All Forum Posts by: Jeffrey Goers

Any tools folks use to analyze the going rents in an area?  I know there is rentometer.com - anything else people are using?  I work in Baltimore City.

thanks jeff

@Rich Baer and @Travis Lauchman thanks for the feedback.  You have me wondering now.  These units would be in the 85K range fully finished, inspected, and with a section 8 lease in place in the 1300 to 1400 range.  It certainly works for positive cash flow at that price, but if I could only sell the place retail for 60K then I have lost the equity I put into the deal.

jeff

 huh - can you do a full gut rehab with new everything and lead free for 60K?

 Sure I have been working with Pete Pecovic - Baltimore Turn Key Properties.  The system wont let me put in his email or phone!

cheers jeff

Hi @Ned Carey thanks for the info.   @Account Closed thanks also for the info - and I would certainly be interested in hearing about who to avoid in Baltimore city.  I assume this forum has a way to private message - I will try and figure it out an send you a note.

jeff

Main reason I invest in Baltimore is the rental income yield as a percentage of the property cost is high relative to other areas like Northern VA. I deal with all the negatives cited above.

jeff

@Lisa S. - What I mean is that these 2 props are being rehabbed by a builder who will then sell them to investors as turnkey rentals.  I have bought all my rentals in Baltimore this way so far since I work full time in IT and dont have the time to do the rehabs myself.

jeff

Hi folks I have the opportunity to pick up a couple turnkey rehabs - two 3BR units in a building side by side.  They are near the intersection of Denison Street and Gwynns Falls Pkwy.  Any opinions on that area for both rental and resale appeal?  I am a buy and hold rental investor in Baltimore City but I dont know the local neighborhoods that well as I live out of town.  I rent my units section 8 - but I like to buy in areas that have a reasonable percentage of owner-occupiers and that will have resale appeal some day to owner-occupiers as well.

thanks jeff

Thanks Ned I have all the other items. I was at a REIA meeting tonight and someone said the minimum height is 7' 1" - does that sound right?

I met you last friday at the investor lunch btw - cheers jeff

Hi does anyone know the requirements in Baltimore City for ceiling height when converting a basement to a bedroom for it to be a legal or legit BR?  Also is it different for a section 8 vs market tenant?

thanks jeff