All Forum Posts by: Nidja Bell

Anyone have recommendations on a local bank or credit union to use for a refinance in Baltimore? Shopping around for the best interest rate and a rep that will actually give me a call back. I have a duplex that is under my LLC that I'd like to refinance next month.

3 Votes

Baltimore, Maryland

Quote from @Jay Thomas:

Furnished rentals can bring in more money, but it's not a sure thing. They might rent out faster, especially to tenants who want everything ready to go, but there are drawbacks, like the upfront cost of furnishing and extra work managing the furniture. Check out the demand for furnished rentals on platforms like Furnished Finder in Baltimore and see if it's worth it. Also, look at the competition and check the rules for short-term rentals in your area. If it seems like too much, think about traditional rentals, rent-to-own, or teaming up with corporate housing companies for a simpler and potentially more guaranteed approach.

Thanks so much for your advise!

0 Votes

Baltimore, Maryland

Quote from @Sean Monahan:

Hi Nidja. I own a few MTR's in Baltimore. Russel listed the neighborhoods most in demand. If this were me I would test the market and list one as a long term rental and furnish the other and list it to test the market. I'm not sure the numbers you have to give the best advice. If you do decide to list and target travelers, you may have luck targeting the travelers that are going to the medstar facilities in that area. I know they have a good amount of travel nurses.

Great idea. Thanks for the advice, Sean!

0 Votes

Baltimore, Maryland

Quote from @Russell Brazil:

Quote from @Nidja Bell:

Currently rehabbing a home in 21214 area code. Nice neighborhood. Property is a duplex. I was thinking to furnish the units and put it on furnished finders since I can't get a STR license in Baltimore with the home under my LLC. Property is about 20 minutes from Hopkins. Is this a smart move or should I consider other options? Any advice on what would be a better route is highly appreciated!

Mid term rentals are going to work best in Canton, Fells Point, Federal Hill, Locust Point and Charles Village.

Any suggestions on a better way to maximize cash flow in that area?

0 Votes

Baltimore, Maryland

Quote from @Jack Seiden:

Quote from @Nidja Bell:

I’m not sure how much demand there would be for mtr in that area, I’d definitely nail down some comps for rent before I spent the money furnishing it.

Thank you so much. So you’re advising to find comps as far furnished finder bookings in that area or to look into what normal rents are going for in that area?

0 Votes

Baltimore, Maryland

Quote from @AJ Exner:

Quote from @Nidja Bell:

Nidja,

That sounds like a great idea, I think if you do that and utilize a DSCR lender that is maybe more comfortable with underwriting a "vacant" property (MTR/STRs usually) then I think you would be in great shape. Especially if you want to keep it and get it cash flowing after you get done working on it.

Happy to give some suggestions or help in any way I can.

Good luck!

Thank you so much!

0 Votes

Baltimore, Maryland

0 Votes

Baltimore, Maryland

Currently in the process of a BRRRR in Baltimore (duplex). Nice, safe neighborhood in 21215 area code. Contractors are working on it as we speak. Looking for advice on what I should do with the property. My original plan was to rent out the space to Section 8 tenants, but from my experience so far, dealing with Baltimore City housing and inspections can be a serious pill. My other options would be to Airbnb it (property close to Morgan State, JHH, and more) or rent it out to a regular or student tenant. Anyone with experience in Baltimore have any suggestions?

1 Vote

Baltimore, Maryland

All Forum Posts by: Nidja Bell

Nidja Bell has started 3 posts and replied 8 times.

Post: Credit Union/ Local Banks in Baltimore

Post: MTR in Baltimore?

Post: MTR in Baltimore?

Post: MTR in Baltimore?

Post: MTR in Baltimore?

Post: MTR in Baltimore?

Post: MTR in Baltimore?

Post: Baltimore BRRRR Advice