All Forum Posts by: D Barkley

EXTRA LARGE END UNIT IN BUTCHERS HILL  3,800sf

Just for the Out of town investors 

that thought Charm City had no value...

No this is not mine just thought i would share it, being its in my farm area 21231

Originally posted by @Manolo D.:

@D Barkley D, I do, but I am in california. lol. thats good that they gave yo the 10k. I have re-opened my drafting services that is why i asked, i modelled it to be of per job basis so i wont maintain the hourly on both engineers and architects. Good luck to you on that, one step at a time bud.

okay thank you. I hear you but just like J Scott said good contractors are hard to find when building a team.  So one step at a time indeed.  

Originally posted by @J Scott:

What do you need the drawings for?  Permits?  Your GC?  Both?

If you just need non-structural drawings for your GC, you can do that yourself using a free CAD program or even in PowerPoint.

If you need structural drawings for permits, then you likely need an engineer's stamp, which means you'll have to work with an architect or engineer at some point in the process.

 Thx J 

Needed the drawing for GC and Permits but have layouts now. Now just have to run these by the Engineer for approval/ and seal. Who are you using on your projects, since your wife designs the layout and you send them for approval with Engineer/Arch also?

Originally posted by @Manolo D.:

Are you in need of drafting or designing services? Any engineering/architectural stamps? It doesn't sound like a big project, I am actually trying out something like that on my team also.

 Yes already drafted it. And yes will get it reviewed & stamped/seals by Engineer, do you have one you use? Although its a average projected cost rehabbed budget of 114K plus fixed cost. Although the funniest thing happen today when calling Balto City and inquiring about 10k in closing assistance for my retail buyer. The program manager asked me how much did I pay for the property when determining if the project qualifies, i paused but didn't want to upset him because its public knowledge. So I told him the price and he said WOOOW thats way below market price for that area, and your project qualifies for it in 35days. As I always say there are deals to be done.  

Originally posted by @Mark Sidorczuk:

@ D Barkley I would recommend using Sketchup it's free and is really easy to use. Most  architectural firms use the pro version of this program which is cheap only $500 per seat. Sketchup is typically used for presentation renderings but can also be used for a simple set of Dwgs. 

 Okay thank you for the insight just found some "Punch Home Design software" kinda a learning curve, but was just awesome for what I needed. Saved me about 2k in design cost. Now just have to get it to a Engineer & Balto City with 4 sets on 11x17 format to scale. My 8 and 9th grade drafting classes sure came in handy with this, and getting straight A's helps.  

Thx J

Just opening up the floor plan (removing interior walls) and moving the steps non- structural. Its only but so much creativity in a 2 story box 14X90 footprint. Front,rear, flooring joyst system stays same. What free CAD program do you recommend?  thanks in advance

Also wanted thoughts if i was just to layout the interior walls with a designer and use my GC to implement the layout, would that be more feasible financially? The architecture firm for the project Im working with are backed logged 3 mos out (can't do that moving on) Anyone have a good architect/designer contact locally that can handle a renovation row/town home 1708sf complete gutted, with reasonable rates.

I havent purchased a REO with a tenant (may agree to CFK) or homeowner (might be more difficult). Although It would be better to offer CASH for keys. I dont know how long the court process would take there, but in Maryland it is at minimum 1 1/2 months plus eviction which could take 3 more weeks not to mention if you Lawyer up. So by all means cash for keys, and make it sure they know to leave it clean and free of trash and debris for the cash.

I agree totally with that...thanks for the input. But I also see the larger banks are selling these notes yes probably at a deep discount while they are in the foreclosure process. Non performing paper SMH...yes they are stupid but I guess smart if you have a buyer of bad mortgage paper.

Some banks I have seen are either moving slow or not foreclosing at all. They seem to have a wait and see approach to homes that are under water.  I have seen most of these loans  from Chase, Bank of Amer, Wells, etc being sold to Nation Star and other lower less known Mortgage companies. These FC are taking about 12 to 18 months to complete, at least in the Maryland area. This has some pros and cons as to the time frame. Its good for you can campaign to a prospect for a year or more, but bad because these attorneys are just running up hugh bills in legal fees (sorry no offense). Im currently working on a sub2 and the legal bill is @8k (not even a court appearance), and PD payments are 12k. 

Also a friend told Chase bank you can have a property hes not paying anymore, and they said NO they arent foreclosing on it due to they dont see any value in it. If he offers them 8k for a 65k mortgage they will give him the deed ( yes im working that one also). 

So I was wondering if others were seeing these such large legal fees in there sub2 deals, as well with the slow moving and no foreclosure actions by banks.