All Forum Posts by: Sandy Tan

Quote from @Matthew Paul:

On the other angle , Baltimore has the highest property taxes in the state , the highest crime in the state , high water bills , higher insurance rates , lower appreciation than surrounding counties . And the lowest performing public schools in the state . 

My  best view of Baltimore is in my rear view mirror .  ( I grew up in Balto , and go into the city 2 to 3 times a week , I invest in the counties for the above reasons )

Thank you for your feedbacks! What are the surrounding counties you were referring to? I want like to do more research and not just limit myself to Baltimore. 

Thank you jack!

how much is the rental license in Baltimore city and Baltimore county? I believe I also have to pay the land owner a fee every year right? 
Quote from @Jack Seiden:

Quote from @Sandy Tan:

First time investor looking for… basically everything about baltimore. Currently living in New York city. My budget is 250k. What areas in Baltimore are better for first time investor? Do you need rental license to rent out? Are there any Baltimore realtors that would like to connect? Looking to buy in summer with 20% down Thank you! 

 250k should buy a pretty decent property in a nice area like canton, at 300k+ you could be in federal hill or Hampden, you do need a  Rental license, I’d expect about a break even with 20% down in Baltimore.

Thank you Joe!!

what is the monthly rent around fed hill and canton for two/three bedrooms? Trying to do some calculations. I am looking up the house around these two neighborhoods, it doesn’t seem a lot of inventories that are less than 250k. I’d like to connect with you soon!! 

Quote from @Joe Norman:

$250k will get you a decent house in an A class neighborhood (Canton, Fed Hill, etc)or a fully renovated home in a B class neighborhood like Northwood or Dundalk (probably would pay a little less). 

Rental licenses are required in both Baltimore City and Baltimore County (completely separate jurisdictions as Baltimore City is an Independent City) but are fairly easy to get.

Happy to connect and talk more! I run both a sales team (The Norman Home Team of Keller Williams Gateway) and a separate property management company (Blue Door Residential Property Management).

First time investor looking for… basically everything about baltimore. Currently living in New York city. My budget is 250k. What areas in Baltimore are better for first time investor? Do you need rental license to rent out? Are there any Baltimore realtors that would like to connect? Looking to buy in summer with 20% down Thank you! 

Am I in a good finance position to buy a rental property? My husband and I are thinking to purchase our first rental property upstate ny for about $200k so we can have another source of passive income. Here is our numbers so far. Are we putting ourselves in risk if we purchase another house for investment now or should we wait until we get more cash on hand? 

$210k cash 

$700k house loan - in nyc $5k/month

$50k car loan -$900/month, purchased the car last July

$240k combined annual income 

We save around $2k a month after all the payments and expenses

Three kids, have to hire PM if we buy a rental property. 

Good credit 800+

Unknown factors:

Property taxes on rental property 

Months fees including maintenance, fix-ups, property management fees etc. 

tenting laws in nys 

we will only put 20% down, not sure if we can afford to have another credit line  at the moment with the numbers above or if I missed anything. Would like to hear from your experience if we should just go ahead or wait a little longer. 

Quote from @Tim Delaney:

Quote from @Sandy Tan:

Thank you for replying! Really appreciate your comments and thoughts! In what price range do you think is more reasonable for multi family home in Buffalo? I am not limited to $150k. And of course, I expect higher price for better neighborhoods and better cash flow. 

I would agree with Matt on the single families in that area, I have a great single family in Eggertsville not far from South Campus, but also convenient to North Campus. My tenants are an international doctoral candidate and her spouse so they plan stay in the house for awhile. That house is around $190-200K, but there are others not far that could be closer to the $150s. I know you said you know the area from when you went to school here 10 years ago, but be sure you understand the neighborhoods. They can go from mild to wild around South Campus.

Hi Tim, do you mind letting me what the rental income is for a single house around $200k in Eggertsville? I have been thinking about multi families because it can be rented out by rooms. Single family sounds less riskier and easier to maintain, which are the advantages, than south campus.. 

I just looked her up and followed her Instagram for more educational posts. Thank you!

Thank you for replying! Really appreciate your comments and thoughts! In what price range do you think is more reasonable for multi family home in Buffalo? I am not limited to $150k. And of course, I expect higher price for better neighborhoods and better cash flow. 

i live in nyc and looking to buy my first rental property in Buffalo. Can anyone here in BP give me advices about the current market in Buffalo, including local property management, taxes?  I picked Buffalo because I went there for school. That was ten years ago and abviouly I am a bit disconnected with Buffalo now. Looking to buy a multi families property around $150k in august (7months from now)and hopefully to get more information before purchase. I had lived in Amherst and south campus UB around Main st. These are on top of my list now as I know those location better. I am open to other locations in Buffalo area as well.

Currently employed, with saving and one mortage in nyc.