All Forum Posts by: Account Closed

Without I doubt I require it.  Any liability such as the place not being liveable because it flooded from a burst pipe (this happened to me) will be covered by the tenants' insurance.  Any costs because of that flood such as furniture damaged can be covered by the tenants' insurance.  Reduces your claim history with your own insurance company.

@J Scott Thanks for math rundown. I actually have those calculations in an excel spreadsheet I made. 16% CoC is what I have to shoot for. Up til now the best I have ever done is 10.5%. But maybe the goal to do 16% will be my motivation to look harder.

@Travis Paez Yes, I definitely think about doing those. The couple I've seen in Baltimore had pretty poor CoC returns. Just have to keep looking I guess.

One of these days the @ thing will work for me.

@David Krulac @J Scott: Yes, I'm from Maryland and own 9 rentals, mostly around Odenton and Crofton. And one up by Perry Hall. My best cash flow is about $650 from that one in Perry Hall. So do you call cash flow the rent minus PITI and HOA fees, etc? That's how I define it. I've seen a few properties that pull $800 at most but didn't know the areas well enough to go after them. Laurel is hot and one came up that was $800 CF and had 4 offers on it in a day or two. So I guess they're out there but it's been a bit discouraging lately. I might try the Dundalk area also. My properties thus far have been in very good school districts and I think I have to venture out of those areas to get better deals and returns. Also, I have 9 mortgages so can only take one more before I have to go commercial. Guess that's what I'll do.

Seems we're in similar situations.  I have about the same amount as you and really want to retire!  Whew!  I'm almost 56 so will try real hard this year to make a decent purchase.  I'm probably looking to CF around $2000 if that's possible.  The Detroit market sounds good but it's long distance and what about 'knowing your market'?  Plus you always hear about the economic difficulties the city faces.  But guess that's how deals are born.  

Yeah basically the husband is out.  No idea where he's going.  

That's more like it, thanks...

I must be missing something.  I typed in 'Baltimore Multifamily' in the search bar and only came up with one post in the forums area.  I believe there should be more than that.  Seems I've done that before and got a lot of posts that came up.

Good idea.  I will at least notify them of what I'm doing.  Actually this property is in Albuquerque, NM.  I have 2 there.  Maryland would probably be more difficult.

Actually just found out that since they abandoned the house, for the most part, then I can just take it over and can enter w/o any recourse.  Don't have to continue with the eviction process.  Just have to hold whatever belongings are in there for 30 days.  If they aren't claimed then they're mine.