All Forum Posts by: Anthony Garcia

I actually don't have too much cash for a purchase this year as I'm currently under contract on a ~300k property.  I have more experience with higher end areas of Baltimore such as Canton, Fells, and Brewers Hill.

So, I'm only looking at cash out of my pocket @ a max $30k.

What a great idea... thanks!  This will mean I'll have to run to the house to know the water payment, but it's an interesting approach to make sure it's a fair split.

I don't understand why you need an address if there are long term tenants in place. I've done a little research on rental comps and they're in line with the area. I'm asking if the numbers in my spreadsheet seem like a good investment. Assume there isn't a murder every other Thursday.

I've never heard of a separate meter for water here.  My concern is that you may have one tenant that leaves the water running all the time and another that is efficient.  I'm finishing up a 2 unit renovation that I'm planning to rent with all utilities included.  

@Eric H., thanks for the reply!  Is your current rental a multi unit? The reason I ask is because I find it hard to charge the tenants for a variable cost that doesn't have a separate meter.

That utility cost was for water which the city keeps in the owners name.  Water is quarterly here which is why it's only x4.  Luckily the hot water heaters are on separate meters so they'll cover that.  

As for lawn service, since these tenants are already in place I can't just increase their rent to include lawn care so I'm counting it as a monthly expense to me.

Where I live, you don't really get into a <100k rental for equity, so I'd be looking at this from strictly a COC perspective.

Thanks!

Anthony 

Hello All!

I'm a new to BP real estate investor in Baltimore with 7 rentals and am looking to grow my portfolio.  I've come across a 2 unit property that I'm interested in that I'd like to get some feedback on.  I've just started analyzing properties to a higher level of detail (Thanks to BP) and realized some of my rentals are great while others are not so much.  So, I wanted to run this one by you guys!  It is already tenant occupied, with one unit having a subsidized tenant and the other is regular payment.  The subsidy tenant has been there fr 8 years while the private has been there 2.  The cap rate isn't awesome... but the COCROI is pretty decent in my opinion.  I'd have to put down 30% down due to Freddie Mac guidelines.

Here are the numbers:

Welcome!  I just joined yesterday and actually live in 21224.  What has you considering here when you live in Parkville?

Hello!  Apparently I've been living under a rock and have recently discovered bigger pockets!  I'm about to turn 30 in March and currently have 7 rentals in Baltimore.  6/7 of my properties are in higher end areas of Baltimore City but the most recent one I purchased is in more of a blue collar area.   The margins should be significantly better % than my others but I'm not sure if the different area be tenant pool will be worth it; it's my experiment.  

I'm very interested in learning more about multi units, mixed use, and commercial rentals.  All of my properties are SF or 2 units.

Anything else you want to know just ask!