All Forum Posts by: Justin Lenk

Welcome to BP!!

Are you affiliated with them other than being a customer?

You either have to go down to the couthouse to pull them manually if your county isn't online, Pay someone to go down to the courthouse for you, or pay a company that does the same thing.

The only company I've seen do this on a national level is USProbateLeads.com (Disclaimer: I've never used them personally but find their prices rather expensive.)

Hope that helps!

Hello Everyone,

I'm a wholesaler in the Maryland market who is passionate about real estate and finance. My goal is to provide investors with quality deals while providing solutions for sellers in distress. Everyone always talks about doing what you love and it won't feel like work, well.. this is that for me. I truly enjoy coming up with creative solutions and working with people to create Win-Win-Win situations. 

I send all my available deals that are under contract out through my email/text list.

***You can join my buyer's list by visiting: www.CheapHousesInMaryland.com***

I love networking and bouncing ideas off other people. If you'd like to grab lunch or something of the sort feel free to reach out to me! My cell is 301-244-8055. Thanks for stopping by and happy investing!

-Justin Lenk (Acquisition Manager)
Cash For As Is Houses, LLC
301-244-8055 (Cell)

Rick, Let's talk! Feel free to message me.

I spotted a small shop that appeared to be vacant. Did some research and found out the whole company went out of business after 50 years. This is a very high traffic area and would make a great location for another business. I did research and found out that it was purchased in the 80's for about half of what it's worth now and there's no sign of refinancing along the way but also no release yet on the original mortgage. I have the address of the owner and plan to send him a letter or door knock his door and talk face to face. I see an opportunity but want to educate myself before jumping in.

My main question is, how does wholesaling Commercial Real Estate (in this case a small shop/garage) differ from wholesaling Residential Real Estate? Do the contracts need additional language?

Also, can I put this under contract and have a commercial broker bring the buyer and pay them a %?

Thank you,
-Justin

@Sean Richway I'd be more than happy to hear what you provide in terms of financing. Please PM me so we can discuss. As for future deals, they all go out via email. The link to join is listed above. 

Thank you,
-Justin

*This property has been put under contract and is currently unavailable*

For all other future deals, please join our buyers list by CLICKING HERE.

Thank you to everyone who showed interest.

-Justin Lenk
Acquisition Manager at Cash For As Is Houses, LLC

***Cash For As Is Houses, LLC currently has this property under contract and is selling their position in the contract. To join the group of investors that receive property opportunities via email/text: .***

***DO NOT DISTURB TENANTS OR TRESPASS ON THE PROPERTY. SHOWINGS AVAILABLE BY APPOINTMENT ONLY.***

*Unit Square Footage is Approximate*

***VALUE ADD DEAL***

Turn under market rents into market rents and keep the equity. Own a rare 1982 built Duplex Multifamily in Frederick, Md.

Estimated ARV based on ROI Opportunity + Multiple Investor Opinions: $220,000 -$240,000
Comps are non existent since there is nothing similar in the Frederick area (most duplexes are older), this was built as a duplex in 1982 by a well known builder.

Estimated Repairs: $20,000 - $30,000
-Units are outdated but in good condition (See pictures). To get the most value (rent/month) you would need to update the units.
-Drainage issue (easy, cheap fix). Run drainage all the way to the street to correct.
-HVAC indoor units (outdoor units look newer) are older and MAY need to be replaced in the future.
-Garage/Basement clean out.
-New garage doors.
-Minor Miscellaneous Repairs.

Current Rent vs Market Rent:

Current rent brings in $700 / m each unit with one side of the garage rented for $100 / m totaling $1,500 / m.

Market rent for updated 2/1s could bring in $1,000-$1,100 / m each unit. $2,000-$2,200 / m plus $100 / m from the garage would bring in a total of $2,100 - $2,300 / m total.

Pros:

-Solid build by a well known builder back in 1982. The "bones" are good.

-Built as a Duplex NOT converted to one.

-Equity.

-1+% Rental in Frederick.

-Own a rare commodity in Frederick.

-The property has potential to be a solid, reliable rental for years to come.

Cons:

-Tenants are not on a written leases and MAY need to be evicted.

-Not turn key. Updates are needed to be made to optimize income and meet market rents.

-Roof was roughly estimated at 15 years old but they did not have documentation on this.

-Evidence of dampness in basement - this is due to the current drainage issue (easy fix).

-Does not currently have washer/dryer.

Pictures available HERE (For privacy reasons, please only share this link, do NOT download photos).

Feel free to call with any questions. 301-244-8055.

Cash or Hard Money only. $3,000 Non-Refundable EMD required. 7-10 Day COE Required. 

Third party financing available.

Not on our buyer's list yet? You should be. .

Welcome to BP Brandon! There's plenty of knowledge and value that can be found here.