All Forum Posts by: Rachan M.

Hello all,

While driving yesterday, I noticed a house with DCRA notices all over it - overgrown grass, unpaid taxes, utilities cut off etc. Quick online research revealed that the owner passed away and property has been vacant for 2+ years. It seems the next of kin lives in the area, but has obviously not paid any attention to the house - no maintenance, unpaid bills, owner's stuff is still inside. The city has not yet put the property up for tax sale.

I really like the house and its location, although it needs a ton of work! I want to look into buying it - what are good next steps for me as a buyer/investor?

Thanks, as always!

Hello all,

I was driving and noticed a house yesterday with DCRA notices all over it. Quick research online turned up that the owner passed away and property has been vacant. It seems the next of kin lives in the area, but has obviously not paid any attention to the house - no maintenance, unpaid bills, owner's stuff still inside.

I really like the house and its location, even though it needs a ton of work. What is a good next step for me as a buyer/investor?

Thanks, as always!

@Mark Owens @Monica Marusic @Angela DeBorja I would love to connect and learn about Baltimore from you. Just sent you invites, hoping to talk to you further!

@Joseph Brown How is your investment working out? I am a DC resident looking to invest in Baltimore as well. I drove there today to get feel of the city. I did see MANY vacant properties but don't yet know the numbers, so wanted to reach out to the BP community.

Thanks in advance.

Well it's been in default for 6 months.. Does that mean the IRA idea won't work?

Good Morning you all,

I have a basic IRA question. I took a loan from my 401k in 2017 to buy a property. I got laid off from that job in 2018 and so the loan is now in default for $11,675. I am told that I'll save on penalty/taxes by putting money away into an IRA account, and that I'll have 60 days (today being 12/31) to make payments into it. Is this true?

Thanks so much, as always!

Thanks again..

@Russell Brazil I think you know what I meant but just to clarify - we're all talking about earnest money deposit, correct?

The market in DC is very hot! This is an estate sale that has been listed for a few weeks. I suspect this particular property is less hot - list price is too high for it (mold, leaks, lots of other work needed), and I will do an inspection.

I'm offering $550k, loan amount $420k (not a cash deal), I'm pre-approved, ARV ~ $800k. I can close quickly but I guess much of that depends on the underwriting process?!

I'd like to move into it, not looking to flip.

Good Morning lovely BP community,

I am putting a lowball offer on a house that needs a lot of work. My (very nice) realtor suggests including a deposit that is not too high, but looks serious enough..  Something ~$15,000.

Before I make that move, I'd love to get your input :-) Is this safe? Should I be considering any best practices?

Thanks so much!

Great to read about your @Cassidy Burns !