All Forum Posts by: Lisa S.

Yeah @Joe Norman - I think that's right. The economics should still work as a regular rental. However, I also think that there is a chance right now for interested landlords to have a say and let the City Council know that they aren't representing us well. 

I'm guessing some MD/Baltimore investors saw the Baltimore Sun piece about the City Council seeking to regulate Airbnb rentals for investors. Note that this would in theory not directly affect house hackers, but they would seek to impose a hotel tax on everyone. They list 1,200 Baltimore Airbnb hosts, and the City Council president, Jack Young, dismissively says something like "oh they're earning enough money." The article also quotes a Baltimore investor, Michael Sung, who lives in Seattle. He is quoted as having 75 investors who plan to lobby the City Council. I reached out to him and got this website link, where you can sign up if you are a Baltimore Airbnb host, if you're interested in being part of any effort to push back on the City Council:

https://www.sharingbaltimore.com/

Baltimore Sun article

I'm a landlord in the city, and I also own a home in the city that I live in and periodically rent out the basement on Airbnb. I've been an Airbnb host and guest in multiple cities, and while I think some reasonable regulation is good, I don't think slapping a hotel tax on everyone is the right solution, and if you follow the money, it goes straight to the hotel industry. 

Agreed with the others that $200k is not enough for a SFH in Fed Hill/Camden etc. However, you could get pretty close up north in Hampden/Medfield, which are very nice places to live. If you were willing to take out a small loan, you could probably cover it via Airbnb. Anecdotal experience in this neighborhood shows that there are plenty of people who want to stay here on Airbnb - students, nurses, etc.

What neighborhood were you looking to buy in? Wondering where you are seeing $85k decent condition houses in reasonable neighborhoods. 

Alright - I put in an offer in Medfield, and I am financing with a conventional construction loan. It needs to be renovated but is in good shape generally and already has central A/C. Now the classic question - does anyone have referrals for a reliable, reasonable GC? They must be licensed (of course) in order to work with the lender. I have a couple of leads but thought I'd ask here as well. I know that there are always problems with renovations/rehabs, but hoping someone will have good connections here. 

I like PropertyWize as a PM - they have been good to work with so far. 

I recommend getting on a waiting list with http://www.propertywize.com/ - they are my property manager and do a lot of vetting of tenants.

Thanks all - Baltimore is such a strange place. Everyone says that it's different from block-to-block, but you really don't know what that means until you spend a A LOT of time here. You quite literally have to walk every street. I do really enjoy this Remington-Hampden-Medfield area, and there is actually a lot of new stuff coming to Medfield as well. Case in point: http://www.baltimoresun.com/entertainment/music/mi...

I guess I'm curious if you had seen the property at this point, or if your contractor was able to visit the property to give you that estimate? I assume he must have seen it in person to see the old pool and the roof that needed work. 

@Ned Carey I did mention Remington in the last paragraph - that's where I live now, and I find the housing stock to be not so great. The row houses here are teeny-tiny. 

I'm interested in Station North because of the investment going in - lots of new developments in the area. Can't really figure out if it's a 5 year play or a 10-15 year play.