All Forum Posts by: Tunji Ogunmefun

Christina,

Thanks for replying. I should have said that I am waiting on the bank to sign the purchase docs so can't really give the address as of yet. The property is in baltimore city, in the Hamilton area. I am working with a contractor, but I am also a rehabber  myself who has worked on 10 properties already. However I have never done an acquisition or a sale before. the initial estimate I received from my contractor was 40,000. I am working with a realtor as well and the comp I provided came from him as well as my research

hello bp community,

I am a long time browser and first time poster. The day after reading rich dad poor dad I began researching the world of real estate investing. Naturally I stumbled across this community and have been reading all the advice y'all have provided. I have now taken the plunge in securing my first property under contract and I would like to know what y'all think about financing, specifically, hard money or private lending in maryland/Baltimore area for a house flip. property details are as follows:

Purchase price: 60,000

House: 5 bedroom, 2 bath house

County Assessor information: land value: 68,000 building value: 110,000

Comps from realtor.com: $189,000

Please, someone give me advice as to which financing option is best and the likelihood of getting the financing.

Are there any investors on this site who are active in the baltimore area who are willing to provide financing? And/or partner or mentor me on my first deal?

Any advice is welcomed.

Thank you

P.s. rehab cost: 40,000