All Forum Posts by: Marylin OShea

I've seen this map shared on another BP forum post, and I'd recommend you bookmark it too :)

http://planning.baltimorecity.gov/sites/default/fi...

I am interested in hearing from experienced investors in the NE part of Baltimore, past Clifton Park towards Parkville and Rosedale. I've spotted a few SFH that I want to drive by. The numbers there make a lot more sense than in Annapolis. Insights anyone, maybe @Ned Carey?

Should have mentioned, I am interested in cashflow in order to fuel other short to mid-term opportunities. 

Hi @Eric A., I am anxious to hear if you've made progress on buying from your landlord?

I was going to chime in on the 10% below comps. Since you're throwing the first number, I'd definitely start below what you are willing to pay, not by a crazy margin though. So to me 10% sounds like a good start. You may end up at 5% - it's all part of the normal art of negotiating.

Did the landlord express interest in owner financing? I'd be interested in offering the same to my current landlord but I have a feeling he already owns "my" place free and clear so... not sure it will go anywhere!

Please share your tips on how you negotiated next steps!

Thanks for the recommendations, @Robin Watson, I've placed a hold at the library for that book. I am familiar with his story, but no the book.

I've involved with a lot of nonprofits (and I work FT for one!) and I am hoping to learn more about yours, seems like a formula that works for you and I was happy to learn about the bank incentives. Exactly the type of info I was after.

Your response was quite inspiring, I am definitely open to creating a 501(c)3 to support my idea. @Thomas S., you are correct, if I want to be able to scale my impact, I need to find a way to bring money in at some point. I wasn't implying that making money wasn't promoting social goodness, sorry if my post came across that way. Of course, I commend you for supporting your community by investing in depressed neighborhoods.

As for "the little equity you have will be hard to get when times get rough" - I intend to be conservative with how much of my personal money gets allocated to this project, so hopefully I never have to pull the rug from underneath someone who benefits from affordable housing. Good food for thoughts however...

I am very appreciative of all the feedback and comments, thank you so much.

Hello everyone, I would like to position my investment strategy as a social enterprise, and haven't been able to find relevant conversations about that subject just yet.

I am interested in "investing for good" in the Annapolis, MD area, not so much for the purpose of cash flow generation, but to support my community - buying small properties, affordable for a low-income family, and helping out those who may lack credit or references yet are in a truly dire financial situation - whether they are vets, victims of domestic violence, documented immigrants, etc.

This may sounds suspicious to you all, but I am happy to hang on to the equity and not make much cash. I am lucky to have a solid FT job (which is also geared towards social services) and I am a very conservative spender -- so I can allocate part of my reserves to helping families cope.

Can anyone refer me to resources (books, online) or users who have experience with similar initiatives?

Thanks in advance,
Marylin

Hi Colleen! I happen to be in Annapolis, just starting out as well, and planning to purchase my first rental property - hopefully before the Summer! 

Doing lots of research and would love to connect with like-minded investors. Sorry I can't address your question just yet, I am still studying loan types myself.

Keep me posted of your progress, and best of success to your and your husband,

Marylin