All Forum Posts by: John Bucci

Looking to do the same in Baltimore. 100k-150k range. Solid rental area. Fix up and sell for profit in the future. 

Biggest issue in Baltimore is it's a very competitive flip market, but plenty of rentals available. Since I'm just starting out I think its possible to find a deal with margins that work for me, but may be too small for the bigger guys. 

You don't need a specialist, just have to do ALOT of research. May be worth it to you to pay someone to research for you.

Condos can be total gut jobs that require 40+ in rehab. You really never know. Estimate high costs, and make sure the deal will still work. Anything else is bonus

I would recommend avoiding condos. Their fees, rental restrictions, etc. can be a pain so do your research

Buyer may be hesitant to buy if deed isn't in your name 

I doubt he will be able to sell the back lot to anyone other than the person who buys the house. So you could just wait and try to get the house, and then buy from him. Unless you think he will cause problems/ be hostile later on. Then you can buy now and hope to get the house/ sell to new owner for at least the same amount. 

Depending on your area there are usually a few big players that have a lot more money to play with than you. But they may not be there every day so you can get lucky.

It can be tough, but it's worth checking out. Find someone that knows the regulars in your area and is familiar with auctions

Definitely should shave a couple grand off that paint job..What's the time line on the job? 

if you've never worked with the guy don't give too much upfront

 Yeah man, that's part of the business! Sounds like you found a good deal. And if you're going to live there, rent and hold, then I think you're ok paying a little more, where in a flip scenario you need to be more careful. If you still come out on top in the worst-case scenario then it sounds like a good deal!

That being said, I would definitely try to get an inspector/ contractor to take a look.....Is the property a foreclosure? Did the seller sign a disclosure agreement?

Hey, I am from the area. What town is it in? (If you don't mind me asking)

Sounds like it could payoff in the long run, if you have the money to make the repairs. And since you're living there, and it isn't JUST an investment it might make sense to pay a little more. Westchester real estate should continue to appreciate if the location is decent enough... And you may get lucky and the gutters could solve the water issue.

But, you have to get the property for the price YOU want it for. If he isn't willing to come down and the numbers don't work for you, then pass on it . Winter is coming soon so i'm sure he wants to move it, if you think he's bluffing about having other offers then push for a little more $