All Forum Posts by: Account Closed

@Christopher Haynes, I am considering flipping in Baltimore. The key is to find property at 60-70% of AS IS value, or 70% of ARV minus repair costs. If property is priced similarly to neighboring homes/comps, then you can't profit by fixing and flipping it, you are better off to buy and hold/rent. But I am actively looking everywhere, including in Baltimore.

@Matthew Paul, yes, finding a deal is the top priority. 

I know I can buy and hold, try to rent. But, I don’t want to deal with tenants. My sister had two condos in MoCo and constantly struggled with non paying tenants. I would get into it if I could own 10 or more rentals, letting a management company deal with tenants. And if I had some vacancy or non paying tenant to evict, I would consider it s cost of doing business. But I can’t afford vacancy/non paying tenants with limited resources I have.

I also know I could wholesale, but it’s the same as flipping when it comes to finding a property when market is hot.

I am not aware of other ways of investing 179k in RE.

Hi everyone! I am glad to have found this forum! Ever since registering here in September of the last year, I was quietly reading the posts, absorbing the information, sending contact requests to fellow investors, talking with realtors, playing with hard money calculators, searching properties and basically trying to get myself educated and able to comprehend some basics before plunging in.

Now, hesitation is not my problem. Once I get the understanding of the situation I am wiling and able to jump in. However, I have a feeling that I have chosen a wrong time to get into this business.

As a start-up with have very limited resources (I can afford to $170,000.00 in TOTAL project costs*, may be $200,000.00 if I stretch myself too thin and take the extra risks with no reserve capital left for any unpredictable, unknown and adverse occurrences) . And it seems that market is over-saturated with money , with a lot of investors out there, all at once trying to flip properties , with inventory too low for no economically justified reason), and it could be a matter of time before real estate gets the wake up call and dives down for correction, as stock market did in October through December of the last year.

Am I wasting my time trying to get into this business with resources I have? Or is there still a realistic way to make profit and flip with $170,000 in Maryland? Are there any seasoned investors willing to share their perspective on it?

I don't want to just unload a ton of money on marketing and find out that too many others are doing the exact same thing and the return is zero due to market being too hot and over-saturated with too many investors making irrationally high offers and competing against each other at a time when market is on the verge of the next crash.

Please kindly share your thoughts and let's exchange some ideas and see if anything can be done by a start-up in a hot market we are in right now.

Thank you!

Eric 

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*Costs including purchase of the property, closing costs, carry over costs/high interest hard money loan payments/insurance, rehab costs, closing costs at sale and etc.