All Forum Posts by: Ian Barnes

I think everyone forgot about one inspection called occupancy inspection.  If your house hasn't been lived in for more than 6 months and is considered abandoned, you must have an occupancy inspection by the city after you pulled your permits of course.

Do you have to get a w9 from your real estate agent when they sell your property if its a flip?

Great city, if you want to buy some properties and do a nice rehab.  I buy in the nicer parts of C neighborhoods for 20K-30K, put 20K-30K in renovations, and rent to a solid voucher holder.  Don't buy near boardups, or blocks with alot of renters.  Also check out the murder map, and make sure there isn't a ton of crime in the immediate 1 or 2 blocks, certified lead free on everything, have a team on the ground that knows what they are doing, pull permits always if your going to do work, get good insurance.

Inventory is low in Maryland especially since more part time rehabbers are able to afford to flip houses in Baltimore County.  DC is even worse, most townhomes that are listed that need to be rehabbed get between 30-40 offers.  If your a good wholesaler, you can make a fortune in DC.  

Who isn't looking for 40+ residential properties in Baltimore?  Hint, there aren't that many 40+ buildings and tons of demand.

Just an update to this post,  I've bought a bunch of properties since in the city and am doing well. I have my first Dundalk property under contract and will explore more in than area in the future.

Just because a property in Baltimore costs less than 20K, doesn't mean its good as a turnkey property.  Typically a house under 20k is in terrible shape, and needs at least 30k-40K to make it livable and in good shape.  We don't do turnkey, but we do work with out of state investors who have us find properties for them and oversee the GC/rehab of the property.

Once you pass as occupancy inspection for properties the city considers "abandoned", you have 10 business days to register your property, fee is 30 dollars per year.  If your property is not abandoned, you have 10 days from closing to register.  If not done, you will be hit with a $500 dollar fine.

If your grass or any weed on your property is more than 7 inches high, you will get fined by the city.  Moral of the story, cut your grass in Baltimore City.

Jamal, sounds better that you have a team in place, but it still won't be easy, cause its a big project, good luck!