All Forum Posts by: Jeff K.

Thanks @Wayne G

That is a lot of good information regarding the future of City Section 8 policy. I'm with you on your comment regarding the dealings with Govt.....

Thanks for the input @Nicole W. 

I agree that their payments are above market.

Regarding the Lead Inspection, are you sure they will not reinspect if you are lead-free? I believe with this certificate YOU do not re-inspect for lead between tenants, but Section 8 will come out yearly to make sure the property and all its systems are in a habitable condition.

Jeff

Hi all. Like others I am having some bumps with Baltimore City section 8. On the yearly inspection they gave my tenant issues and are threatening to cancel her voucher for some ridiculous stuff.

I am curious-Can anyone with Baltimore County section 8 tenants and experience please chime in regarding your experiences with how their voucher program stacks up? Is it the same red tape and stupidity associated with any govt. agency in terms of the customer service, nitpicky inspections, and overall running of the program, or perhaps, is it smoother? I have also heard that the county may pay more for 2 and 3 bedroom SFH?

This might be useful info regarding future acquisitions and planning.

Thanks!

Jeff

Thanks for the info Nicole.

I agree that Lead Free is probably your best defense against litigious people, but unfortunately in MD there is no guarantee which way the courts will go.

I wonder if going lead free would help with financing,  as many banks pulled out of financing investors in the city because of lead paint lawsuits???

Just a thought!

Jeff

Welcome to the Baltimore market Jason.

One thing you might want to think about when you consider flipping here is whether you were going Baltimore city or county You can get some good deals in the county,  but the price point is higher. 

Jeff

Glad you found the site!

I think your divers background and family accomplishments will serve you well!

What areas are you looking to invest in?

Jeff

In addition to the higher rent, how many other locals get yearly increases? 

Baltimore us giving a 2.5% increase and told me it could be done every year.

Also- in addition to paying more depending on a neighborhood or street, don't they pay extra for stuff such as screen doors, microwaves, ceiling fans, A.C.etc.?

Jeff

Hi Nicole. Like @Mark my 1st property was a section 8 tenant in a real "rental only" kind of area of Baltimore City. The tenant moved in January of 2011 and is still there. My only complaint is that maybe she keeps the place more messy than I would....

However in some places in the city the only way to make any money is with section 8. Finding decent paying tenants that won't trash your place, run away after 3 months of not paying rent, or necessitate an eviction, could be a real challenge. You have a little more built-in protection in that your money(or part) comes like clockwork, and the tenant has some fear of getting kicked off the program if they misbehave.  

In a few areas of the city you can get really great market tenants- then you will not have to deal with the yearly inspections that section 8 requires. Know the area your rental is in to determine the quality of market tenant you could get.

The trick with section 8 is to screen as you would any tenant. There are truly people that are ok, even though they are on these programs. They are willing to abide by rules, and are just looking for a decent place to live.

Also search around BP-there is alot of discussion about market vs. Section 8. Just keep in mind what points are relevant to your local area.

Jeff

Cynthia-one little extra thing to keep in mind is that there is a charge to register your alarm with the city-I am not 100% sure but I think if it goes off too much the city will charge you when the cops come out.

Check out baltimorehousing.org for more specifics.

It is probably a wise investment either way, even not adding any value to your house, knowing crime in this city. But, definitely shop around.

Good luck at the auction! As everyone said be careful to check out as much as you can in the house at the walkthrough and set a firm upper limit that you would pay based on the amount of work you think it will need vs. expected rent. If you have a PM lined up see what they might have to say about other rentals they are taking care of in the area ( I.e. section 8 rent they are getting, ease of finding tenants, etc.)

You never know where people want to live in this city-near relatives, favorite schools, etc.

Welcome! You will see that Baltimore is probably a whole different housing animal than Anchorage. (Lets not wvwn talk weather) You need to drive around and really get a feel for the streets.

Once you are here you can determine which part of Baltimore you want to look at-City or County? That also makes a difference!

Definitely attend the meet-ups so you can network and get yourself a trustworthy team. That is crucial.

Reach out with colleague requests. I have found that very valuable also for networking.

Best of luck! 

Jeff