NW Baltimore Turnkey

[Tim Stuart]

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $155,000
Cash invested: $32,000

Located in NW Baltimore (Greenspring) this end unit 3 bedroom, 1 bathroom Rowhouse was completely remodeled as a TurnKey rental. I found this deal through @Oliver Fu @Norada and we just closed last week. It rents for just under the 1% rule, producing a 13% CoC return.

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

This turnkey investment lets me earn while I learn and affords me time to focus on my next deal.

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

@Norada recently partnered with a Turnkey provide in the Maryland market. My trusted advisor @Oliver Fu introduced me and we found this and 3 other properties through this provider.

How did you finance this deal?

Conventional

What was the outcome?

Another cash flowing turnkey property.

Lessons learned? Challenges?

State transfer tax of 2%, split by buyer and seller.

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

Special thanks to my trusted advisor, Oliver Fu and Norada Real Estate.

[Tim Stuart]

Originally posted by @Ozzy Sirimsi:

Originally posted by @Ian Barnes:

@Tim Stuart If you paid 155k and your getting less than 1550 a month, someone did a good job on taking advantage of you in Baltimore?????? That return is terrible for Baltimore, you can find the same thing on the MLS all day pretty much.

It seems like an advertisement of their system. Most of their posts are same.

Hey @ozzy sirimsi,

I am a full time firefighter here in California and used my equity to invest in 5 turnkey properties out of state, 4 in Baltimore. 

Real estate is not my primary profession. Please remember that BP is a forum where new investors come to learn about real estate investing from those with experience, such as yourself.

If you are going to leave feedback, I’d appreciate doing what @ian Barnes did and leave some objective feedback and not you opinion of whether or not this is an advertisement, because that is incorrect. 

If you want to continue this conversation in private, message me directly and we can have a constructive conversation over the phone.

Thanks for your understanding, I’m all ears to learn from everyone here at BP.

Tim