Presenting to a property owner in Baltimore city in 21217 zip

Presenting to a property owner in Baltimore city in 21217 zip

Investor · Baltimore, MD · Member since 2015 · 71 posts · 24 votes
Hello everyone I just wanted to get some insight on a offer I'm about to pitch a homeowner 2000 blk of Pulaski ST Baltimore me 21217 The owner is interested in selling to me , she currently has a tenant but they are month to month so I'm assuming the house is livable since they have been there for so long but she's ready to get out the home. There is only one vacant house (boarded up) on the block it's a nice block (by west Baltimore standards) the home is owned free and clear the home is assessed with the state at 23k What I'm thinking of offering her is 11k to max 13k with the intent to wholesale the deal if the numbers and the condition of the property is decent Or 17.5 with terms to my llc. 5 years , 60 payments , 5% down and 3 % percent interest paid to the seller The monthly payment to the seller would be 423.73 And I would rent the property out and collecting the spread until the note is paid in full Does this sound like a good deal what would you tweak
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  • DHS/Investor · Bowie, MD · Member since 2015 · 149 posts · 65 votes
    10y
    Looks like a good deal to me, numbers seem reasonable... I'm also looking for houses in the Baltimore area!!
  • Ned CareyPro Member
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    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    10y

    If you are going to rent it out at all you need to make sure it has a lead certificate, you can contact MDE to check. You didn't mention how much the rent is.

    Just because someone is living there doesn't mean it is "Livable" So much of the price depends on the condition. The price is within the range of normal for that area. Whether is is a good deal or bad deal depends on the condition.

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