Recent comments in /f/baltimore

DoNotWeepAtMyGrave t1_j9g37ki wrote

The problem for most of these is the location. You invest $100k and now own a property no one wants to live in. The ones in good locations sell for $50k, with much higher renovation costs. At that point, unless you’re an investor with a crew, it’s cheaper to buy an existing structure or a brand new build.

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DoNotWeepAtMyGrave t1_j9g2olh wrote

Yeah man. If it was that easy to make a 50% return, everyone would be doing it. Many of these projects either fail, or barely break even. Most would be thrilled at a 15-20% return. I don’t flip, I BRR (Buy, Rent, and Refinance) and I make higher profits but also have higher carrying costs. On most of my properties I make about a 10-15% rental return, but the properties increase in value over time as well.

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MotoSlashSix t1_j9fvnpg wrote

Our home was in that state in mid 2020 when the guy bought it, rehabbed it and sold it to us. It's a brand new house from the brick walls in. I think he put about $130,000-170,000 into it with everything he did. He had a crew who did everything. We have a dugout, finished basement, main floor and second floor. 3BR, 3.5 bath. Fenced back patio (concrete) with everything new to code. Tore off formstone, tuck pointed, the brick, added a 2-story addition onto the back of the home. Basically he did the classic East Bmore Flip that's happening on every street around us.

I will say he had a tougher time then because he was doing this during the pandemic while the housing market was insane. So getting appliances and materials was really difficult for him. He actually did everything right structurally and mechanically with better-than-contractor-grade finishing spec'd throughout. My father is an engineer and has been a home inspector for 30+ years and said this place is a lot better than most of the flips he's seen.

So, ours was probably on the upper end of that range. I'd guess $155-170k for the total renovation.

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rfg217phs t1_j9fsgs9 wrote

I mean the bus you still get an individual seat and there's usually luggage racks/storage. Yes the train is a little bit more comfortable but it's only a 3 hour ride. I've used Megabus, FlixBus, and OurBus and have had very few problems with any of them. Megabus is occasionally late showing up but I still usually arrive within 20 minutes of the anticipated time.

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maiios t1_j9frszc wrote

I travel between NYC and Baltimore pretty frequently, and go with the train when its a reasonable cost, and use OurBus when its not. OurBus seems to be about $30 each way, and its stop is a block from Penn Station, which beats a lot of the other buses that stop near the beltway. And the bus has never been crowded when I have taken it, which is usually Fridays/Sundays.

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