First rehab aa county MD

[Keith C.]

I’m considering putting the pursuit of my first rental purchase on the back burner.

I feel I might have a BRRR opportunity with hopefully less risk (meaning without the Buy)

My folks have a fairly neglected property in Arnold MD that they’re willing to let me renovate and rent to recoup my cost. Then perhaps sell down the road and perhaps split profit or refi...

It’s a home from ‘84 bought for 90k. Near AACC

I won’t be doing the work; that’s about all I do know at this point...

Does this endeavor even make sense (what else might I consider)

How do I start? Should I do all of the project through one GC? Any recommendations?

Should I pay cash? Heloc, etc?

I know there is mold issues among other probs, would the person doing the estimate give me fair feedback as far as if it’s a complete tear down vs a rehab?

Thanks in advance for any feedback!

I feel this could be a good learning opportunity and hopefully a win-win for myself and my folks.

[Matthew Paul]

Tear downs are expensive in AA county . The new administration is cutting no slack . You are in a desirable school district , Broadneck is right up there with Severna Park . If you are on well and septic it makes it a bit harder , but a lot  of Arnold is city water and sewer . If its a single family , its basically worth $200 to $250K  as is just for the lot and the fact there is a building on it .