All Forum Posts by: M Marie M.

@Derrek Lawson welcome to BP. You mentioned three challenges, two of them will take some time.

I'm the financial manager in my marriage so I will speak to that challenge. You'll have to negotiate the amount of family funds you can use AND sell her on the idea. Even better get her involved so that your spouse handles the financial part of this if that makes her feel more comfortable. My own spouse is nominally involved, but eager to assist. Figure out what type of investment might be okay with your spouse.

The other thing, the down payment. It may take some time to build up reserves. Yes, you could probably find something with no money down, but reserves are very helpful when *stuff* happens. 

Just to pick up what @Chris Seveney mentioned, a fixer upper or a house/condo that needs updating would be a good starting point. There you can experience dealing with contractors, handymen, and figuring out what you can and won't do. It also helps to go through the experience of the buying process, it can be bewildering to some.

Well property tax is easy.  Two point too high.

You know the address, go to the city's website and plug in that address. See what the tax is. If the property next door is similar in shape and size see what its tax is as well. 

Regarding family, um, does your brother plan to pay rent, and if so are you emotionally willing to evict him if he stops paying or fails to render the level of service you want? I could sort of see having a sibling live for free or a reduced rent to manage a multi-unit (with a willingness to throw them out if it doesn't work) for a multi unit building, but not for a duplex. 

@Andrea McCants how long has this tenant been living there? Has she just now noticed this or is crime getting worse?

She did ask for a high fence and you've discovered that it isn't allowed. Well, you've done what you could. If she is unwilling to call 311 or 911 or work with neighborhood anti-crime groups (and just showing up to meetings to complain is not it) maybe she needs to move when her lease is up.

That zip includes what I call the depressing route back to DC and I did not bother looking in that area when looking for a Baltimore investment. There was nothing there I found remotely attractive. So there is my bias.

Charles is correct that you should concentrate on cash flow. Yes, the mortgage is part of it, but there is also insurance, water, vacancy and all the other stuff that must be factored into the price. If you've been reading up on all the stuff here on BP you already know that.

I don't think Gwynns Falls or Leakin Park is up and coming the way some other places in Baltimore are "up and coming" (and still coming but not there to wherever the heck its going), but there are investors there, as I've seen stuff pop up but there is nothing there that works for me, but that's me.

I agree with @Andy Gross. Even though Baltimore is linked to DC by the Baltimore Washington Parkway, I-95 and the MARC trains, DC is not going to rub off on Baltimore. Baltimore has it's own culture and whatnot and is not really considered part of the DMV (the DC metro area).

My boss at my main job lives in Baltimore City and works in DC. I've known other people who have lived in Baltimore and worked in DC or NoVa. Baltimore is a different city, and some people like that and want to live in an urban environment without paying DMV prices. So I know I'm not going to be able to charge DC rents and I looked in areas where I sighted the kind of people I want to rent to. When the rehab on my place is done, we'll see if they want to rent from me.

Lastly, @Mariama R. a historic district doesn't seem to mean much until the neighborhood is raised up on its own. LeDroit Park in DC is a historic district and I remember a time when it was teaming with drugs and a crazy amount of violent crime. Now, it's a great pricey neighborhood. 

I walked through Druid Heights. It has great looking old buildings but I did not see the kind of demographics that would work for me. It is close to the places that would, but I'd have to research it further and ask myself how long I'm willing to sit on a place with stupid high taxes.

I'm trying to imagine this, but I have a limited imagination at times.

I have recessed lighting but only switched out the bulbs for LED bulbs. I have noticed little foam skirts/ round disks under the trim. 

You will want to be able to change the lights, because regardless of what the packages say, those buggers do burn out (get dim/ aren't as good) after 5+ years of heavy-heavy use. I think most of the packages said my lights would last 10 years, but I have had to replace my LEDs a couple of times. Not a lot, not as much as the old incandescent bulbs, but sometimes things happen.

@Shelli Brown I'm curious of why you chose to post on BiggerPockets as opposed to maybe a local forum or a tenant's rights board.

Anyway, if what you say is the whole story, then you need to move. Now. Pack. Now. Leave. If you're just "thinking about leaving", then you'll probably stick around until a big storm caves the roof in and the local TV prettyboy talent is standing outside your place reporting live on the scene. Nobody wants that. For your own safety, move.

I'm guess you're not paying (when you were paying) enough rent to make it worth his while to do any major fix and maybe he's just waiting for you to move so he can come in and sell it so it can be someone else's problem. Or fix it or tear it down and rebuild and charge a higher rent that will make it worth his while.

Move. Have a garage sale and move.

.....Unless you want your life to be a bad country song.

@Fatimah Wilson I started with house hacking back when I was in my 30s and there were plenty of first time home buyer programs in the District. It was a fee simple house and I wasn't the only person on the block renting out extra bedrooms. The equity in that house allowed me to buy two other properties. Consider a house with a legal in-law basement or that could be converted (realistically) into a legal basement apartment. If you're part of a couple, you might want that extra bedroom(s) to be not adjacent to your room, so maybe a legal bedroom in the basement or at least a master bath/huge closet between you and your roommies.

Regarding rehab. When I bought my house, it was superficially move in ready..... Superficially. In time I was able to save up for my first renovation and get a real sense of what the place actually needed, and in the meantime I did a little DIY work here and there myself. If your heart is set on a condo, then what does it really, really need to move in as opposed to what would be nice, and what can be done while you're living there? Also rehab takes longer than anyone estimates and try to avoid living among the dust.

1) Safe. How would you define that? Many NW neighborhoods have their own vibe and what some may see as funky others take as unsafe. There are parts west of the park (Rock Creek Park) that are very stable and boring and are in the preferred school districts. East of the park and west of the river there are more dynamic neighborhoods attracting lots of young professionals and hipsters who are attracted to the local bars, restaurants and coffeehouses. I love and live in Shaw, but it still has some rough spots and is economically diverse, which may be seen as "unsafe" to some. same goes for Columbia Heights, H Street, SW, and Petworth. I also like Mt. Vernon Sq & Triangle, Penn Quarter and Gallery Place.

2) Personally I think condos are expensive and the condo fees are crazy. Almost everything (condos/fee simples) north of Anacostia is expensive.

3) IDK

4) DC is very renter friendly. In very popular neighborhoods parking is gold and you might have to buy a parking spot, if one is available.