All Forum Posts by: Zachary Miller

@Account Closed I did exactly what you are hoping to do in Baltimore City as well. I wanted to live in Federal Hill/Riverside and couldn't find any multi-families that fit what I was looking for so I got a 2-bedroom single family. I house hacked it for 2 years and recently moved out (and rented the entire place). 

As a house hack, it was amazing. I didn't want to live by myself anyway so it was nice to have the additional income coming in. As a rental it is doing fine, but not great. After all expenses are considered it cash flows < $100/month (and this was with 20% down and a 3.5% mortgage). 

With that being said, most here on BP will tell you that it is tough to cash flow in Federal Hill. To compound that, I picked a house that I really enjoyed living in rather than picking a house for potential rental income. I am not saying that is a mistake, but it is something that you should consider when looking around. Looking around at the homes in Federal Hill today, I do believe that had a picked a house on rental potential I could have $500-600/month cash flow. 

I hope that helps!

Thanks all! I am looking forward to learning more about you all and hopefully working together in the future. 

@Eric G. 

Thank you so much for the recommendation. I hope to call the zoning office today and do a bit more research into the process itself. Based off of what I find out I may be reaching out to you for Justin's contact info. Thanks again

Hi Ryan, I would be interested in both single family and multi family if the numbers worked out.

Hi all! 

Does anyone here have any experience with the multifamily conversion process in Baltimore City? Specifically, I am interested in learning how to check the zoning records of a house to see if a multifamily property is properly zoned?

Backstory: I came across a home for sale that I believe has potential to cash flow very nicely. The house which was at one time a single family has been converted to 2 units and a garage/carriage house has been built that is essentially another unit. The owner told me that the house was "grandfathered as a two unit" but:

1) I don't know exactly what he even means by that and

2) I wouldn't trust him (since I don't know him at all) even if I knew what he meant

Looking online I found that the house is zoned as "R-7" which under current zoning regulations allows for multifamily conversions with a number of requirements (minimum unit size, parking, etc.) that this property doesn't currently have. Any suggestions about how to best go about my due diligence in looking at this deal?

Hi everyone!

My name is Zach, I am a computer programmer in Baltimore, MD.  I was born and raised in MD and attended the University of Maryland (go Terps!).  

I currently have a single family rental in Federal Hill. That house was a house hack where I eventually rented out the entire place. I am currently looking to acquire more buy and hold rentals in Baltimore city as well as considering locations in the county if the numbers make sense. I am looking forward to meeting everyone and learning more from working with you all!

In case anyone here has missed it, as of today (August 1st) a new law went into effect with a new registration requirement for rental units in Baltimore City. This law requires home inspections of all rental units in the city by the end of the year. This is an ongoing requirement with the inspection having to be done every 1-3 years with the term of the inspection being determined based upon history of violations. 

You can find out more about this here: http://www.baltimorehousing.org/property_registration 

Just a quick note: the two areas are right next to each other and where one ends and the other begins is somewhat blurred. Locust Point has a decent demand for class A rentals as it is the home of Under Armour HQ and Federal Hill is a popular spot for young college grads to live and has similar demand. It is important to note that many people here aren't a huge fan of the area due to higher prices and lower returns vs some other areas of Baltimore, but in my case since I was living in the house for a while, I was willing to sacrifice some returns to feel safe and love the area.

FWIW, I moved out and the house rented out cash flows pretty nicely. 

@Emily Howlett Federal Hill and Locust Point would definitely be a class A area. Its a nice area with lots of great dining, stores, etc. all within walking distance.

I would recommend checking out the Federal Hill/Locust Point area of Baltimore. I have had success doing "house hacking" with roommates there and have seen a couple of good deals on small multi-units pop up every now and then. If it is in your budget and you like the area, I would aim to get a 3 BR there, the cost between a 2 and 3 bedroom there is pretty negligible, but the rental difference is significant. I have a 2 BR and when I had a roommate, they covered the mortgage (PI) leaving me to cover taxes and insurance. 

As for the distance to Ft Meade. Its about 20 minutes away and I hardly hit any traffic so its a nice commute.