All Forum Posts by: Nick Harrington

Again, like I mentioned, it depends on the neighborhood, if it was a $80k 2 unit property in Reservoir Hill in good condition that cash flowed for $327/month, I just might do it but I would cut costs such as managing it yourself and cut the grass yourself.

If it was a $80k for a 2 unit in Druid Heights (just an example) that cash flowed for $327/month, I would walk away because nothing in Druid Heights is worth $80k.

I'm not going to go into details but I just personally think there are plenty of better deals to be had in Baltimore but if you think it's a good deal and the numbers works for you, then so be it.

I wasn't quite finished in my post.

Are you able to get rent rolls for the tenants to show they have been paying rent on time? If they don't pay rent for a single month, you're going to be out of pocket for a few hundred bucks a month.

With that little cash flow, if you need a new roof, your profits for a year would be wiped out, if you need a new boiler, 2 years of profits, and so on. Have you been able to inspect all of the mechanical and electric to see if they are newer?

I'm with Charles, I would need to know the address or at least the block. I would not buy a house in Baltimore for $80k that cash flows only $327 a month, there is so many much better deals to be had. I would not even consider something in Baltimore that cash flowed only $327 a month.

It sounds like you have some real cash to put down so you can probably do an all cash deal on another property and get the same or more cash flow per month. I know of quite a few off-market deals that would give you better cash flow/month.

Nope, I was only able to find tax information which I already know, not the price paid for the house.

Hey all, simple question, in Baltimore City, how can I find out what the price paid for a house by the owner is. I have a potential deal but before I make an offer I would like to get more information on the house and its history.

I've tried Zillow but the information seems incorrect and jumbled.

Where did you get the vinyl (maybe aluminum?) covering that goes on the ceiling of your porch? It is in the picture under "New Deck." I am looking for the same item and I cannot find them anywhere.

House looks great and the view is even better!

My apologizes, when I first saw your post, it was blank and there was only a subject line. Sounds like you have a great motivator to get started in REI. Good luck!

Huh

Kids would likely come after the property after his death, claiming all kinds of things, it could get really ugly. One scenario would be the kids claiming the father wasn't of "sound mind" when he gave the property to the OP. There is too many things involved that can easily go unproven in court and the OP being good friends with the owner probably wouldn't be a good enough reason in the eyes of the courts if the kids sues.

Definitely get an good attorney and get it done right. I think something like doing a joint deed with survivorship would be the likely approach but your attorney will know.