All Forum Posts by: Jake K.

Although I have no magic crystal ball - 

On a gut job

Depending on how extensive you are gutting

Windows/Electric/HVAC/Plumbing

$45 - $65 per SF is a fair Guesstimate

Hi Alex,

Being a new investor myself, take my advice with a grain of salt..

My current route for investing is with wholesaling, it sounds like you might be taking a similar route.

Irrelevant, but maybe it'll help: My two main lead sources are bandit signs and cold calling pre-foreclosures.

I obtain my lists through my local title company that I've built some rapport with. I've also used Listsource.com in the past (and had good/similar results), but continue to use my title company due to price.

For skiptracing, I've only used a few different services but have had the best luck so far with needtoskip.com.

Hope this helps!

Logan

Somebody's gonna win, why not me?

A family member has 4 close friends that each won multiple millions on different lotteries, winners are out there

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $45,000

Cash invested: $12,700

Sale price: $145,000

3 bed 2 bath, three car garage

What made you interested in investing in this type of deal?

I have been investing in real estate since 1969. Any type of property, and kind of deal as long as it is profitable

How did you find this deal and how did you negotiate it?

Found on the MLS

How did you finance this deal?

Cash

How did you add value to the deal?

Some minor rehabbing

What was the outcome?

After fixing, then renting it at $1050/month, I sold for a profit of nearly $110, 000

(ARV * 0.7) - Repair Costs should be the purchase price.

So, $100,000 * 0.7 = $70,000

Repair Costs = $10,000

Purchase price = $70,000 - $10,000 = $60,000.

Why even pay $80k?

I am pretty familiar with Baltimore from staying there about half the time for more than 2 years. In the past months, I've talked with other investors and a few realtors and learned more about the city from an investor's view. So, I feel I have a good grasp on neighborhoods in general, but I'm struggling with putting numbers to what I know mentally. 

Take the area around Roosevelt Park in zip code 21218, for example. I've visited and spent time in this area many times even before I got into real estate, I know that it fits my goals and I've had realtor contacts tell me the same. It's not the only place I'm considering, but it is one. I've walked it, gotten to know it as many here recommend. But how does this translate to numbers? I know ranges of rents ($1000 - $1500, say, for the properties I've been looking at), had other investors tell me ranges of their insurance rates, maintenance rates, etc. But that's all I have: ranges. Meanwhile, there are properties for sale that don't seem so different from one another that go from $80,000 all the way to $150,000 and higher. The square footage, bedrooms, bathrooms, are quite varied making it hard to compare.

My problem is plugging these in to evaluate deals. With such ranges, how do you know what values are most accurate? So far, I've just been using the most conservative estimates for everything. But even tweaking the numbers slightly generates huge differences, and these tweaks might be very reasonable. How do I really zone in on what the numbers should be? 

Thank you all.

(P.S. I also want to point out that I'm a beginner. I unfortunately happened to receive an over-the-top PM berating and insulting me for asking so many questions. Is that not what the forums are for? Of course, nobody is under any obligation to answer. :) )

BP -> tools -> file place -> forms

Hello, 

 I am trying to gain some insight as to how to collect tax delinquent lists in Anne Arundel County. I visited the District court in Glen Burnie to inquire about a "tax delinquent" listing at the county clerks office and was told there was no such thing there. She recommended to me that I visit the Circuit court in Annapolis, that they might be able to assist me there but she wasn't sure. Anybody aware as to how to collect that information for Anne Arundel County and Prince George's as well? Thank you