All Forum Posts by: Evan Schluederberg

Will do! When/where are the meetings? 

Also, thanks Mark! I appreciate the information. I'd love to talk more someone about your experiences with Baltimore investment.

l appreciate the additional cost insight Lee. We are switching our focus to single family to try and take advantage of the increased potential stability there.

Baltimore zoning office? 

We decided to let this one go. Waiting for a safe bet!

Follow up, 

Just discovered that the house was zoned for 3 units, then re-zoned to 2 units but it actually has 3 and three separate tenants. 

Any insight as to how this could affect the deal? Would we be able to get proper insurance?

 Condition: Very Good, no apparent work needed, Would need an inspection to know more but it seems that everything is in great shape. All newly remodeled. 

Upgrades: New hardwood style floors, countertops, siding, water heaters, AC units (2), New paint, Bathroom finishes, 

Not-Upgraded: Kitchen appliances (all in good shape and looking good but definitely not new)

Tenants: Hard to say b/c they all moved-in in April 2016. Not a lot of rental history at this property and I haven't had a chance to look at leases, payment history, occupation etc. I've briefly met 2 of the 3 tenants and they seem very solid, nice, clean people. 

Lead Certificates/Lead Free: Not sure yet

Finishes: Mid-grade, new laminate counters, black or white appliances in good condition, new hardwood floors, new bathroom fixtures/vanityf

Neighborhood: Windsor Hills

Hope this sheds some light. Let me know your thoughts and thanks!

My wife and I are looking at a 3 unit, fully-rented house in a suburban neighborhood 20 mins from downtown. The house has been completely renovated (completed in Feb/March 2016) and seems to be turn-key. It was investor owned and he is liquidating several properties at the moment. 

Here are the stats:

- 3 Units, 2 - 2BR/1BA, 1 - 1BR/1BA, All with separate meters and entrances

- Unfinished basement

- Purchase price = $162,000

- Gross monthly rent = $2,600

- Property Taxes = $4,279

- Tax assessed value = $184,000 (assessed in 2016)

This would be our first investment property.

What do you think? Good deal? Any reason to not move forward?

Thanks for the assist!

I'm currently looking at a property with 2 residential and 2 retail spaces. Can you get an FHA loan with this configuration? Thanks for the help!

@Gabriel Garcia I'm looking in those areas as well. There are a few "gems" I've found that can make it work but they have issues as a trade off. We'll see how it works out

@Gabriel Garcia there are very few options that I've found that work. They have issues that need to be solved/remodeled and that can get the price down. I'm looking in all those areas as well but so far nothing terribly attractive there either, yet. We'll see