All Forum Posts by: Emily Howlett

Hello! I recently found a duplex near W 14th and 15th & Warren St in Davenport, IA, that makes a lot of sense when I run the numbers on it. However, having never been there myself, I'm hoping that some local folks would be willing to help me determine what class of neighborhood it is. I've also found a few comparable rents on Craigslist that say I should be able to get about $700-$775/month for each unit. Does that seem reasonable?

Any input would be appreciated!

@Zachary Miller Fantastic! Thanks for the input, and I will start looking in both areas.

@Michael P. I'll have to start looking at places around there, too. I'm not incredibly familiar with Baltimore, but what class of housing (A, B, C, D) would you say Fed Hill/Locust Point qualify as?

@Michael P. Thanks for the suggestion, Michael! I'll start taking a look in that area. 

@Russell Brazil - that's a very good point that I hadn't even considered. Thanks for pointing it out, and I'll definitely look into those! 

@Michael P. - I actually live in Arlington and work in Ft. Meade. I was looking more on the MD side, because the properties I've seen in Arlington have been a bit higher priced than would make sense for me. Do you have any recommendations of which neighborhoods to look at in Arlington?

@Russell Gronsky You hit the nail on the head. I guess I'll just have to make sure to remind myself of the concept that this place isn't for me - it's for a renter. You're right that it's more about hitting the overall right number than 1% or 2%! Again...I'm apparently just having a hard time internalizing that. For an in-law apartment or separate apartment, do you think it would be a marketable residence in this area if it didn't have a kitchen? I've found a few places I believe I could easily modify to be a separate apartment, but none of them have kitchens. 

@Slaiman Atayee I have been keeping my eyes open for both purely investment properties as well as a personal home with rental potential. I think that's part of why I'm getting thrown for a loop with shiny object syndrome. I do have a bad habit of forgetting that listing prices are just starting points for conversations and that low offers are not a bad thing. I would be willing to look in Bmore, but I'm hesitant since I know it can be a pretty dicey area, and it's hard to tell from block to block just how dicey it is.

@Malcolm Lawson - Thanks for the insights- they help a lot. I have been actively looking for and am open to both primary residence and pure investment methods of investing. Like you said, though, hitting that 1% mark in the area is pretty challenging. I also appreciate your insight about the ways to make profit from a rental home - I have a bad habit of focusing only on cashflow.

@Matthew Paul: Thanks for the input - I'll be sure to focus my search on Pasadena, Millersville, and Glen Burnie with an eye open for the random deal in other areas. 

@Russell Brazil: When I say that the numbers don't work, I'm talking about how when I account for costs such as mortgage, anticipated CapEx/repairs/etc, I end up with a negative cash flow.

Hello! 

I'm just getting started in looking for properties in the Baltimore/Fort Meade, MD area, and have been running into some mental blocks - I'm hoping you can help me! 

As I said, I'm just getting started looking at properties in the area, and I've found a few that I love but they either don't work in terms of numbers, or I find small things about the house from a personal perspective (layout isn't ideal, not as modern and "shiny" as I'd like, the neighborhood is okay but not great, etc) that make me hesitant to jump in right away. I've found that the numbers not working is easy to say no on, but do you have any tips or personal experiences you're willing to share exemplifying how to say yes to a not so shiny and exciting house even if the numbers work? 

Any help would be greatly appreciated, as I'm excited to get my first property but apparently my subconscious isn't quite as ready as I am. 

- Emily

Thanks for the input! I'll make sure to check out as many of these groups as I can