All Forum Posts by: Shaquetta Chittams

Who are your favorite title and home warranty companies for traditional buyers in Baltimore? 

I'm in the process of purchasing a home. Is this still a good title company and are they buyer friendly? 

@Tom V. I understand now. We were planning to pay the rent as if we were a tenant and use the "cash flow" saved to move onto something else. 

@Ciprian L. @Tom V. Is it possible for you to show me in the spreadsheet so I can follow it? 

@Ciprian L.

I will need to include the PMI and I think my maintenance was based on 5% of the gross rental income. Here are my updated numbers with 10% maintenance reserve and PMI.

HOLD worksheet

@Christian Abella Yes I've definitely heard of house hacking which is what we were looking for. Could you explain the significance of the LTV, what I should be looking for, and also what I should do about the lack of comps in the area. I don't want to overpay for a house and we cant resell?

@Christian Abella I would be an owner-occupant for one of the units. So you're saying the LTV should be around 80-85%? There haven't been any tenants so there are no leases; however, the rental comps are between $975-$1,200.

I'm looking at a duplex with an asking price of $159,900. I did my numbers using the HOLD worksheet and it appears to cash flow about $600 a month. HOWEVER, the only comps are for significantly less but they aren't renovated. It was purchased for $90,000 and renovated. It has a new roof, 2 new hot water heaters, and one new furnace. The there aren't any comps in the area for renovated properties. My numbers say it will cash flow and I received a pro forma but I'm not sure if I can trust it. I even looked for 4/2 single family homes and I found the same thing. Most of the properties sold in 2007. I offered 155,000 with 2,000 toward closing. The seller countered full asking, 2,000 toward closing and 2,000 EMD. What should I be looking for to know if this is a good deal? I've attached the ProForma from the seller and my numbers using the HOLD worksheet. 

Hi!

I'm looking for recommendations for a TREMENDOUS home inspector. Someone who is reliable and timely with issuing reports and works in Baltimore.

@Account Closed Hi! Do you have contact information for David Armstrong?