All Forum Posts by: Jeffrey H.

Theres a dump in baltimore city for residents and non residents, its called baltimore city. 

Rationale is a loose term in baltimore city, which is nowhere approaching rational. They want less multi family housing and will eliminate it if they can eliminate it...the thinking behind it?? Something ridiculous im sure. You may want to consider renewing that license yesterday, and get a receipt. 

My experience is that in an R2 they are going to tell u to forget it, unless you have a current multi license in place

it seems to me that you trying to build a castle on a weak foundation. Ill explain. 

First, Anyone with a 4 bedroom voucher will more than likely not be looking for an apartment. 3 bedroom either. Lots of competition, all with townhomes or detached houses. You want someone with a voucher that size in an apartment it had better be ridiculously nice. Even then it may not happen. You obviously dont know that but are basing your purchase off of section 8 happening. P.s. Section 8 tenants/payments/inspections are all problematic,it isnt the solution to all problems you might believe it to be. Voucher payments start with bed count, and then are based off comps and features. Depends on area of city also. Baths are what is legally required to house someone based off building code. You should probably call baltimore housing about your questions, as section 8 bases its requirements off what is legal. Your concern should be that you will never rent a 4 bed apartment with no living room to a 4 bed voucher. Or 3 bed voucher, maybe even a 2 bed voucher. 

Anybodies written estimate wouldnt provide real pertinent information to you. You have no context of the job, contractor, etc. Make phone calls to contractors, talk to others, go watch a job, hang out at home depot, learn material costs. do the legwork. 

I saw abc capitals website relative to baltimore. The available houses are all relatively similar in neighborhood (lower end) though some are more desirable than others relative to size and rentability. The biggest considertion is what the inside is. Any of those houses 80-100 should be relatively nice. If so, they will rent. Their definition of "nice" is the difference between a good deal and a bad deal. 

@Sherman Ragland 

Sherman! Sherman! Sherman!...

3 to a 4 easy or hard? Thats relative, but what is true is tht you will have to endure a process. Call baltimore zoning to find out what that process is than decide yourself if its worth your time?

Cap rate? cap rate i find to be useless in that it only compares one property to another, instead of to what is important ( does this make profit? Is its profit going to continue? Does the profit satisfy what i want for the mo ney i have spent?) cap rate might be a tool to use for the last decision, but one of many. Concentrate on what is important. Aka is it rentable? Are the current tenants worth dealing woth? The houses condition and the longterm sustainability of it?..your zoning question? 

Your third question doesnt actually have a question. Is it a good idea to improve a property on a long term hold? Always. How much you should spend, what you should do, and what you will get as a result are different questions  specific to each place

I own a city portfolio, i used to get guys off craigslist, home depot, people who knew other people that ive dealt with, etc. After some time, got tired of being hosed by people by either paying too much and/or getting too little. I do the majority of stuff myself now, though i give the grunt work to others. Today i went to a water in basement and no heat call at a place of mine, ended up replacing the water heater myself and buying the part the furnace needs which ill install early next week. Those toghether would cost anyone 1000-1500 easy. I paid 450 (materials) 

You have zero liability, though anybody can be sued, however, any attorney suing wouldnt waste their time suing you. You didnt own the house when they resided there.