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All Forum Posts by: Ken Swearengen

Ken Swearengen has started 17 posts and replied 75 times.

@Justin Hayden I'd say there are a handful in Baltimore. I've passed over the current ones either because they require more work than I'm comfortable with at the moment (I gotta start reading up on rehabbing!), or because the schools/neighborhood isn't so great. But if I didn't have kids I'd be much less worried about the latter. 

If you're looking for a great resource to bounce questions off of, I'd recommend reaching out to @Ola Dantis. He's a Baltimore-area investor, super active in the REI scene and super helpful guy.

@Justin Hayden I'm just starting out like yourself and have been looking at multifamily. Just be aware that the stock tends to be a bit more limited than SFH, so you may have to be patient depending on your housing market.

Post: Where to start investing

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

IRR Research is a good place to check.

https://www.irr.com/research

You can look at the 2019 report either for the country or for a particular city and see where in the market cycle they are. I've been keeping an eye on anything not in the "Hypersupply" and "Recession" parts of the cycle.

Post: Budgeting for House Hack

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

@Tyler Segebarth That sounds decent to me, but I think it will depend on your area. I know @Brandon Turner likes about 12% Cash on Cash, and you're getting about $100 a door which is what I've read you should aim for.

You can also get more specific with your percentages. For example you can look up vacancy rates in your area; I've also looked at older houses where I've added 10% for repairs and maintenance and for capex just to be on the safe side. 

Have you used the BP calculators? You get 5 free reports if you're not a pro member. I'd recommend putting one of those reports together and posting it in the "Deal Analysis" forum and/or your local forum, they're all really helpful there and will make sure you're not wearing blinders when it comes to the analysis.

Post: Budgeting for House Hack

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

When I've been analyzing numbers for my house hack, I always do it as if I'm renting out ALL the units. So I'll add in a management fee, capex, vacancy, etc. That way if I do end up moving out (which is the goal, right?) I know it will have positive cash flow all by itself without my full-time job salary to support it. What do your numbers look like if you don't live in it?

Post: Does BP app have mobile calculators?

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

@Mindy Jensen Hi Mindy -- has this feature been released yet? I'm trying to find the calculators on the app and can't seem to find them. Thanks!

Post: Why Do You Young-ish Entrepreneurs/RE Investors Fail?

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

@Steve Vaughan I think you hit the nail on the head, at least for me. I didn't have a strong enough "WHY" until my kids were born and I realized how much I love volunteering as a firefighter. I don't think my "why" was strong enough in my 20's to give me the resolve and persistence that I have now.

@Lauren Hogan I'd love to be able to save searches in the Real Estate Listings section. It'd also be nice to be able to do searches for multiple property types. 

Post: Rental property in Maryland

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

@Anthony Triano I grew up in Frederick and my mom still lives there -- you probably won't have any trouble finding tenants there, especially if you stick below Thurmont (as Benjamin said, it's more rural and further away from the population centers). You'll pay a premium though, COL is a little more expensive than even Baltimore. 

Post: Please Help a Baltimore Investor Make Sense of This

Ken SwearengenPosted
  • Baltimore, MD
  • Posts 75
  • Votes 38

@Michael Kissi Have you tried using the rental calculator to see what your returns would be (I think you get 5 free calculations as a non-pro member)? It's a good way to help divorce yourself from the emotion. I'm not sure what your situation is, but I'd personally look into buying a home where the mortgage would be paid for from your rental property if that's at all possible.