All Forum Posts by: Ashley Taylor

I have the ability to purchase 4 acres of land in MD FOR 125k. My plan is to subdivide the land into 3 plots and build 3 single family homes. I am confused on how I should finance this. Normally I’ve done flips with hard money. Should I try to get a hard money loan for the price of the land and construction or should I buy the land cash. Then take out some sort of land equity loan or something of that sort? ( info on this process is also appreciated ) I’m concerned that I wouldn’t  be able to get the land equity loan because there used to be a house on the property but it recently burned down and they may not assess the land for more than the 125 I paid for it.  So it seems like my Best option is to buy cash and get all my permits then try to get a construction loan. This is my first time building a home so I am hiring an experienced builder, but im concerned with having to jump through too many hoops because im not an experienced builder. 

Please provide any tips or help. I would be doing this in PG county MD. 

Thanks

I have a property in DC. I have to dig down in basement do some underpinning which will require permits. Any recommendations on architects with connections to expedite the permitting process? Please provide any recommendations or feedback about ways to expedite the permitting process in DC. The timeline would completely tank my flip having to hold it for months waiting for permits. 

Any advice would be helpful. 

I flip in DC and MD. Is there anyway I can cut my closing cost? Like maybe work with the same title company? Or any investor friendly title companies out there? Here are my number for my last flip are these reasonable? It takes from my profit so I’m curious if I’m doing something wrong or is this just the way it is.  I flipped a house that I bought for 240k rehab was 40k purchase closing fees were 16k. I sold the house for 351k the closing cost fees were 21k. 

I look forward to any feedback. 

If I purchase a multifamily property with HML, renovate it, rent to section 8 tenants, can I refinance the deal? Are there any stipulations because I used section 8 tenants? Also, if I was to sell the property instead of refinancing, are there any issues or stipulations if all tenants are section 8?

@Jason Shackleton  So, do you think it is possible to master lease the property then renovate  then buy with portfolio loan after all renovations are complete( I would be converting from vacant office space to 10 residential units? OR buy with hard money, renovate, rent out, then refinance into loan?  I guess my question would also be what makes it so challenging?

So, if you know anything about the DC area its completive and extremely hard to break into. I've identified an off market property in Maryland.

3 properties in portfolio : zoned mixed use: #1 4500sqft ( vacant, open floor plan) #2 4500 sqft ( vacant top floor is office space ( 2250sqft), bottom floor open space) #3 2500 sqft ( occupied-retail )

I would like to build out property #1 and #2 to residential units both with 5 units and I will update the 3rd property and it keep it as retail.

Any suggestions on financing ? THIS PROPERTY HAS BEEN VACANT FOR NEARLY 2 YEARS. The owner bought the property for 300k in 2015. The property is distressed, but not beyond repair ( no rotting or structural damage) They only income is coming from the retail store in #3. The neighborhood is "up and coming", but it will take another 7-10 years to start to see improvement. I have 90k to my name in cash. Zoning will support my plan, I've talked to permitting office and engineers who have given me the green light ( in theory)

My END GOAL is to buy and hold this property

Options:

-I was planning to try to master lease with option to buy in 2 - 3 years for 350k ???? ( im not sure yet of offer price, hard to gage because it's vacant and hard to gather comps), and use my case to rehab or maybe a bridge loan

- Seller Financing ?? Any suggestions

-Hard money then BRRRR

- bank loans?

- portfolio loans?

Please help all suggestions would be great.

 So, if you know anything about the DC area its completive and extremely hard to break into. I've identified an off market property in Maryland. 

3 properties in portfolio : zoned mixed use: #1 4500sqft ( vacant, open floor plan) #2 4500 sqft ( vacant top floor is office space ( 2250sqft), bottom floor open space) #3 2500 sqft ( occupied-retail )

I would like to build out property #1 and #2 to residential units both with 5 units and I will update the 3rd property and it keep it as retail. 

Any suggestions on financing ? THIS PROPERTY HAS BEEN VACANT FOR NEARLY 2 YEARS. The owner bought the property for 300k in 2015. The property is distressed, but not beyond repair ( no rotting or structural damage) They only income is coming from the retail store in #3. The neighborhood is "up and coming", but it will take another 7-10 years to start to see improvement. I have 90k to my name in cash. Zoning will support my plan, I've talked to permitting office and engineers who have given me the green light ( in theory)

My END GOAL is to buy and hold this property 

Options:

-I was planning to try to master lease with option to buy in 2 - 3 years for 350k ???? ( im not sure yet of offer price, hard to gage because it's vacant and hard to gather comps), and use my case to rehab or maybe a bridge loan

- Seller Financing ?? Any suggestions 

-Hard money then BRRRR

- bank loans?

- portfolio loans?

Please help all suggestions would be great.