All Forum Posts by: Nereo Mendoza

Thanks Russell, you are absolutely right, but I still need to find the best price possible even there. do you have any suggestions?

We are expanding and also adding a new story to a townhouse in Georgetown and need an investor-friendly HVAC contractor to do all the duct work and install another unit 

can you recommend a good one with reasonable prices?

I was checking a house in foreclosure in Zillow and the name of the lawyers appeared in the property information, I googled it and found their web page, apparently is common for many of  them to have a list of properties going to auction soon, apparently just a few end up being auctioned, but may be a good opportunity   

@Lisa Phillips is a contributor here, she has a very good group and lots of videos full of information, she focus on Sub 30k  properties, maybe this can be a good starting point, specially having Baltimore close by  

The other option is to partner with an investor and you provide the labor and a little money in exchange for part of the profit, have you tried that?

Rentometer seems to be a good tool, but not sure how accurate and up to date is the data 

if all your leases end at the same time it means probably you will be repainting and fixing all houses at the same time, plus all your sources of income can stop at the same time

what it the reason to align all of them at the same time?

people with children tend to move during the summer to avoid changing schools in the middle of the year 

hello Kathy 

There is a lot of information here, but you would need to take the time to read it and keep learning for a while

set you keyword alerts to include flipping and the areas where you want to invest

try to find out about real state investor clubs in your area, there you will find a lot of information and useful contacts 

be aware of Real state gurus, there is a lot of people charging you to the recruit you as wholeseller

Welcome Johanna

As you already probably know, here is plenty of information and good people to connect with 

Try to read as much as possible and try to attend some of the investor meetings 

There is a very good one close to you, I believe they meet once a month in the Bethesda Womans Club,  plus there are some others in Tyson's Corner and Downtown DC

My advice to be taken seriously as wholesaler is to understand very well the numbers your investor buyer needs, and present only reasonable opportunities, your ARV has to be realistic using real and relevant comps (close in distance, close in time and close in characteristics) and the spread must be enough for him to pay: interest, rehab costs, realtor commissions, etc and still make a decent profit selling quickly. The moment you offer a business with wrong numbers and wrong diagnostic of the property you are loosing a client immediately, remember they had been doing this for long time and if they are new you will contribute for them to get broke and probably that will affect your reputation as wholesaler

I hope you the best 

Nereo Mendoza

PD: Please let me know if you come across something in Kensington

@Account Closed  but only if you know well how to rehab and control the possible issues, is riskier and thus more profitable.

One a last note, you said you will live in the house, remember your standards of living can be superior to the ones typically required by the renting market, be careful to don't over expend in the rehab if your market will not require it (if you install granite counters and SS appliances maybe you will not necessarily be able to rent at a higher prices than houses close by, but on the other hand you may be able to rent quicker and not have vacancies for long or have a bigger pool of candidates to choose, which is always good) 

Best luck

hello @Alan Charles 

@Lisa Phillips has a very good blog and a podcast where she told some of her experience in Baltimore

best regards

Nereo