All Forum Posts by: Kristen Mathias

@Andrew Angerer Thanks. Yes thats the plan. The roomies rents will cover the rent! I'm beginning grad program at JHU Hospital so probably nothing for the next two years, yet after that Im hoping to have this place manager by a PM and then future is open, but Always looking for deals and creative investments!  

Investment Info:

Single-family residence buy & hold investment.

I am a Nursing student at JHU and chose to purchase this place to live in w/ roommates & hold onto after I'm done.

Corner row home in Butchers Hill that is walking distance to Patterson Park & Johns Hopkins Hospital. Previously renovated in 2012 as a part of the "Vacants to Value" program. 1600 finished sq feet on 3 levels of modern living. Kitchen has upgraded appliances and granite countertops. Hardwood floors cover the first and second floors. Finished basement.

@Jignesh Patel, my recommendation is to visit baltimore if you have not. Baltimore is extremely varied , street by street, more than any other city I have been to. I would find a real estate agent and schedule to do a few days of cruising neighborhoods and touring homes. You really have to physically be there to have a real idea of the house and the neighborhoods. picture or google earth can't give this to you. 
My second recommendation is to look into the city plans and projects to see which neighborhoods and seeing a lot of remodeling and development and to call agents and other invests and get their opinions. There are many different grants and credits available in Baltimore depending on what you are looking at doing, so I would recommend taking some time to really do research and physically step food in some of the areas. 

Baltimore city's tax rate is very high. You have to consider this when doing your numbers because it WILL make a very big difference. it will knock your numbers down significantly. I do not mean to deter you, just want to stress that the taxes of 2.4% of the properties value need to be considered when looking at the numbers. 

ALSO, houses and neighborhoods will differ greatly from block to block!  

This being said, there is a lot of opportunity if you find the right place, and are well educated. There are many different options to qualify for grant for renovations, tax credits or others like LNYW which makes properties attractive when selling. There are oppertunities for various tenant pools, professionals, students, etc. Just do your research!

@Jonathan Tavarez may I ask which property management company you use and what your experience and rate are with them?

I appreciate you making this post. I am looking at doing the same thing and am looking at a place this is off Orleans street, about 4 blocks down from the hospital. Would love to connect and see what you decided. 

Im getting ready to pull the trigger, just have some concern about the safety and how hard it will be to find renters, roommates. 

I have been to this area and definitely seems like a good long term investment, and like @Ned Carey said, I felt a little more comfortable on the larger streets then the allies in this area for now. 

@Yannik C- V. Thank you.

@Ozzy Sirimsi hey thanks for your comment.

I am going to JHU on the medical campus. Looking at places in Patterson park/ Orleans Street or upper fells. I am interested in finding a place that is 3-4 bedrooms or 2-3 with a finished basement and preferable 2-4 bathrooms. I am looking to pay $150-190000 but preferable on the lower end.

Thanks.

Also on another note. Do you happen to know the avaerage closing costs in Baltimore? Thanks.

@Ned Carey thanks for all your help.

I am looking into buying a place in Baltimore city. I am looking at places between 150-190000. I have gotten a little bit of mixed info about what the average closing costs would be. Does anyone have any experience or info about what exactly costs look like in Baltimore City?