets has been a huge influence on the decisions I've made as a new investor. I grew up in Westwood, not too far from you. In fact, I used to work at Ronnies bagels in Norwood before it was sold. I will send you a colleague request and maybe I can attend a meet up with you when I return to the area as that is my long-term goal.

Best of luck,

Eric

 Chris, thanks for the response. As of right now, I believe they are agreeing to give her 50% off the month for rent. Only her bedroom is habitable right now. They are stating that she should file a claim with her renter's insurance to recoup 50% of the monthly rent. It's unclear if they are trying to blame her for the pipe right now.

If they did modify the rent for the month, who should incur that cost. The landlords, or Annas renter insurance?

Disclaimer: I understand there are quite a few threads on "bursting pipe liability" on this site. However, they all seem to have a few different scenarios or circumstances that are situationally unique. Lastly, a friend asked me to post on here because I've told her what valuable knowledge and insight exists on this site, her name is Anna. 

Earlier this month, a pipe burst while Anna was at work. The result of the pipe bursting was due to how poorly insulated the house is. (As stated by the responding plumber) The thermostat was kept at 70 degrees as it always is when Anna leaves. They have a smart thermostat and are able to prove same. It is likely going to be determined that the tenant is not at fault for this incident. The owners of the property are trying to get Anna to file a claim with her renter's insurance for this incident. The properties basement and entire kitchen area are currently inhabitable due to the water damage, she cannot access same. 

My question is this, 

1. what EXACTLY does renters insurance cover and when in this situation should a claim be filed with Annas policy? 
2. If a landlord is offering to give a discount on the monthly rent due to the property being partially uninhabitable for 3 weeks, should that be a renters insurance claim to annas policy, or theirs?

Lastly, this property is just outside of Baltimore MD. 

-Eric

        This is the exactly the point I was trying to illustrate in my first post on this thread, lol. However, I think now that she figured out its a conviction for possession over a pound, that's an easy "no-go". I'm in Law Enforcement and no one who gets caught with over a pound of marijuana is using it for personal use, no one. I think you should move on to another application Liz.

Welcome @Aaron Phillips

I'm 100% with @Steve McGovern on this one. First of all, you have an established business. Life is about branding and selling yourself regardless of your "field". It's clear you have found the best website in terms of Real Estate, why not start to brand your business as a company that caters to landlords? If you can build a business that generates $2,000 in profit a month, there's no reason you can't double, triple, quadruple that overtime with the proper drive and tactics. According to my high school test scores, I was never as "intelligent" as my peers. However, I always worked harder. I still stand by the fact I will out-work anyone. I think people fail to reason that hard work doesn't ALWAYS out perform Intelligence, but it CAN, and often DOES. Everything that goes on around you is a direct result of YOU, no one else. I only say these things because I'm a high school drop out who was told I would fail in life. Now, I'm an honorably discharged veteran (Army).  I make close to six figures a year at my current job. I have a two unit property in a prominent area and I refuse to stop there. You can always "out work" your circumstance(s). I would be glad to discuss how we can brainstorm taking your business to the next level and improve your current situation if you want to send me a pm. There is honestly nothing that makes me more happy than seeing people succeed outside of the way society dictates.

Best of luck,

Eric

Hi @Ken Seveur

        It kind of concerns me that this property is only "Lead Safe" and not "Lead Free" after what they're describing as a "full gut job". Honestly, the "full gut" projects I've worked on were mainly to get rid of any potential lead (among other things) from the property. In my opinion, this home would not be valued at 90K despite what you did to it. In fact, I don't think anything has sold over 77K in the last year and it's a bad neighborhood. Let me know how it ends up going if you pursue the property I would love to see the outcome.

Best of luck,

Eric

I'm definitely with @Logan Allec on this one.

     In my short experience as a land lord, I've noticed that certain properties & neighborhoods have their own powerful ways of attracting leads. For example, there is a certain area of my city called, "Canton". Canton is one of the more expensive areas, down near the water that attracts young professionals and small families. I have lived here for quite some time and most of the homes here are rented "by bedroom" (Possibly one lease but its usually a roommate cohabited venture). When I posted a room for rent in Canton, I posted on Craigslist, Zillow, and Facebook. The most hits I received were easily from Facebook. There is a group called "Canton Rentals and Roommates" where people answer your adds within minutes. 100% the best option for that neighborhood and surrounding area.

         When I listed my two unit property (in a different neighborhood more catered towards a single family) on Zillow, Hotpads, Trulia, Craigslist.... I received the most feedback from Zillow. However, I still received a lot of feedback from Facebook. Congratulations on getting started.

Best of luck,

Eric