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Updated about 1 year ago on . Most recent reply
My newest house hack in Baltimore City, Maryland!
Investment Info:
Single-family residence buy & hold investment.
My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..
What made you interested in investing in this type of deal?
#iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.
How did you find this deal and how did you negotiate it?
Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater
How did you finance this deal?
Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)
How did you add value to the deal?
Working on it as we speak
What was the outcome?
Hopefully positive.. fingers crossed!
Lessons learned? Challenges?
Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.
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#2 Buying & Selling Real Estate Contributor
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Quote from @Kyle Deutschmann:
Investment Info:
Single-family residence buy & hold investment.
My newest house hack in Baltimore City, Maryland! This time in Canton! Details to come..
What made you interested in investing in this type of deal?
#iBelieveInBaltimore - but seriously, I think Baltimore is ripe to finally 'pop'.
How did you find this deal and how did you negotiate it?
Off the MLS. Sat for months while interest rates went up. I put an offer in right around the time interest rates peaked at 8%. What an awesome time to buy! Zero competition, price drop, biggest seller credit I've ever negotiated to cover all my closing costs plus $5k in repairs. And now rates are almost 1.5% lower already! #buynowrefilater
How did you finance this deal?
Good old conventional financing - low interest, low rates! (well as low as you can go these days without a bunch of points upfront)
How did you add value to the deal?
Working on it as we speak
What was the outcome?
Hopefully positive.. fingers crossed!
Lessons learned? Challenges?
Challenges: buying a house at the same time as a needy puppy can be challenging and time consuming.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with a great realtor, lender, insurance broker, awesome title company rep, great inspector, handyman, and contractor. All around all-star team. Not the cheapest, but as with anything... price is what you pay, value is what you get.
Forgot to mention the most important part a detached home in Canton! One of only 5 sold in the last years!