All Forum Posts by: Sara Frank

We charge $395 brokerage fee for buyers and sellers at closing. This covers record keeping etc, doesnt go to the agents. Sometimes there is a retainer for out of state clients and then in 2023 were introducing minimum commission for purchases under a certain price but thats a group policy not brokerage wide 

Quote from @Samantha Mosquera:

I currently live in New Jersey and decided an out of state investment would be more affordable. I purchased a property in Baltimore which needed a total rehab. After a year of renovating the property and having a hard time with the contractor, we finally were able to complete the project and hired a real estate agent to sell the property. The house has been on the market for over 7 months without a single offer. Did I hear the wrong agent? Was it a bad deal? Should I just rent it and refinance ? I don't know what to do but this project has been very costly and was my first experience doing a full reno. Just hoping to be able to make back the money invested because I have 2 other properties that been to be renovated. 

Please help.

 Sorry you're dealing with this.. its really tough to sell a property that is next door or even on the same block as vacants. Unfortunately in Baltimore pulling comps is not as easy as picking the three closest sales -- SO many external variables can change from block to block that impacts value. 

What's the bed bath count? Love MTR strategy. 

Hey @Account Closed on Montgomery county! (rockville, sillver spring) -- you would be able do build or convert a space into an ADU and basically get duplex rents without the duplex price tag. Just make sure youre working within the permitting laws, but Montgomery county is more flexible than most of the rest of MD. A lot of first time investors/househackers are considering this strategy as there is very little supply of MF's in these high cost of living areas but plenty of renters

Do the two units have separate meters? 

Looks awesome congrats 

No specific zoning needed -- as long as you are living in the property you are eligible to get a STR license. This is the same whether its a SFH or multifamily

Hi Tobi! Welcome to BP & investing in Baltimore.

Margins are too slim for this where I am located (Baltimore, MD) but could be an interesting idea if its a very high cost area or large house. I imagine it would make a big difference to the renter if they see no fees on a $500+/night stay. Not sure the psychology on this. Not afraid to throw my hands up on this one. 

One step further -- the FHA 203k is a rehab loan version and can be very powerful if used correctly! Thats what I used for my first deal to add equity and house hack.