All Forum Posts by: Eric H.

@Anil Samuel Congrats!

Now this is a stellar deal bro! I live right down the street from this property, on Walther. If you get anything else in this area that you wouldn't mind sharing, please let me know. 

Continue crushing the game!!

@Ethan Kramer, greetings!!

Congrats on taking action.

Here is my insurance referral: Hillpoint Insurance

You can check the File Place for a lease but definitely have it reviewed by a lawyer.

Not sure if you are in Baltimore County or Baltimore City. I know in the city you will have to get the property inspected and registered as a rental property with the city. You also need to set up your lead inspection. Other things to consider; tenant screening process (will you charge an app fee, how will you process apps, how will you handle showings, what qualifications/criteria does tenant have to meet, etc), how will you collect rent (in person, by check, electronically, etc), how much will you charge for rent, how will you process an eviction, how are you going to handle maintenance issues, and I'm pretty sure I'm missing something but experience is the best teacher!!

I wish you the best!!

@Tomiko Graves greetings,

I recommend that you use a reputable tenant placement agency or property management company that has experience in subsidized housing programs. You can also use gosection8.com to find a tenant.

@Solomon Morris greetings,

Consider the age of the ductwork itself as well. It may be need to be cleaned, it may need to be sealed to prevent leakage, it may need both.

@Eric M. Johnson greetings,

do you mind sharing the grant program you are referring to? TIA

@Silvanus B. greetings,

To learn your market I suggest looking at properties online everyday. I do this with the Redfin App on my phone. The more you watch the market, the easier it will be to identify a deal when one becomes available. If you know that duplexes in your target market that meet your criteria (sq ft, beds/baths, style, condition, age, price range) go for 100k, when one comes on the market for 80k you will be able to jump on it. Tracking the market daily is the best way to learn the market imo. Other ways to learn.....go to your local REIAs and network with other investors and agents, ask them where they are buying, what they are buying, for how much, and in what condition. Also ask them about rent prices. 

Hope this helps!

@Dan Pearson, greetings and welcome to BP. Thank you for your transparency. I totally agree with @Seth Ferguson...you are going to have to take action, just jump. You may be surprised at how you make out given the knowledge you already have. Furthermore you have displayed great patience and I think that will work well for you moving forward. Some of my worst deals have come from my inability to be patient. In the end I believe there are really no 'bad' deals because I have learned something from every deal I have done. Experience is the best teacher. You will have to get some experience to get better. You will not get better on the sideline. I guarantee you will make mistakes. I guarantee you will make some right choices. Just do it!!

Greetings @Lianna Alcock

www.bidbaltimore.com

@Account Closed I invest in Baltimore City. I would not invest here if I didn't live here. As with anything there are pros and cons. My motto is 'choose your hard'. There are going to be difficult parts of running any business. I like the city for the cash flow and you can find good tenants for properties at those price points. Be patient and dedicated to performing good tenant screening. Be sure to call previous landlords and employers. Do not use the phone numbers on the tenant's application. Google the employer. To sniff out 'fake' previous landlord information ask questions like.....1. What is the address of the property that the tenant lives in? 2. How long has the tenant lived in your property? 3. Send the previous landlord a rental verification form to fill out and compare it to the tenant's application.

I wish you the best!

@Kate Yabar Greetings,

@Tim Herman provided some great advice. Definitely look into your local REIAs.

Personally from my experience I would say stay away from most of the seminars. I would highly recommend diving into some books. This site has a great selection of books on various topics. See here.

Additionally you can check out the blogs and the podcasts.

I wish you the best!!