All Forum Posts by: Jeff K.

Nicole, the whole billing system for City water is messed up.

I have one house that consistently bills in the $200's per quarter-I have replaced toilet guts, sink aerators and shower heads, and a plumber confirmed no leaks. I have another one a mile away that consistently bills in the $ 60's and $70's per quarter. Everyone on these blocks have similiar bills as mine.

I heard that they were going to install smart meter type of meters to get real-time billing instead of constantly estimating bills. I don't know if that's true, but maybe that would put a stop to this nonsense.

Hi all.

My question to all who self-manage is: while repairs and maintenance are a big part of owning rentals, what about the other major part which is getting tenants and dealing with tenants. Whether you go section 8 or not, what processes do you have in place to make that easier for yourself in this town?

Welcome Christian!

If you ever think about the Baltimore city area it is imperative that you drive the streets and become familiar with the areas you are looking into. Or, partner up with someone who can do the driving while you are away. Too many seemingly good deals could be pitfalls if you dont know where you are buying.

I would suggest that wherever you are you should attend investment groups and meet-ups to network and get advice on finding local team members. In Baltimore there is Mareia, Bareia, BWI meet-up, the Real Deal. 

There are several forums and discussions here on BP regarding what to look for, and  questions to ask while you interview agents, Property Managers and contractors.

Good luck!

Welcome Joseph! One bit of advice I would offer is that you should take some time to drive the streets and learn the neighborhoods when you get back. Baltimore is sometimes block by block and you want to know exactly where you are buying, in addition to what you are buying.

Thanks Jeff G, that website was an excellent resource!

Hey John, I have 1 section 8 tenant and she has been with me for 4 years now, with minimal hassle. The biggest problem I have is the yearly inspections-you should budget money every month for this, in addition to the typical maintenance you budget for, because they WILL find something wrong.

Just check with other landlords in your area about what the reimbursement rates are. If they are less than market, that might give you more to think about before signing on to the program.

Welcome Shannon.

The first thing I would advise is that you Google and then go to one of the many meet-ups in and around Baltimore: Mareia, the real deal, Bareia, BWI, etc

You could network with wholesalers, agents and other investors face to face and get people that you are comfortable working with that understand your goals.

I would also say that it is crucial to remain patient and not jump in to the first deal that comes your way out of desperation to " have a deal." Make sure you analyze it carefully so you dont just blow your cash.

 Finding deals are tough, and it could take awhile, but just keep plugging away!

Good luck!

Welcome Jordan!  You sound like you have many talents that could give you a lot of opportunities in real estate over and above the standard landlord/flip stuff. With an interior design background you could do staging for an investor flip. With architecture and engineering you could assist with rehabs, and consulting. Don't limit yourself and try to think out of the box!

What areas in MD were you thinking of getting into? If you are looking in Baltimore feel free to reach out!

Welcome Natasha! Which part of MD were you looking at for starting in? Baltimore City is far different then DC. I can imagine the prices on multi units in DC are through the roof to acquire, as the prices of SFH are expensive enough. I guess it depends how much money you have to start off with.

Since you know the tenant side well, now learn as much as you can about the acquisition and rehab side.

Maybe you can use your experience to rehab and sell turnkey properties that have tenants in place for investors, and then manage the properties for them?

Feel free to reach out to me if you want more info on the Baltimore market.

Hi Brittany.

One thing I have learned in Baltimore is that almost every zip has its share of the good, the bad and the ugly! Sometimes even on the same street.....

While some zips are more suited for flippers, they also contain their rental potentials, as well as blight-for the most part. There are rental investors in every zip code based on their goals. Some can tolerate cash flow in the hood and some want less cash flow in a better part of town. I think you should decide your exact goals and risk tolerance first and then drive the streets to see if the areas match up with what you want.