All Forum Posts by: Kal Wol

 Thanks a lot @Doug Smith all things you mentioned makes sense. I have gone through that process in the past twice for my properties and providing documentation the lender is asking is not a problem for me either. It is the timing that takes longer like weeks to get it that I am not comfortable with specially for something interesting coming my way and wanted to put offer immediately. 

I have seen some online tools that claim to provide the pre-approval immediately like rocket mortgage and others, but was not sure jump on it immediately without doing some due deligence 

 Yes Sir!

 Thanks @Sara Frank yeah, I am looking in Montgomery as well it is a bit competitive in MOCO than in Baltimore.

@Martin Smith I live in Germantown Maryland and I wanted to invest in state or neighboring VA or DC to stay close home as I am starting this journey out.

So Baltimore houses have low entry with high risk. And I am trying to find out if I can get the best area in Baltimore it will solve my problem of low entry and better risk as compared to unknown areas that I don't have visibility.

Also, I am showing lots of interest in Baltimore, and also in some part of DC, and am thinking in a couple of years from now, it might be a good investment opportunity. So these are the driving factors that I am looking into it.

Thanks a lot @Kyle Deutschmann for the great input.

Hello awesome BPs

I am trying to have a pre-approval letter prepared as quick as possible as it is a requirement for the offer, that is what I have been told. Looking around redfin have lending product and they can make it faster on such cases, anyone who have used them in the past and how was it?

With the big banks, I think it might take a bit longer time and I am wondering if there is any other way to put the offer. I have suggested a bit higher Earnest money but I doubt if the seller would like that idea. I should not have any problem getting the letter, it is just I wanted it faster.

Thank you all.

Very valuable information from all of you. I have taken a tour this weekend just to get the feel of it. Apparently there was some running event going on and was a bit of fun. 

I have been driving around the canton area where a whole lot of row houses are available. Most of them are from the 1904-15 ish but they seem to be in a good shape. The older pipes mentioned in the answer makes more sense. I like the area is near the water and clean, hopefully these things might attract good tenant.

The other valuable insight I see is regarding the insurance. I am thinking to have row house in canton and insurance shall be taken into consideration and if it is high, and make sense, it might eat the slim cash flow and even would make it negative.

Anyone having any issue having those row houses? Like maintenance, regulation issues does it require to have permit for internal re-modelling?

Thanks sir, Yes I have been a couple of times in Baltimore but haven't lived in there. I have seen only the shiny things like the aquarium and stuff. 

Thanks for the great insight. Well there must be reason as to why some of the houses are cheap. But was wondering if there are some places with modest rent investment. Based on what you are telling me, it might be a bit tricky to find one. 

Baltimore looks nice and homes are somehow affordable the way I see it. But I am not sure what area of Baltimore is good for long hold for rental properties. Any content on that part would be very helpful.

Also what else do you think the investor should know regarding tax, legal and things related to the tenant in the great city of Baltimore. It seems most of the homes are older and wondering what insurance policies would look like also

So if someone can shade some light on these and general Baltimore related investment, that would be great. 

Are you renting condo or town/house? My answer will depend on what type of property it is.

In general, a month is lots of gap for the fix. I say work with the tenant and provide alternative. They might not go to the court for something that is less than 200 or so, I guess. But the thing is, they have your property and they will rage on it and you will have a bad property when they leave.

Also, put yourself in their shoes, if they were renting from apartment, it won't take that long, why should they tolerate when it is from you? At the end of the day, they are paying. 

Probably if it is taking 3-4 weeks for part, it might be old appliance and better change it sooner as it will pop up with another issue. 

 Thanks a lot @joaqu so you are referring to have all the rooms furnished with bed and stuff and renting them out? Usually for how long would the rents would be going, like months? 
Also do you know which areas have done great for you?