All Forum Posts by: Julie Hassett

@Chris D. - Look forward to meeting you there next week at CAZA. I'll look for you and introduce myself. Thanks for the tip on the MHP podcast too!

FOBO! Fear of a better option! Each time I find something I think could work, I feel like there are better deals out there to be had. I also worry about tying up lots of cash, underestimating expenses and not getting the cash flow I anticipated in the end.

@Chris D. - I just checked out the CAZA meeting next week. Looks great. But I couldn't tell if they are free or paid meetings. Do you know? Thanks!

Hi Greg! I just purchased a home in the Beverly Hills neighborhood of Baltimore (21214). In short, it's an amazing hidden gem. This whole area: Lauraville, Hamilton, BH and Arcadia. If you're looking to househack (as I am), there's plenty of opportunity here. Far more for renting out a basement apartment type thing, but also the occasional MFH pops up too. I'm actively looking for additional REI opportunities here as well, so if you want to message me and tell me what you're after, I can keep an eye out for you. An REI friend of mine is shifting his focus from overpriced central Bmore to this area after realizing that the ROI is way higher if you travel a little further NE.

@Greg Parks

Hi @Jamal L. - Question - the water.... does it go in the tenant's name or does the landlord just forward a copy of the bill onto the tenant? Thanks.

 Hi Account Closed - Baltimore is about as FUBAR-ed as you can get in many ways. And I know you've been around the block more than once in this city. So, I'm wondering why the discrepancy between your boots on the ground experience and the latest data on home sales and homebuyer interest. 

The numbers YOY are really strong here vs. the rest of the country. (Says Redfin's Demand Index, anyway)

- Baltimore metro area led the U.S. with rates that jumped more than 20 percent over 2015 figures.

- Demand in the metro area increased 21 percent last month over June 2015 figures, reflected in a 39 percent spike in requests for home tours by potential buyers over the same period. 

- Purchase offers on homes also increased by 19 percent over June 2015 data.

What have you been seeing in real-life that would show otherwise? Thanks Account Closed!

Thank you for chiming in, @Joshua Velte! As a 30-something recent homebuyer, I would much prefer the aesthetic of concrete over granite. "Hipper" if you ask me. I suppose it just depends on your neighborhood, the age of the home and the target market.

Yes, thanks for clarifying. By "flip", I was alluding to the more generic, cookie-cutter look I see everywhere. Gray walls ad infinitum! But you can't argue with what sells.

And I know two buyers who have purchased flips only to find those shortcuts the rehabbers took are costing them dearly down the line. (Watered down paint, lack of a septic line (yep!), etc...)

And thanks for the update on cabinet prices. I'm running some numbers tonight for a kitchen remodel and that's helpful.

@Jamal L. - Thanks for your response. In almost all the 2-4 unit MFHs I've looked at purchasing in Baltimore City recently, the current landlord is paying water. Tenants are paying electric and gas only. I know you can add into the lease that the tenant is responsible for water, but it doesn't seem like that's the norm across the board. Let me know if your experience is different. I'm relatively new to Baltimore, but as a nearly lifelong renter in many parts of the country I've never paid water anywhere I lived. Thanks! 

Thank you for sharing this, @Jamal L.! I read about this just yesterday. This would certainly affect potential cash flow and doesn't seem like a well-thought out plan to me. At least the billing would go from quarterly to monthly, which is easier to budget for. Another reason to start slowly raising rents if you're not already. 

Potable water is a finite resource and is only going to get more expensive going forward. Something all landlords should budget into their expense increases.

@Russell Brazil - When you say $200 for a per cabinet estimate, is that the installed price or materials only? Thanks for that, BTW. It's very helpful. 

Also, granite countertops are starting to scream "flip" to me and (I think) already look a bit dated. Especially since the color and pattern of granite is a very personal style choice.

Are there any other countertops you're seeing used in rehabs that are more style neutral (white/wood), appealing and affordable?

(About to embark on my first flip in Baltimore and gathering all the intel I can.)

Thanks all!

- Julie