All Forum Posts by: Jeffrey Goers

Sure that is a valid strategy to get started in real estate investing. I used funds from a HELOC on my principal residence to make down payments on some rental properties. It was higher risk since I was essentially 100% leveraged, but I have since paid the HELOC balance down.

jeff

Thanks @Russell Brazil - so if say a 4 unit in my same area sold for 400K or 100K per door, then my building with 5 doors is potentially worth 500K - that simple?

Also any thoughts on that area of St Paul St?

thanks jeff

Hi I am looking at a 5 unit on the 2400 block of St Paul St. It has an office on the first floor, and 4 small apts on the 2nd and 3rd floors. I am looking at this as a long term holding that will cash flow initially while also providing equity growth through NOI increases in the future. I would appreciate other's thoughts on this area as a long term play, as well as confirmation of the following info I have gathered:

- The building's value should be based on a going cap rate for the area of about 8.5

- The area should improve in the coming years, similar to the blocks north and south of it

Best regards,

jeff

Thanks @Account Closed for the info.  I am pretty slammed this week at work and will be traveling this weekend, - so I will try and give you a call next week.

jeff

I posted this in the general forum but thought afterwards I should have put it here:

I'm looking at picking up a couple rowhouse section 8 rentals in the Belair-Edison area - they are already fully rehabbed and leased. One is on the 4200 block of Nicholas Ave and the other on the 3000 block of Kenyon ave. Each is near the intersections of those streets and Belair Rd. I'm interested in what other investors think of this area for buy and hold - hopefully long term - rentals, and what your experience has been. The corner of Nicholas and Belair has a bar as well as a 7-11 so it might be a hangout - that could be a negative.

thanks jeff

I use section 8 for several rentals in Baltimore. The continual inspections are costly as the inspectors always find things to fail you for. But the consistent payments on the 1st of the month are great. Jeff

I'm looking at picking up a couple rowhouse section 8 rentals in the Belair-Edison area - they are already fully rehabbed and leased.  One is on the 4200 block of Nicholas Ave and the other on the 3000 block of Kenyon ave.  Each is near the intersections of those streets and Belair Rd.  I'm interested in what other investors think of this area for buy and hold - hopefully long term - rentals, and what your experience has been.  The corner of Nicholas and Belair has a bar as well as a 7-11 so it might be a hangout - that could be a negative.

thanks jeff

Thanks for all the feedback.  I ended up passing on these 2 properties.  After looking at the area a 2nd time I was not comfortable with the number of boardups in the area.  Also there were several huge trees right alongside the property (leaning towards it) that looked like a huge future expense if one of them falls.

jeff

I have gotten financing for Baltimore rowhouses that have boardups nearby - the stipulation I got from the lenders was there cant be an adjacent boardup, but further away on the same block was ok.  Same with my insurance carrier (Erie).

jeff

@David Alvarado thanks for the info.  @Richard Miller there is a ton of investor rehabs going on in Baltimore to both flip and hold to rent, and has been for the last several years.  You can take either path successfully in Baltimore.

jeff