All Forum Posts by: Albert Ellis

Thank you for the response Will, I had been trying to use a hard money lender Longhorn Investments that require the deal be at 70% of the ARV or lower. I've found plenty of high profit deals that don't hit the mark of 70% or lower. It's starting to look like I should just go elsewhere as I'm having a hard time finding deals that hit that mark under the current market conditions without a level of complexity in a rehab that I'm not currently comfortable with.

I’ll try going the direct marketing route, thanks for the advice !

Hi, I'm trying to start a discussion on where flippers or rehabbers are able to get deals at 70% ARV consistently in their markets. What strategies are being utilized to attain higher margins ?

@Jason Shackleton Thanks, could you inbox me the lender? If 15% down is not feasible, that is not a deal breaker. 

Looking for a 30 year fixed rental loan or hard money loan for a single family property currently under contract in Baltimore at $74,200. Tenant is moving out at the end of July. Looking to put down no more than 15% if possible. 

@Tyrone Marson not sure if you have found a GC yet, but I’m looking for the same. Maybe we can compare notes or referrals if we find some outside of BP.

Looking to for a general contractor to help walkthrough and inspect 2-3 properties this weekend/next week in Baltimore city. I will pay for this service! The goal is to have another set of eyes that can assist in pointing out issues with the property prior to securing a property under contract and collecting contractor bids.

@James Tedrow I would think there are too many senators of both parties that likely benefit from the exchange to see it changed. That coupled with the fact that if Biden is elected he will be inheriting somewhat of a fragile economy and is going to want to encourage investment/transactions to stimulate the economy, instead of stifling it.

This is just a plan, and it will require senate approval. As with most bills, by the time it goes through the end of the congressional process things are changed quite a bit.

@Lamar Wint Unfortunately discussions of investing in Baltimore with with out of town investors usually involves the BiggerPockets community piling on.

I was in a similar boat as you on a flip in Chicago I had under contract, but I decided to let the deal die and get out once I found out the contractors I planned to use were shady and I didn’t know the market well enough. Like you, I’ve been on the sidelines a while accumulating knowledge and was ready to pounce once I saw a deal with what seemed like amazing numbers at the time after accumulating the Capital necessary to start investing.

I decided to settle on focusing on Baltimore since I know the market a lot more and it’s 45 minutes from where I live. Let’s connect, I’m also in the process of growing my team & getting a property under contract.

@John Warren Thank You for your reply. 

Property is located in  Englewood. 

SOW includes exterior: demo of front porch, roof repair, paint of exterior, exterior doors, windows, exterior lights, and possibly a deck built in the back of the building. 

Interior: replacement of lights, plumbing replaced with copper pipes, paint, hot water heater replacement, stairs/railings.  Kitchen to be renovated with new/upgraded flooring, cabinets, countertops, and sink. Two bathrooms to be replaced with new bath tubs/showers, vanities, toilets, and cabinets.