All Forum Posts by: D'Aydra Allen

@Account Closed - It would probably take quite a bit! I won't know until I walk through the home I plan to purchase and develop an estimate of materials (and maybe additional labor depending on the work) needed to bring it up to whatever standards we set. We haven't gotten to it just yet but I will be sure to comment on this thread once we purchase and renovate and let you all know how it goes.

@Account Closed - I much more enjoyed the positive replies I received. Thanks for you input though. We'll take our time and find something that works for us. I've considered wholesaling, we'll see!

@Ned Carey - Thanks for sharing your input as well! I expect to put in hard work and I think I am being realistic in my expectations. I've had to bid on completed gutted, half burnt, flooded homes in the past and I know these things take a ton of work to get into good shape.

I do not want to be anyone's slumlord! I hope to bring back some value, if even just a tiny bit, to the city of Baltimore. I know it won't be turn key, and I expect renovating it to take some time... you and Jamal are right, it may very well wind up being a better option for someone than where they are!

You all are so great! Thank you SO much for your honest and positive feedback. I really feel a lot more comfortable moving forward, cautiously of course :-)

D'Aydra

@Jamal L. - you are so positive and I appreciate that! Thank you for sharing your experience and insight.

I've been browsing different posts on BP and elsewhere about investing in Baltimore but I'd love specific feedback on the ideas and thoughts I have.

My husband and I own a HVAC company, he has the actual HVAC experience. I have almost 8 years of construction experience (estimating, project management, drafting). I think we're a pretty great team! We're finally ready to figure out this investing thing and we're very excited about the possibilities.

I think Baltimore would be a good start for us, as we have little money to begin with AND it's close enough to home. Is it realistic to invest 5-8k in one of the row houses in Baltimore? I have done online research of different neighborhoods; the good, bad, and in between. I've found a zillion properties in the 5k range and of those about a handful with actual potential (at least that's what I have come up with based on nearby neighborhoods, home values, and rental prices). I want to go to Baltimore this weekend or sometime soon to actually drive through some of these areas to get a real feel.

If things appear decent enough my idea is for my husband and I to purchase and put in major sweat equity to demo and remodel. We have family and friends who are electricians, home builders, plumbers, etc., so if we need additional help I know that we can make it work for a lot less money than average. Once we've remodeled, my husband would like to hold onto the property and rent it out (I'm undecided).

So, what do you all think? Any opinions on this?

**Just so you're aware, we plan to use our own cash, using credit is not an option at this time. Also, a partnership has been on my mind too... like, if we can come up with 5-8k maybe we could partner and have 10-16k total to invest in something better with someone else.

I look forward to your feedback!

D'Aydra Allen

@Julie Marquez - I just started reading your blog, I should have done that before asking... I have been trying to finish this darn Civil degree since forever and kinda want to just go the CM route but have no idea what to do! Anywho...

My goals:

1. Rental property is our (my husband & I) long-term goal - I know that this may need to come later than sooner because of the capital and credit required for most deals but I am open to figuring ways around it. I'd like to have a nice stream of income from rentals in 10+ years in addition to our other business.

2. Flipping - This really excites me and I want to get into this ASAP however possible! I love construction and architecture and could see myself loving this type of investing as well.

3. Wholesaling is an option not necessarily a goal - I am VERY curious about how this actually happens... :-)

Hi @Julie Marquez!

Thanks for the welcome. Is your background in Civil Engineering?

Hi @Monet Calvit!

Welcome. I'm new here as well (actually, this is my second time around and I found my way here after a sales pitch too)! I am also hoping to turn knowledge into investments. I currently run a HVAC biz with my husband and we're just ready for more.

Best of luck to you!

Dee

D'Aydra Allen

Hi Mike,

Just saying hello since we're in the same area. My husband and I own a HVAC company here and we're looking to get into investing and would love to learn from and grow with more experienced professionals. Anywho, I wish you luck expanding into other markets! And welcome (today is my first day as well)!

Dee