All Forum Posts by: Kevin Wade

@Dave Lin. Let’s connect at some

Point when you are available. Maybe you can provide some insight on how best to approach 

Thanks Dave, 

The quote I got was about $5000 for the year. It’s a 4 unit property that will undergo about 2 months renovation. Are you able to provide a quote? I am checking with different brokers to get estimates.

Thanks for your response 

Kevin 

I am new to investing in Baltimore and working on a 203K renovation loan for a 4 unit property in Baltimore city. The initial homewoners insurance quote I have received is insanely expensive. Looking for recommendations for anyone who has found good agents/brokers that have provide me with a competitive quote for this type of property. Thanks in advance.

@Sam Shueh. Thanks Sam, that is good information. I don't think its worth spending extra money and cost into the condo. The market is saturated right now so my best bet is to lower price and try to see if I can at least break even and use funds for a better investment. I agree with you about the beginning of the end of economic growth. Thanks again for your input

@Thomas S.. That is great insight. Thanks Thomas. I have lowered the price to be more competitive.

@Alladin Pettit. Thanks for that information Alladin. That is great to know and it does seem like the area has appreciated. It seems like the issue now is that there are so many condos/properties on the market it’s drivinf prices down... plus the condo fees are now around $950/month. I think I would rather get out of it and invest in something that will actually generate rental income .. like a duplex to quad or single family.

Thanks again and I appreciate your insight.

Kevin

@Jeff Norman. Thanks Joe. That’s part of my plan but thanks for that advice. 

@Henri Meli. Thanks Henri. Those are all great questions and points. The condo is rented, thankfully, although there is  a portion that I have to cover. It is definitely a lesson learned and I'm fully vested in learning and improving my real estate education and experience. I appreciate all your feedback and thanks for responding to my post.

@Elvis Vasquez. Thanks for your advice. I will try your recommendations

Thanks @Jeff Smith. Those are all great points and good advice. The property isn’t making money on the rental but it has appreciated since the purchase. The problem is that it’s been on the market for over a year and I’m trying to decide whether it’s better to just sell and get out or wait longer until it sells and get the appreciation. I know the decision is on me, I’m just curious as to other opinions since I am fairly new to real estate investing.  I haven’t done the evaluation in the multi unit property yet. At this point there is a lot of education that I need before jumping into that and I am reading and getting as much info as I can a text this point, so that incentive the condo sells I am Moreno familiar with what I shouldn’t be looking at.  Thanks for your post Jeff, it wasn’t very informative, supportive and encouraging . This is all new to me so I really appreciate it.