All Forum Posts by: Eric Washington

I recently decided to sell off portions of my portfolio but I've been in the class d arena my entire time in the business. There was a young investor killed in Baltimore not long ago and it still bothers me. Yea, people die daily in major cities but this one really hit home. He was simply renovating a property and was shot dead outside of it. Man, I can write a book on my in the hood stories and had my share of chaos but I was able to always mitigate stuff. However, this could have been anyone. I just sold my south Baltimore properties and that was the same area which had 28 shot a few weeks back. How frequent is it for investors to face violence? I dont hear about much but it could just be the circle I'm in. What are your horror stories?

It wasn't a mistake someone wanted him gone.

0 Votes

I personally figured things would slow down and people wouldn't want to move. I was outrageously surprised to find out i was completely wrong

0 Votes

Did any of you that are realtors expect the market to remain as smoking hot as it has? At-least in Maryland every home seems to be ending up with a dozen offers a day or two after hitting the market.

0 Votes

Originally posted by @Justin Stephens:

@Kevin Williams` How did this turn out for you all these years later? I find myself in your exact same situation right now. Thanks!

I'd say send the video to the police and they can build a case with it if they are so inclined.

0 Votes

Oh i know just tossing i idea out there

Originally posted by @Steve B.:

@Cori Leste 15-20% gain after reno is considered a fairly reasonable to good target margin in this market. You probably want to drag your renovation out a year to change your marginal gain into a capital gain

@Eric Washington very few normal sellers are going to make those type of contingency deals. Even as an investor, I wouldn’t touch a deal structured like that without knowing the buyer well.

0 Votes

What did the comps say before purchase

0 Votes

So if they are willing say offer them 600 or whatever works for your numbers. If you sell at 825 thats what they get. If you sell at 925 they get 50 more

0 Votes

I like the idea but I think the owners might balk at it unless desperate.

After you determine what your profit amount should be based on all your numbers offer them that amount or slightly under. They may not be comfortable with the unknown. +

What is the ARV and cost for the potential project?

0 Votes

What are you guys favorite books on the topic of house flipping.

Thus far I've read J Scott's books on rehab costs and house flipping.

Mark Ferguson's Flip your way to financial freedom

Gary Kellers Millionaire real estate investor

Phil Pustejovsky How to be a real estate investor

The ultimate beginner's guide from BP

And a short book on flipping from do hard money that im not proud of.

I need more material on the topic to consume. I've listened to all of the podcasts on the topic and many of the short videos not just from BP but other experts as well(I drive a truck and have boatload of time).

0 Votes

If you don't think you can manage the project use a GC for sure but you still have to keep track of them.

0 Votes

All Forum Posts by: Eric Washington

Eric Washington has started 4 posts and replied 27 times.

Post: An Investor Killed!!!!!!!!

Post: Hot Market everywhere?

Post: Hot Market everywhere?

Post: How to deal with Drug Dealer Neighbors

Post: How to structure this seller-finances offer on a flip?

Post: HELP!!! About to loose money in a JV deal..

Post: How to structure this seller-finances offer on a flip?

Post: How to structure this seller-finances offer on a flip?

Post: Favorite books on flipping

Post: First rehab aa county MD