All Forum Posts by: Ezinwanne Hawkins

@Maura Paler  In addition to wholesaling and RE investing, I also own a vacation company, in which I work with VR owners to rent out their private homes or timeshare units. Much of my day is filled with writing and critiquing VR ads and properties. 

Your VRs are beautiful.  The pics are superb and are the first thing renters look for when deciding where to vacation. My only suggestion would be to list the property attributes in bullet or some other vertical form - it makes them easier to see and read, and will hopefully cut down on the questions you receive that are already answered in the advertisement :)

Hope this helps!

1800 Block of Wilkens Avenue, Baltimore MD 21223

A Landlord's dream! Spacious 2br/1ba rowhouse on a great block with no board-ups. Clean, freshly painted, security system, central air, washer/dryer in basement. Central location. Very stable block - many residents have lived here for years and it shows. Unfinished basement has separate entrance and could potentially be finished and set up as a separate unit in the future. House is in great condition and is near turn-key -- just needs new carpet and it's ready to rent!

Comps

1838 Wilkens (framed shell) - $15.5K - Oct 2014

1818 Wilkens - $55K - Jan 2014

Section-8 2-bedroom rents in the area average between $900-1000. This one's a no brainer! $1500 EMD takes this property off the market. Contact us today - this one won't last!

Photos:

https://www.flickr.com/photos/131209978@N03/sets/72157652383489935/

http://www.thismombuyshouses.com/#!residential/cjg9

--

Ezinwanne Hawkins

[email protected]

Phone: 301-728-2103

www.ThisMomBuysHouses.com

Thanks for the advice @Ned Carey and @Wayne Brooks.  I decided to pass on the deal. Too many moving parts.  On to the next!

@Christina R. yes, that was me :) I'm still honored BP even wanted to hear from a newbie like me, lol. 

Hopefully @Ned Careyand/or any other investors who have experience with this kind of deal chime in soon. 

I was very active on BP a couple of years ago, but I allowed life to get in the way. I'm back for good now!

I've been approached by an out-state REI company with interest in dozens of Maryland properties, many of which they've obtained through the tax lien auction/foreclosure process. I'm assisting them with wholesaling some of these properties, but they've recently approached me with the opportunity to "purchase" a tax lien foreclosure judgement they've recently received for one of their properties. I would then be responsible for paying all of the outstanding fees to Baltimore City necessary to obtain the deed to the property.

I've run the numbers, and it looks like this could be a good deal.

My question is....is it possible to "wholesale" this judgement to another buyer? If so, what type of contract would I use to set this up? What is the process for registering a new judgement holder with the court?

I've researched these issues extensively, but I couldn't find any similar scenarios....I figured BP would be the place to get some answers :) TIA!

I've researched these issues extensively, and could find any similar scenarios....I figured BP would be the place to get some answers :) TIA!

Thanks everyone!

I actually haven't done any yellow letters or cards, with the exception of a handful of personal letters I wrote to owners I wasn't able to contact by phone. I hope to be able to add postcards to my marketing plan in the next couple of weeks.

This particular seller said that someone gave them one of my business cards, which I leave EVERYWHERE lol. Vacant houses, mail workers, neighbors - pretty much where ever I can, and with anyone who'll take them.

2 weeks ago I posted this summary about my first wholesaling deal - http://www.biggerpockets.com/forums/223-biggerpockets-success-stories , and a couple of days ago I closed my second deal! And what a story it is!

So I was in my home office one afternoon, and I received an email from a supposed motivated seller via my website. I say "supposed" because the email stated that they had a house they wanted to sell for $1 because they just wanted to be rid of it o_0. I thought, there's no way this is legit. So I cross checked the name they included in the email with the property address, and sure enough they matched! And I saw that the seller just bought the property last year and didn't pay much for it, so them selling it for $1 was entirely possible!

I *immediately* called the seller, and started listening to her "story" about why she wanted to sell. She'd bought the house for a future retirement project; the city of Baltimore was now requiring them to immediately begin renovation work; her husband put his foot down so now they wanted to sell. They'd put it on the market earlier this year for $10K and it didn't sell. So now they just wanted to give it away to be done with it :)

I couldn't believe it...I kept thinking someone was playing a joke on me. But I went to the property that same day (just to make sure it wasn't a burnt down shell lol), and then immediately sent them a contract which they signed the next day. I was ecstatic. After estimating some repair costs and researching comps, I decided to offer it for sale at 5K. It had sat on the market for months at 10K with little activity, so I felt good about that #. 1 week later, I got an offer of $4300 which I immediately accepted!

I just closed last Thursday and I still can't believe how this deal worked out. There were a couple of bumps with the closing (the out of state buyer arrived to settlemt with no check), but it all worked out. The sellers kept thanking me for taking the property off their hands. From the beginning, I disclosed to them that I may keep the property for myself, or sell it by the closing to another investor - they were *completely* fine with this. Just goes to show you the difference between a truly motivated seller and one who's not.

Just wanted to share my second deal with you guys. Keep pushing and remember to always keep your eyes and ears open for those deals!

Thanks again everyone :)

This particular property didn't fall into traditional parameters for analyzing. The repair costs likely exceeded the property's ARV; however, the location has been slated for lots of exciting development. The end buyer would likely be a speculator, so I knew I had to get the property under contract at a number that would immediately be attractive to a speculative investor. From my research, I knew that Baltimore investors often purchase groups of properties at a time for $5-6K per property, so I made my offer price less than half of that in order to leave room for my profit.

HTH!

Even if you don't receive any leads via your website (which is unlikely), I still believe it's worth the minimal cost. It definitely legitimizes your business, and gives you an opportunity to speak to your buyers and tell them about yourself and your business. They're so cheap to set up these days...in some cases free.

My second deal contacted me via my website.

GL!