All Forum Posts by: Lior Solomon

@J Scott I'm looking for cash flow and long term appreciation.

I really like this neighborhood and thought it would be great for students rental.

I'll keep on looking since the numbers doesn't add up. The one I found won't work unless I would like to create another unit out of it to go over the 50% rule.

Thanks guys

Lior

Thanks @Matt Rothwell

I thought it will make sense to lease it for one of the tenants and let him sub lease it to the others. From what I gathered on the forum it seems to be a standard approach when renting to students.

I think the only way to make this a good deal is to turn the basement to another unit with it's own bathroom and kitchen and rent it for another $1K then it will survive the 50% rule.

Thanks again!

Lior

Hi guys,

I would like to put my first offer on a deal I found in Charles Village, Baltimore, MD and I would like to get your thoughts about it.

It's a SF located 2 blocks from John Hopkins University and 1 blocks from Med start union memorial hospital.

It's a 4 BR 1 BA 1,620 sqft property. $5K tax per year.

The seller is asking around $250K for the property. It's in a move in condition.

My concerns are:

Renting it as a single family will provide around 1.5K a month, which isn't great (I think), it seems I can get a higher cap rate in other neighborhoods. But, if I rent it to students (which is definitely the market) for ~$600-$700 a room this will turn this to a much more interesting deal.

I am also looking into finishing the basement and maybe renting it as well(for another $1000), but that might require zoning the property to a MF.

Thanks in advance!

Lior

@Ned Carey I got this from quicken loans. They told me it will have to be under my name since it's my first investment property but I can title it under LLC which is what I'm planning to do.

I don't know if it matters, but I'm a returning customer so they might suggest so special rates for returning customers.

I hope this helps.

Lior

I also got 5.125% for 30 years fixed for a multifamily with 3-4 units

for a multi family with 1-2 units it went down to 4.925%

The rates are for Baltimore MD

I hope that helps

I'm also looking into multifamily in Baltimore and the one I find are a little above my budget.

I'm considering buying a single family and turning it to a multifamily. I wonder if anyone can share his experience of zoning a property to a multifamily in Baltimore?

I just realized that the rates you'll get from the bank for a 1-2 units property are less expensive then a 3-4 unit multi family. so that might also motivate me to start with a single family and turn it later on to a MF.

Hi Steven,

I am a non resident alien. I'm under L1a visa.

Thanks,

Lior

Thanks @Steven Hamilton II this is so helpful.

I wonder if this regulation works for non-U.S. citizens.

I will consult with my accountant about this and get back with the info to share with everyone.

Thanks again for the help.

Lior

Thanks @Dave Toelkes I will open a new thread for this.

Hey guys,

I'm not sure rather I should open up a new thread for this or keep it here, what about inheritance of a property abroad?

We sold the property and brought the money back to the US. what would be the best way to minimize the tax?

Thanks in advance,

Lior