Baltimore flip in Brooklyn Park (anne arundel county)

[Jonathan Tavarez]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $135,000
Cash invested: $50,000
Sale price: $245,000

Baltimore flip in Brooklyn Park (anne arundel county)

What made you interested in investing in this type of deal?

I love the Brooklyn Park area in Baltimore, there are some good houses for rehabs and competitive prices. I also believe the area will increase in price in the next few years with all the developments going around in the area and investor activity.

How did you find this deal and how did you negotiate it?

The deal was a Hubzu foreclosure, it took some negotiation because of the amount of offers but not too complicated.

How did you finance this deal?

Investor and hard money

How did you add value to the deal?

We finished the basement, added a second bathroom, new AC, new water heater, garden work among other things.

What was the outcome?

We made some money

Lessons learned? Challenges?

I was trying my same crew but added an investor/contractor to the mix as a test run to move in to more complicated deals. There was some communication issues and I think the renovation contract needed to be more specific since usually I run things with my vision but this time instructions were coming from 2 different directions and so at some point we found ourselves debating on things that should have been resolved at the beginning with original contract.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have lenders, contractors and agents that I can recommend, please reach out if you would like more information