All Forum Posts by: LaToya Martin

@Stephen Predmore great work! I have 1 in Baltimore and am closing on my 2nd although both had recently been renovated. I agree that it is a great cash flow city.

Rehabs like this still intimidate me! I eventually want to get more comfortable with it in order to open more opportunities. What's the ARV on this property?

@Precious Thompson what type of payment plan is she on? If she’s on the standard 10-year repayment then she can see if she qualifies for an income based repayment plan. This will lower her monthly obligation in order to allow her to qualify but she can still choose to pay her normal amount if she wants to pay it off faster.

@Sharad Peterson

Hey Sharad! I live in NoVa but am investing in Baltimore. Would love to connect!

@Tim Youse thank you for the clarification! When I just searched, there were no violations and only citations were from 2018 for y’all weeds/grass. The property was rehabbed prior to me purchasing it. I have gotten a lead inspection done and it seems the house inspection I got would be for the rental license so it sounds like I don’t need a U&O

Hey all, I just closed on my first rental property in Baltimore City. I obtained an inspection during the closing process. My inspector completed a “Baltimore City Rental License Inspection Form.”

Now I am trying to obtain a Use & Occupancy Permit. I paid the fee online and it indicated that I need to schedule my inspection with the city AFTER the fee was paid. Is this supposed to be a completely different inspection than the one my inspector did? If so, what is the “Baltimore City Rental License Inspection Form” used for? Thanks in advance for helping me decipher Baltimore’s requirement for landlords.

@Jan Pauley be sure to check to see if the lease addresses it. My lease has a section that allows the surviving tenant to terminate the lease if they wish upon the death of the other tenant

@Zachary Schimenz thanks for sharing your numbers! I will likely invest with Memphis Invest at some point in the future. I've heard nothing but great things about their customer service and have had a good experience in my initial discussions with them. My only issue with the numbers is that even though their properties are fully renovated, at some point CapEx will have to be taken into account.

I look forward to following along with your updates to see how this property does in the future!

@Keenan Rusk Thanks for the detailed post! Any updates on how the rehab, appraisal, and marketing for rental process went?

My name is LaToya Martin. I have been interested in real estate investing for a while and have done a good amount of research on it. I have recently graduated as a pharmacist and would like to use this career to save to buy houses in the DMV area and rent them out. I learned about BiggerPockets from another pharmacist who has successfully invested in real estate and recommended this site. I would love learn as much information as I can while I am still saving for my first investment!