All Forum Posts by: Kristen Ray

Thanks for the responses everyone. Update: The seller backed out. 

Hello BP!

I am looking for some advice. I have come across a deal where I can purchase single family property in a C class neighborhood with an infinite COC return once I refinance. The property is in great condition (rehabbed last year). The property is under rented at $1K month (property can command $1300-$1350 with subsidized housing). Moreover, the landlord is not business minded and states he put the tenant in there to "help her out." Anyway, her lease is up 8/1/18 then goes to a month to month option. I feel sort of uneasy with moving forward but this would be my first rental so I am not sure if I'm nervous or if it's the under market rent that is bothering me the most (under market rent annoys me every time I see it). She also has pets and his lease does not say anything about pets (2 small dogs). In addition, Maryland is a tenant friendly state. I offered to purchase the property on an option in August when she moves out and the response from the seller was "Well I'll just list the property and get more money for it." The seller seem motivated and anxious to sell the property. I asked the seller if the tenant would accept cash for keys and the response I got was "No, she's already struggling and her rent is under market. Where else is she going to go for that price?" Seller has a personal relationship with the tenant. When I asked if he did a background check the seller stated he did not because he knows her personally. Helping a friend is all well and good but he does not see this as an investment or that someone is purchasing this for business purposes.

What has been your experience in similar situations? The property needs minimal repairs at this time. All feedback is appreciated. 

Hello BP!

I am looking for recommendations for Maryland land developers. Any takers?

Hello BP!

I am looking for recommendations on Maryland land developers. Any takers?

thanks for your input 

@Bill F. I recently wholesaled a turnkey property and the buyer (cash buyer)  did an appraisal. Even though it was turn key it was below market. I was just wondering what other investors thought. 

Hello BP!

For all of my cash buyers that buy and hold for cash flow this question is for you.

Do you bother to get an appraisal if the purchase price meets your cash flow requirements? 

This is a 4 bedroom (potential for a 5th bedroom in the partially finished basement) 2.5 bathroom interior TH in Baltimore City. 

The property is located within the Saint Joseph neighborhood.

The property is a short walk to St. Joseph park

Public transit is also nearby.

The 4 spacious bedrooms make this a great room rental opportunity for the savvy investor.

The kitchen and bathrooms have been partially renovated. Most of the painting has been done.

If renting as a unit current renal rates for section 8 in the area are: $1,300-$1,500/month

Asking price: $32K OBO

ARV: $90K

Terms:

Must use our title company to close

POF required for viewing

$2,500 EMD and POF takes it off the market

Click or copy and paste into browser for photos: https://drive.google.com/drive/folders/1G02m8by60ZZwbue10iXEOL1lxnG8ojof?usp=sharing

This is an assignment deal

Feel free to contact me for more details

I have an excellent lender at Temple View Capital. His name is James Baisley. [email protected]

Great service and even better terms. If you decide to call him tell him I referred you.

Fort Washington Land Sale Details

Contact me for additional information

Address: 1701 FERGUSON LN
FORT WASHINGTON 20744-0000

Calling all investors! Build your dream home or your portfolio the choice is yours! This is an excellent opportunity for a creative developer to expand in a high demand area in the DMV.

There is a 2 bedroom 1 bathroom 1600 square foot property that sits on 5 acres of land. The property is a tear down. Water and septic systems are already in place. The property is a 5-minute drive to 495 just outside of Washington, DC.

Washington, DC has a thriving business and job market. It is likely that Washington, DC will be the new home of Amazon’s second headquarters.

Great discussion! Where do you get the list of phone numbers for cold calling?