All Forum Posts by: Chris Mcdonald

@Tyrone Marson

I’m proud of you brother and slightly jealous. Just kidding. Can’t wait to see the finished results and hoping to get my hands dirty too.

Keep in touch!

@Matt Duffner

Hey Matt, I'm an agent in Halethorpe and i agree your price point is a tad low. In Halethorpe row homes are $220ish if you cross into 21229 they come down to $150ish area ARV.

Network with some wholesalers for value add. If you ever want to see anything on MLS give me a shout

@Henry Lazerow

I wouldn’t mind. You may need to overdress to compensate though. If you look professional and talk the talk, know your ****. I trust you.

But people judge. Look put together and know your stuff.

I also lived in San Diego where everyone was tatted and Baltimore, pretty blue collar. I never wear a suit as an agent. Button down and nice pants or dress for the occasion if need be.

@Stephen Predmore

Have you found any lenders locally that do not require the 6 month seasoning period for a refi?

@Stephen Predmore

I’ll have my contractor do the roof, bathroom, and kitchen. I need to clear out the house as it is an estate sale. I will paint clean, landscape.

Biggest decision right now is whether or not to add central air or not?

No, i won’t be adding a bathroom or bedroom cause this already a pretty small townhouse.

@Stephen Predmore

6 month loan

0 % down for this one

But the HML wanted 20% of the house value down payment. The minimum loan they would offer is $80k and offered 100% financing on rehab

I’m sure others offer better terms and even they said they would get more competitive as I prove myself

@Stephen Predmore

The local hard money lenders ranged from 2-4 points at closing and 12-14% rate

Luckily a private investor funded this project for 2 points at 11%

I would check out Trius Lending or Kaine Investment

@Alexander Lee

Baltimore Real Estate Agent.

Once Covid is beat always down to network or brainstorm!

@Randy Sommers

I’ll consider “soft” money if I have to. My short term loan is 11% hoping to be 5-7% on a fixed 30 year. But the lender did say they are shooting for 15s and 20s at the moment.

This will be a trial and error, hopefully I can prove the process to myself and rinse/repeat!

@Tyrone Marson

Thanks Tyrone, I want to see pictures and progress posts of your upcoming project too!