All Forum Posts by: Nick H.
Nick H. has started 3 posts and replied 53 times.
Post: East Baltimore Vs West Baltimore
- Baltimore, MD
- Posts 58
- Votes 17
the propert is by John Hopkins in between the YMCA on 33rd and the Giant on the 700 block. The area near coppin is on the 3100 block of Windsor Ave @Ned Carey... 21218 is not east Baltimore that's west Baltimore too ?
Post: Lower income neighborhoods and investment properties
- Baltimore, MD
- Posts 58
- Votes 17
I'm a new investor as well, but there are people cash flowing over 50k a month with lower cost rentals. In Baltimore there is a lot of the low cost housing stock. It is a niche that you have to feel comfortable playing in, but can be profitable if done right.
Post: East Baltimore Vs West Baltimore
- Baltimore, MD
- Posts 58
- Votes 17
@Laticia Braxton I'm in owings Mills so the west Baltimore property would be closer to home and easier to get to from work to mange the Rehab.... I got an appraiser to come out to the property in west Baltimore and he said 170k (honestly skeptical about it but I'll take it) he is coming out next Saturday to appraise the east Baltimore property which I'm guessing would appraise around 130/140K
Post: East Baltimore Vs West Baltimore
- Baltimore, MD
- Posts 58
- Votes 17
Thank you very much that is very helpful to know east vs west doesn't matter much thank you.
Originally posted by @Ian Barnes:
It really doesn't matter East vs West, there are thousand of people with vouchers. The problem right now is they aren't issuing new vouchers, the only people looking for properties are moving from one house to another, and thus people are being much pickier and demand nicer places. Most voucher tenants don't base where they live on where in the city the house is located, they base their decision on the size of the house and how close it is to family and friends.
Post: East Baltimore Vs West Baltimore
- Baltimore, MD
- Posts 58
- Votes 17
I have two BRRR deals on the table. Two houses they are both 4 bed room houses about 1450 Sqft a peice one is in west Baltimore close to gwyns falls and coppin state the other is in East Baltimore close to Johns Hopkins School, YMCA and Giant. I can purchase only one. The west Baltimore property acquisition price is 37k and the East Baltimore house is 40K both will need 30K thousand in repairs. (The house in West Baltimore we may be able to drive the price down more because of a piping issue that is already factored in the repair cost.) I wanted to know which area would be best for attracting tenants and I have heard about Johns Hopkins spending development dollars and wondered if that is something I should consider in making my decision ? I would like to go section8 for my tenants.
Post: Pending Move to South Florida
- Baltimore, MD
- Posts 58
- Votes 17
@Chidi Nwadike If 2% rule doesn't exist might down there might be worth a vist to your family in MOCO and taking some time to check it out. I'll would try to house hack I'll look into east Hollywood thanks for the heads up!
Post: Pending Move to South Florida
- Baltimore, MD
- Posts 58
- Votes 17
Originally posted by @David Fernandez:
Hi @Nick H., I'm actually traveling the other way. I'm moving from South Florida, to DMV area and I already started investing in Baltimore.
If you are looking for CF, you won't find anything similar to what you have in Baltimore. Nothing. If you are looking to flip, you can do something here, but the market is too expensive right now and starting to weaken in some areas/types of properties.
If you know Baltimore, have a team there or can build one while you are still there, I would rather invest there for CF. At the same time, learn the Miami market, because when the next correction happens, you'll know what and where to buy. You'll find then opportunities for both CF and future appreciation (something that some areas in Baltimore lack).
Good luck with the move and happy investing!
Post: Pending Move to South Florida
- Baltimore, MD
- Posts 58
- Votes 17
I understand your point. Since your in the DMV from what I've seen the Miami area is similar to the DC area probably overpriced at the moment, but with more upside than Baltimore. I believe that I will focus on building a team here and spend time between the two areas do my homework on SF and wait in till the next correction. Your comment is appreciated thanks!
Post: Pending Move to South Florida
- Baltimore, MD
- Posts 58
- Votes 17
Originally posted by @Lucas Machado:
Welcome @Nick H.! The two biggest and closest REIAs for you will be BREIA (breia.com) and DREIA (dreia.org). There are many many other smaller networking groups/meetups as well. Hope to see you at one of the meetings!
I will look into both and same here!
Post: Pending Move to South Florida
- Baltimore, MD
- Posts 58
- Votes 17
Originally posted by @Sebastian Wernicke:
Hey Nick! Welcome to BP! And future welcome to Hollywood, Florida!! If your plan is to buy and hold, then you should have a team in place in Baltimore before moving here, so you can go on buying and renting out there. Nothing will beat those Cap Rates here in Hollywood or the greater Miami area. You could get creative with other action plans here... Send me a PM if you come to Hollywood and let's get together to pick our brains.
Will do! Thank in adavance might have to keep investing up here you guys are a lot more competitive. Appreciate the info