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Updated about 8 years ago,
Investor Groups In Baltimore
Hello All,
I purchased a 3-Unit Row Home in the Madison Park area of Baltimore a year ago on a 203K loan. Construction has gone horrible due to a contractor that underbid on the project on purpose. I have been trudging along getting it moving slowly but I am now expecting my first child and changes have to be made. Can anyone recommend an investor group that might consider purchasing the project from me for what I paid?
Appraisal was for 240k with comps of 400k. I paid 190K and invested 32k of my own money. I am simply seeking to pay off the loan and what I invested which would leave an investor with about 100K in equity and potential rents of $3300 a month.