Closed on Final (4 of 4) SFR in Baltimore

[Tim Stuart]

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $148,000
Cash invested: $30,000

Finally closed on our last 4 pack of SFR in Baltimore. This is a 3 bedroom, 1 bath Turnkey Rowhouse in Baltimore located just south the the VA in the north part of the city. This house was completely renovated with a new roof down to the mechanicals in the basement and rents for just under the 1% ratio.

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

TurnKey investing allows me to maintain my focus on my family and my W-2 job so I can use my time investing and not managing properties.

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

@Oliver Fu is my trusted advisor @Norada.

How did you finance this deal?

Conventional

How did you add value to the deal?

The appraisal came back under the contract price and because I was purchasing 4 properties at the same time, the seller agreed to drop the purchase price.

What was the outcome?

Our 5th turnkey rental.

Lessons learned? Challenges?

It's difficult to compare comps when the house I was in contract with was a full gut and remodel. I think that is why the appraisal came in lower than expected. Either way, its a well-done remodel and has a cash flowing tenant.

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

@ Oliver Fu @ Norada. I highly recommend using @Oliver Fu as an advisor. As a new investor, he walked me through the process and pointed me in the right direction.