All Forum Posts by: Keri Browne

@Jeremy Davis

This is for an investment property and I already have a realtor. I've realized he is not familiar with the rehabbing process, so I'm asking you guys. Thank you for the offer price calculation. :)

@Walt Payne

My dad does construction and I have a builder friend that does work on my home already. I'm not worried about the contractors for right now. The water is coming from a clogged outside drain and weeks of rain. there is NO mold upstairs. Already had the whole house tested. thanks for your great advice.

I know for a fact I cannot come up with all the closing costs. Would you negotiate them?

Hello,

I found a foreclosure listed for 160k. After seeing it, there was extensive mold and about 2 .of stagnant water sitting in the basement. I have had a mold remediation team come out and give me an estimate to remove mold and sitting water. Total cost for repairs would be $20k + 10k for upstairs generic repairs such as cabinets etc.

A house 2 blocks away (same neighborhood) with same floor plan sold for $265k in May 2014.

My questions are:

1) what do you all think would be a good offer price? I have an offer price in mind but I would like to know your ideas.

2) I am interested in a renovation loan and already prequalified, but I do not have enough money for closing costs, however, I do have enough for a 30k down payment. How would you negotiate the closing costs?

3) If the closing costs could not be negotiated, how else can I get the money for closing?

FYI: The 30k down payment is ALL the money I have saved up. So I would like to keep the down payment closer to 20k

Looking forward to your thoughts. :)

@Andraise Scott @Anita Bloom @Wallace Audena Hey all. Feel free to message me, as I have reached out to some of you. If possible maybe we could all get together? :)

@Brandon Turner I absolutely love your blog posts and thanks for the welcome. I read the articles you suggested last week. Good stuff!

@Ned Carey Thanks for the suggestions. I'll look him up.

@Ned Carey Definitely downloaded the guide. What are some clubs you recommend. I would like to start networking. :)

@Andy Robison Yes. I remember some of those days. Thanks for the welcome :)

Hey guys and gals! I have found this site to be very useful :)

@Anita Bloom welcome to the site.

Welcome Zach! I see you are in Baltimore. Good to have some more MD people on here since I am in Beltsville. You will find a ton of useful info on this site. Definitely download the free beginner's guide pdf. Enjoy.

Thanks for the input everyone. I have decided to pass on this duplex.

@Walt Payne thanks for that. I didn't see it that way. For your second point, how do you suggest I see what's coming onto the market. Do you currently have a any resources that you use?

Thanks for the response.

I was looking at it in terms of the mortgage being $400 but I can actually receive $1250 a month assuming I can get the max rent from both units. The repairs I can handle on my own.

Hi Everyone,

I'm wondering if anyone would consider this as a deal.

Small 2 Unit Multifamily for about 80k:

Unit 1 = 3 bedrooms/ 1 bathroom

Unit 2 = 2 bedrooms/1 bathroom

The area has been on a decline for a while now, and I'm wondering if this is a good deal or not. The max. I can charge for the 3 bdrm. is $800 and $650 for the 2 bdrm due to the extremely cheap cost of living. I have more than enough money for the down payment. I'm am concerned since other multifamily houses in the area have sold for less recently and I'm not sure the market will appreciate anytime soon. Also not too far away has a high crime rate and I'm concerned about attracting bad tenants or tenants not being able to afford the rent. The unit might also need a bit of work.

I did an estimated value of the duplex on multiple sites and the value was 99k.

What do you think?

I'm learning to recognize good or bad deals and would like to use this as an example.

Thanks!