All Forum Posts by: Alex Khojainov

I have a house in west Baltimore that I lived in for about 9 months while I rehabbed it. I moved elsewhere and the house sat vacant for a while until my coworker told me his buddy was looking for a place to stay.  Several months later i got in touch with the guy and got him to sign a month to month lease and get a copy of his driver license... I got a month and a half of rent out of him in cash and then the power was turned off because he never transferred it to his name and I never had a BGE account.  I told him that I was terminating the month to month when this happened...... 4 month later he is still there.  Just called him today, he caught an attitude with me, saying I 'f-ed up and need to go downtown to get him evicted'.  The house is no a registered rental.  Im meeting with an attorney on Monday.... Anyone have any advice?

I own the house through an LLC, the seller has a note on it for $7500 that I pay monthly on. Any ideas on how much of the value I can get out?

I have a 3/1 in West Baltimore that I bought on owner finance at 10% and had the wholesaler finance her fee as well.  I just repaid the wholesaler and can now refinance.  How do I get cash out of the property?  I bought the house when it was tax value appraised for 55K, then had it contested to 30K.  I gutted the whole thing, everything in the house is new.  Houses in the area with similar levels of rehab are selling for 50 - 75K.  I own $7500 on this house.

How do I get money of this house and drop the interest that I'm paying?

 Need a level 5 drywall finish, must have license, workers comp, liability insurance and references.  Paying $9 per hour, I'll supply drywall mud, should take less that 20 hours hahahahaha

I almost fell over laughing when I read $250 to install an HVAC unit with the expectation of good results.... those guys go to HVAC apprenticeship/school/ whatever for a couple of years.  It's kind of like getting a dentist that will pull a tooth for $50 cash and a pack of cigarettes.  

Demo, drywall, MAYBE framing you can squeeze the subs for 1K.  Pinching pennies with your electricians, plumbers and HVAC guys will get you 2 Chucks in a truck and have you spending an extra 5K just to fix what they jacked up.

Hey Robert what area are you rehabbing on the West Side?  When I lived in DC prices for basement dig outs were around 20K.....you can get a whole house for that price.  Are you flipping the property?  If not, what increase in rent to you charge for a full size basement?

www.bidbaltimore.com

This is the tax lien auction site that the city runs.  You can see current owners, owner addresses, as well as whether the property has any tax liens, who bought them, or if they're still available to be picked up and foreclosed on.

Hey Lisa,

If you find any good wholesale deals in Baltimore City or County, let me know!

Depending on how adventurous you want to be, you can check out Pigtown which is right next to the casino and the stadium.  New rehabs are going for around $130K in the area, but I also have a junkie squatting next door to the house I'm rehabbing.

Ridgely's Delight is a relatively safe community as well, close to the stadium.  Prices here are still have room for appreciation.

Mt. Vernon/Seton Hill area is well on it's way to being gentrified, good rents for relatively cheap houses.

If you look at a map of Baltimore and imagine a butterfly on top of the map, you want to live in the body and stay away from the wings.

I did rehab work for a flipper in Baltimore County, he didn't have a business license.  If you're doing substantial gut and rehab repairs you might want to consider getting a GC license for Maryland to help you get permits.  I believe in MD you need to show around 2 years experience in the trades and have 10K in the bank, as well as liability insurance.  Ive installed low voltage electrical in a couple of houses in Westminster and they were all being rehabbed fast and loose....cardboard on the windows and no permits.

I would never recommend doing anything illegal but if you purchase a 3/1 house and when you rehab it it's still a 3/1 house, it's on the inspector or whoever else to prove that work was done without permits, not you.  I'm not telling you to build a new deck and sand off the manufacturer dates on the lumber......