All Forum Posts by: Natasha Graves

Investment Info:

Single-family residence private money loan investment.

Cash invested: $20,000

Invested capital into 2 side-by-side Fix and Flips in the 21205 area of Baltimore City.

What made you interested in investing in this type of deal?

I knew the contractor and wanted to learn more about flips without going through the process myself.

How did you find this deal and how did you negotiate it?

The investor reached out to me directly as he knew I was in the market for new investments.

How did you finance this deal?

My own capital

How did you add value to the deal?

I lended on a deal that was tied up in a tough hard money lender that would not allow for higher allotments when the investor ran into an issue.

What was the outcome?

The contractor was able to dig into the basements to add an additional bedroom and bathroom for each property

Lessons learned? Challenges?

The hardest part was trying to figure out how to secure my capital in a deal that was already tied to hard money. As it was, if the investor was not able to perform, the HM lender would have first right to the property.

I'm looking to lend money to an investor in my network to complete their renovation and would really appreciate some help with an attorney that can create the verbiage for our agreement. 

The project is two side-by-side rowhomes in Baltimore, MD with full gut renovations including a slight basement dig to add an additional bed/bath. The ARV and LTV they were able to secure with their hard money lender all check out so I'm comfortable moving forward. I would be investing about 20% of the rehab costs on top of the loan they have. I'm not sure how to go about writing the contract/agreement since the properties are already under a loan so if there is anyone with a contact to a RE or lending attorney that can help me out, that would be amazing.

@Steven Silbert I found Furnished Finder in the DMV area is the best route. I interviewed a few travel nurse friends, and many of the hospitals in this region don't offer the same assistance as other areas. A lot less legislation than AirBnB as well.

@Scott Trench thanks so much! I've been following you for a while so this is awesome.

 Thank you Steve!

 Thanks so much Dmitriy!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $300,000
Cash invested: $14,000

My first property using the house-hack method.

What made you interested in investing in this type of deal?

I was always interested in real estate and at this point I was 1-year out of college with my lease ending soon. I wanted to buy in the DC area but at the time was priced out.

How did you find this deal and how did you negotiate it?

I found it on the MLS with my agent. We were able to secure it 25k under listing.

How did you finance this deal?

I went with a conventional mortgage - 5% down in conjunction with the Maryland SmartBuy Program for student loan payoff.

What was the outcome?

Since purchasing, I've been renting out 2 bedrooms that cover the mortgage.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lovelle Pierre - Realtor
Donny Bayton - Lender

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $135,000
Cash invested: $32,000

100% turnkey in a rapidly developing area. I got it significantly under value and expect the entire neighborhood to continue to rise steadily. I went in with cash reserves but quickly ran into the reality of the rising interest rates effect on points, fees, and rate buydown. I also wasn't able to go the FHA route as I currently hold a primary residence title with the Maryland SmaryBuy program so I went with the 15% investor option.

What made you interested in investing in this type of deal?

I was looking for a property that would support a mid-term travel nurse tenant pool. I was looking at SFH primarily given my limited cash to fund the deal.

How did you find this deal and how did you negotiate it?

I found the property through the MLS and used my agent's connection to the seller to negotiate.

How did you finance this deal?

HomeStyle Loan

What was the outcome?

Within a month I was able to get it fully furnished and rented out at 100% capacity for a 3 month period. The rental rate I was able to get was 35% higher than predicted.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes! If you're in the DMV area - Lovelle Pierre is my go to agent and Donny Bayton as my lender.

@Steven Silbert I am so interested in the next one! I see you're going to post here the next link so I'll keep on the lookout.

Thanks!

Natasha