All Forum Posts by: Raju V.

$2450 is high, it should be about 1/2 of that. Also I would not replace it if it's working fine. It could last a few more years. 

Sorry I don't know the exact name of the paint. I just usually let my contractor buy what is appropriate. I think it some type of eggshell.  

I paint everything one color. A light cream. Floors, ceilings, baseboards, etc. It's really easy for my contractor, one sprays and one uses brushes. I guess general rule would be if rent is less than $1500 one color ok, more then $1500 I would do the 2 colors. 

I don't regret owning them, but I do own other units that are considered Class A, B, and C. So I am well diversified. My Baltimore units are more of a gentrification play. I would just buy 1 unit and see how it goes, if you like it and things are going well then you can buy more. I do have some good tenants in most of my units. I just wanted you to prepared for the worse, but hopefully things will work out. 

Hi, I don't think anyone answered your question. I currently own 12 units in Baltimore City. Paid around $30,000 or so for them around 4 or 5 years ago. Looking at one of my HUD-1's. I bought one unit for $28,160 and paid $2358 is settlement charges. $1395 for title charges. $848 in transfer taxes, and $115 is recording fees.

As others pointed out dealing in the lower price units can be very tricky. Horrible tenants that trash your place, don't pay rent, very high turnover expenses, high maintenance costs due to the age of the units and also low rents. So what every 'Numbers" you are running for your plan, I would cut them by 60-70% to get your real cash flow. 

I'm not a big fan of the changes and find myself spending less time on the site. But one small fix to the current site would changed that. And that small fix would to get rid of the summary under the title and just go back to listing the titles. I find that there is no reason to have 2 or 3 sentences under the title. All I want to see is "Wow I give up this new format is not working for me" I want to be able to see the top 15-20 titles and scan them quickly to see what I want to click on. I use a desk top and have two 24 inch monitors and as of right now under trending discussions I only see 1 thread and 1 sponsored on my monitor. I used to be able to see like 15-20 posts/threads on that same screen. Just food for thought....

@Sven Segers Why do you think you need $70,000 worth of rehab costs? The place looks to be in great shape. If the mechanicals, pumping, electrical are in good shape, this would be a small dollar (i.e. less than 5k) rehab for me.  You are only going to get $800 in rent, no need to over improve it. 

I have some properties in Baltimore that have cages on the HVAC units outside. General rule of thumb for out of state investors would be to stay away from properties that need "cages". As for you 4k estimation to turn over the unit, sounds about right for a unit that needs a "cage"

Please do not pay for a "deep clean" for $10,112, that would be a waste of money. I just evicted a filthy tenant. I'm just painting and putting in new carpet. And doing a normal clean with my cleaners for $300. 

Also I don't know if I would be quick to evict them. Maybe you can have a talk with them. Who knows she and her 8 kids could stay for 7 years. And you will still have basically the same turn over cost.