All Forum Posts by: Jamaal Taylor

 This is crucial. Also, nothing wrong with investing outside of the listed above areas. Those areas have a lot more construction activity and higher entry prices. Baltimore city is block to block so just make sure where you’re buying isn’t full of vacants. There are A LOT of properties people ran out of money completing and sell in 50-75% fixed up condition. There’s a lot of money to be maid fixing and renting. Spend more on the property in “good 😒” areas or spend less on the property in other areas. It’s a spectrum you decide how far down it you go.

The range on rentometer is 1700-2400. I e eye red the rent amount as 2000k I says that rent is reasonable. You could get 2500 depending on how updated the unit is.  Check rental website and see what 4 beds are renting for to get a more accurate price

 Go with avail.co very simple and walks you through everything 

Use your own if you can. Side gig, 401k, ask family whatever you need to do to start. Starting is the most difficult part. I purchased a home with an fha loan. Used a 401k loan to help fix it up. Also got an fha title 1 loan x sold it 1.5 years later. Dont know if you’re flippin but just giving some idea of funding. 

203k loan is a great option if you don’t already have an fha loan

Hey Stephanie!!!! Condos typically aren’t. They can have restrictive rules sometimes. Maybe consider buying a run down duplex with a 203k loan? This allows you to roll the purchase and renovation price in one loan with only 3.5% down. Up to 4 units. You’re also allowed to use the projected rents of the non occupied unit to help you qualify for the loan if need be.

What market are you in? Love that this will be a family house. 

This is fantastic man!!!! 

Can’t speak on Virginia but With the right property there are lots of opportunities to force appreciate the properties with renovation in baltkmore. Baltimore also has some very large properties that lend themselves to be converted from single family dwelling to multi family dwelling. This would make a cash out refi a very real possibility and allow you to roll money into the next property. Not easy but doable with the right teams and process. I’d buy a large single with a 203k loan, convert it to a duplex or triplex, then look to cash out refi 12-18 months later. I own a triplex in baltimore.

 There’s a great Facebook group called the 203k way. People sharing their experience from all over the country. I suggest you join. You’ll find lots of good info and recommendations