All Forum Posts by: Nick H.

No problem! Yea you would want 3-4 bedrooms to get that kinda of rent. Also by block by block I mean that rents can vary depending on what street your on within the town. In Baltimore you can have areas with higher rents and areas with lower rents that are not that far apart from each other so you have to look into what the house you are interested in would rent for.

Baltimore can be block by block check out rentometer for the properties you are looking at and you can get better idea for yourself. I would say to get 1400 on a two bed room is going to be kinda tuff. 

PM me I know a company that can help. 

I use her I am a new investor, but she was recommended by more seasoned investors to me because she invests in real estate herself. Hope this helps

http://thewealthbuildingcpa.com/

With renting a garage you have make sure they are nice and dry which I'm sure you know. What you can do is if you are a landlord rent them to your tenants. Also as you grow as a landlord you could keep appliances and  lighting fixtures that you get on sale and keep them in your garages until needed. That might be a niche you can market to landlords who might need to stash appliances etc for their many rental homes.

Just a tid-bit I almost got burnt by a multi family property. In Baltimore if a house sits Vacant for more than a year it loses its multi family status and it can be a lengthy process (Some cases over a year) to get the status back. I had a house in bel-air Edison that I had a contract on did the numbers as a two unit, but it lost its status so I got out of the deal because Zoning said the lot size was too small for me to just request it back I would've had to go to court which takes time and money and the city could've still not let me legally rent it as a two-unit. So be careful with your search if the city knows it's been vacant over a year it will revert back to a one unit and you may not be able to get it back in some cases because of the lot size of the property and then you might not be able to legally rent as a two unit. Just something to be aware of on your property search. 

@Tim Youse thank you for your input It has helped me make my decesion I went with the house in west Baltimore 

Harborbank maybe someone you look I am currently looking myself, but a couple of experienced landlords recommend them might be worth a look. 

The section 8 program lost a lot of federal funding so they are not giving out as high rents as they use too. The inspectors are almost always going to find something wrong on the inspection because if you pass on the first time you do not have to get inspected for two years instead of annual inspections. If a lot of landlords pass on the first time that means less inspection less inspections and that means less inspectors. County section 8 is much easier to work with and more willing to give you what you ask for rent wise where the city has been low balling people. Lead free is better for peice of mind I can say.  Hope that helps at least a little bit. 

@Tim Youse wow thanks for your perspective thank you for the input