All Forum Posts by: Jayme Caldwell

I don't see what you're describing as a mistake or having jumped too soon. I'd look at it like you're house hacking in a notoriously expensive market and your monthly rent is essentially the $1000 -$1100/month that you're coming out of pocket. I'd venture a guess you'd paying far more to rent a room or a house in the same neighborhood so not only are you getting super cheap "rent", you also have roommates who are paying down a significant portion of your mortgage. That's a win-win. There's a lot of idealism out there still and I think it clouds the realities of what investors are dealing with today. Sometimes real estate gurus and podcast guests talk about how much they're cash flowing on properties they bought 5-10 years ago when everything about the market was dramatically different but because they don't necessarily disclose that, it leaves the impression that you should be getting the same kinds of deals and cash flow today and usually not possible. So don't beat yourself up. It was a smart move. At some point you can probably purchase your next primary residence and do it all over again by fully renting out the DC and Baltimore properties as well as house hacking the next one if that's right for you. You're doing great!

Thank you for your response and feedback - it’s hard to know how to think about things, especially while I am trying to learn and figure things out. I get growingly concerned when I hear about the tedious research that is done by investors to make sure it’s a good deal - all research I did not do in making this purchase. For example, I had no idea utilities in Baltimore City would be so high. But if I think about it has paying “rent,” that helps to reframe it. I really appreciate your time and thoughts.

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Baltimore, Maryland

Quote from @Russell Brazil:

Quote from @Jayme Caldwell:

Hi, my name is Jayme and have two properties. My first property I purchased in DC in 2017. I have essentially been house hacking - renting out my basement and living with a roommate until Dec 2024. I have been considering another real estate investment property for several years and finally pulled the trigger and purchased a new home in Baltimore MD with the eventual intent to make into a MTR. I moved to Baltimore and am renting out my DC property netting maybe $300 per month. I could probably be making more but my basement tenants are great and essentially property managing for me while I am living in Baltimore. I rarely have to make a trip to DC for the house. My property in Baltimore, however, is significantly more expensive with a very high interest rate (335k, 6.8%). I bought bc it was a good deal in a great area - close to downtown, walkable with several restaurants and parks within blocks, Johns Hopkins is 3 blocks away for traveling medical professionals as well as students, plus there are several universities within 20 minutes of the home. I bought it as a primary - 3 bedroom two bath. I am living there with my roommate and renting out the top floor. I am coming out of pocket $1000-$1100 per month for this property. I am a little stressed over this. When I move back to DC, I plan to rent room by room, and if I can get the prices I am hoping for, I will break even. I hear on the podcast that most people have a hard time making the jump but I might have jumped too soon? have a feeling this was a mistake. I need to figure out how to think through this. Any help, advice, feedback would be grateful appreciated.

What neighborhood is it in?

It’s in Butcher’s Hill

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Baltimore, Maryland

It’s in Butcher’s Hill

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Baltimore, Maryland

2 Votes

Baltimore, Maryland

All Forum Posts by: Jayme Caldwell

Jayme Caldwell has started 1 posts and replied 4 times.

Post: Jumped too quick?

Post: Jumped too quick?

Post: Jumped too quick?

Post: Jumped too quick?