All Forum Posts by: Evan Roberts

Baltimore city permits and inspections aren’t bad If you don’t cut corners. Just play by the rules and you’ll be in good shape. You’ve come too far now!

@Vee Vu shoot me a message and we can connect about the lenders we use and our experiences thus far

First mistake is looking to MLS for deals! As tight of a market as we are in, I just don't see anyone making good spreads on market listed properties. Folks can cash flow with them but only if they leave in their own capital (which many can't afford to do for multiple properties). Keep looking and start hammering direct marketing

if you don’t have a job then you’ll likely not be able to get past a seasoning period on the loan. Some lenders would let you refi if your global cash flow can support the debt but that requires income from multiple sources (w2 income, other rentals, etc). Also, given your out of state you’ll likely struggle to buy houses at a significant discount and force the value you need to ensure a cash out refi and also depends where you buy as there are many lenders who won’t touch certain parts of the city. 

try Andersen home inspection. You should be able to dig them up on google. Doug Gillette is great.

Baltimore city in more desirable areas like Fells are very hard to make work on a cash flow basis, mainly because of property taxes. The city has historically used the nice areas as their piggy bank so when they need cash they start looking to raise tax assessments, etc. Most properties worth owning will have a tax assessment that will destroy your cash flow when coupled with a 200k purchase price. 

@Renee Karl, are you looking for a licensed inspector or a bird dog to scope out this property/other properties for you and report their findings?

Where is most of your work? Alexandria I presume? If you do anything in the MD area I'd be happy to speak with you.

We have a lot of houses in Baltimore city with those. As everyone else has stated, it’s fairly common on these old houses. I don’t get concerned unless I see a lot of repoint Work has been done around the areas or the bulge is quite noticeable.

You shouldn’t be asking how to buy those but rather why? That sounds like an awful deal to be honest