All Forum Posts by: Tim Youse

Not sure if this helps, but what if...instead of using the same partner for all your deals, you packaged each deal and offered them to various buyers to act as partners; either to fund the front end of your deals to be paid off during the refi or sale (in case of a flip), or as a long term partner in the case of an eventual buy and hold rental. 

Or - is your question more of, ideas on how you might structure such a partnership properly for tax and legal purposes?

Are you using MD SDAT? Try this one. Goes back a little further than SDAT does:

MDLANDREC.NET

Congrats! If you can pull $15k out of just 3 paychecks, I think you can easily afford both 401k contributions and RE investing. Good to diversify IMO as your 401k is basically making  you roughly 30% gains immediately.

You can still cash flow anywhere in that area, but within that threshold,  the properties to the west (closer to St Paul's) and north (closer to 29th st) will be the most valuable as you'll be closer to JHU. Nothing wrong with the west side of St Paul's or north of 29th. There is a noticeable decline in home values as you get closer to greenmount and south of 25th St.

I'd agree that the area near Greenmount isn't really considered "east" Baltimore even though it is east of Charles St. It is somewhat close to JHU but a little too far to attract a lot of students IMO, but that doesn't mean you'd have trouble renting there. (the further away you get from Greenmount - the better - west of greenmount tends to be better than immediately east, but not going to find deals in Guilford)

If you're having trouble deciding on which one to go with, to me, it sounds like the place on the west side would be a better investment especially if it appraises for $30k - $40k more than the place on 33rd street - and it's closer to you. 

True, but there are some places on the same streets with buildings literally falling down with no roof. If the time stamp is from this year and a property is listed for under $5K or $10k, then chances are the street view is more or less accurate.

I have relatives not too far from your location - down in and around Fort Dodge - and you're correct, the ghettos in Baltimore are quite different than those I've seen in IA.

If you're trying to go lead free (and you'll want to since Baltimore has some extensive lead paint laws) then be careful of seemingly cheap properties. You can google street view the streets and see how many board ups are there - and if there are more than a couple you may have trouble finding tenants. What zip codes / neighborhoods are  you looking in?

To add to this, there is money to be made in 'bad parts' of town, but it's crucial you become familiar with those areas before investing and go visit the properties. You typically looking at being all in at $65k - $75k and with section 8 you can get around $1500/mo for a 3/1.

Couldn't she refinance out of the FHA loan - and then the rental income would qualify as income?

Hi Kim, can you share what city program or bank you used to get a conventional loan with no PMI with only 3.5% down?