All Forum Posts by: Julie Hassett
Julie Hassett has started 12 posts and replied 103 times.
Post: Conventional Finance in Baltimore City with a Canadian Income
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
@Roy N. - great suggestion. I'll let you know if that solves our issue. Thanks!
Post: Conventional Finance in Baltimore City with a Canadian Income
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Hello BP REI magicians!
Ran into a hitch on a partnership deal yesterday and looking to see how to skirt this issue.
We're attempting a straightforward conventional loan purchase on a triplex in Baltimore City.
My investing partner is an American citizen who lives Canada and is earning a Canadian income. He contacted my mortgage broker in Baltimore yesterday and was told that they can't count Canadian income as income.
Is this standard or am I just working with the wrong mortgage guy?
If you have any advice or any leads on someone who could handle this situation, that would be great! (I'm the other half of the partnership and in Baltimore earning an income in US dollars.)
Many thanks in advance!
- Julie
Post: Baltimore Flipping in Fells Point
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Shaniqua Dupree:
I have a feeling that if a property is not taken by another seasoned investor in a good area within a certain amount of time something is probably terribly wrong with the property.
As a newbie investor, I too ALWAYS experience that same feeling when a property languishes on the market and wonder how valid it is. Thanks for bringing that up!
Post: Monster 4 unit rehab in Baltimore City
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Totally inspired! I love hearing that even when things go WAY over budget and are more difficult than you ever thought they would be, that deals can still WORK in the long run. Thank you for sharing! What neighborhood is this in by the way? Mind sharing the rents you're collecting?
- Julie
Post: Baltimore Investors -- Best 'hoods/'burbs for multi-unit househacking for SWF
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Eric M.:
The two areas I find myself most drawn to are Reservoir Hill and Pigtown, both of which have already been mentioned. I know other investors like other areas, but I think those two areas are notable because properties can be acquired cheaply, but also resold or appraised for good value after renovations.
I realize this is an "artificial" boundary, but I tend not to want to invest west of Eutaw Street in Reservoir Hill. Seems like a very clear line of demarcation. Good luck!
Thanks, Eric! I've been so drawn to Hampden and Woodberry that I've overlooked Pigtown and Reservoir Hill. I appreciate the reminder.
Post: Baltimore Investors -- Best 'hoods/'burbs for multi-unit househacking for SWF
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Alex Khojainov:
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.
Wow, I've never once heard anyone mention "Ridgely's Delight"! Thanks for that. And I've heard of the "White L" (yeah, offensive), but never the butterfly reference. I like that better. Thanks, Alex!
Post: Help! I've fallen in love with a long-distance MFH! What's my next step?
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Ned Carey:
@Julie Hassett You've gotten some really good advice so far. I would add that Ben Frederick uses very optimistic numbers in his pro formas. He tends to get top dollar for the properties he lists. That is not the way I want to buy properties.
Great insight, Ned. Thank you!
Post: Thank you BP!!!! I've closed my 1st wholesale deal!
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Thank you so much for taking the time to share your experience here! You are a person who knows how to "JUST DO THE WORK". We're all rooting for you and your continued success!
Post: Help! I've fallen in love with a long-distance MFH! What's my next step?
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Srini Murthy:
I am curious what decision you made on the love-at-firstsight MF!!
Ha! Thanks for the follow-up, Srinivasa! The listing agent just delisted the property, so I'm having an agent I'm working with check in and get the scoop on it.
Meanwhile, I'm putting in an offer today on a Fannie Mae SFH in the same neighborhood. If it gets accepted, my sister (VA realtor) will head out there with the inspector and facetime me through the process.
Post: Help! I've fallen in love with a long-distance MFH! What's my next step?
- Rental Property Investor
- Glen Arm, MD
- Posts 105
- Votes 41
Originally posted by @Nancy Roth:
Do not make any kind of financial commitment to this property, not even with an inspection contingency. This is not an appropriate strategy for a first-time buyer who lives across the country, who is unfamiliar with the local real estate market, who plans to live in the property--and worst of all, who has never clapped eyes on it!
Thank you, Nancy! I'm taking your advice to heart! <3