All Forum Posts by: Tariq B.

If it is no load bearing then you wouldn't need a header.

Welcome, 

My advice to you..is to look into section 8.

Thank you for the responses! @Gary Landon It's Baltimore tons of houses go for $10,000 below on a daily bases it seems like. There is a never ending supply, and I have thought about what you are talking about but with an o didn't street, but a lot of the houses are so far behind in taxes it tough to make the numbers work...I would have never imagined it would be that expensive to fix I was thinking 5k to 10k max. Only reason I was giving this property a thought is because habitat for humanity has moved in and are fixing up 21 houses on the street perpendicular to it.

I will try my best to keep this short:

So today I checked out a place asking price 10k. The house is about 100 years old in a neighborhood with quite a few abandoned places...looking at the pictures the place looked great so I thought what is the catch. I had to check it out as they just dropped the price 3k. So I opened the door and I was amazed the place, big, nice open concept. The plaster had been replaced by dry wall, the pluming was redone as well as the electrical (minus a few cut cords) the furnace was shot tho. Anyways the catch...well I walk in head to the back of the house and man it is the worst slop I have ever witnessed. Tile cracked, door jams coming away from the wall, kitchen cabinets coming from the wall, bad stuff. It is quite clear to me there is a structural problem. The back end of the house slopes bad as well as the upper floor and there is a bowing support beam on the roof bowing down. So my question is. To the other investors on the board. Would a structural problem as bad as this prevent you from making a deal, considering you don't exactly know how much it cost to fix. Given you can't get accurate numbers until you own the property.

Hey there!

I bought my first house when I was 21, the second I closed on it I had friends lined up ready to move it two friends paying $500 each..mortgage was only $540 at the time. It was at that moment that I realized how easy being a landlord was, so naturally I was hooked. I am now 23 and have an offer in as we speak on my 4th property. I have one already paid off! Make a plan like it sounds like you have and try and find your niche.

It literally is either a twist and pull or a screw somewhere there that is holding it up. You could always you tube it and try again. Or just pay to have it done, just like you said it really should of been fixed before she moved in. Good luck

Hello ladies and gents,

       There is this town home I am considering putting an offer in on. In this said property there is a bedroom that is in between two other bedrooms and against the wall of the neighbor. Now this bedroom has no window and I can't put one to the outside since it is a town home. Game plan is to section 8 it...more bedrooms, more money. I have considered putting in a sky light but that could be costly. Not sure how much that would run. Just wondering if anyone on here has some creative ways to make this a legit bedroom. Thank you for your input. 

one thing to note, section 8 will not allow a property to be nest to an abandoned property, just food for thought. But I love the program, so far so good. Can't wait to get another  

Greetings Shannon, 

I am having pretty good luck so far in the 21215 area code. Specifically around the keyworth ave area. I just bought a property for 29,000 and had to put about 4000 into in fixes. It is being rented out for 1208 a month (section 8), and the house has two very abandoned houses right across the street. My goal is to bring up that street entirely so at some point I may try to snag them unless someone beats me to it (good for them). Point being is if you make the inside of your place nice people will turn an eye in the most part to abandoned properties. The first person I showed it to handed me her voucher right away. If you are interested in getting some cheap places look into tax liens but that may be something to consider down the road. I agree with others. Get a place that doesn't require a total gut job for your first one. There are many to be had.  

Good job! But I'll do you one better. ;-)  Purchase price 29,000 put 4,000 into it. So $33,000 all together.

Monthly rent: $1200