All Forum Posts by: Patrick Miller

Thank you for responding...I’m just looking into making a list to mail to for wholesaling purposes and was unsure of how if they have fines adding up from the city, how that is handled if they were to agree to sell. If it would be worth the headache when the properties are only most likely 10-20k .

my question is if you have a seller who has unpaid code violations from the city, and you enter a contract to purchase, what happens with the violation fines? Does he pay them after closing? Do you become responsible for them? Do they go away once title is transferred? Will title have issues because of the violations? 

1612 N Monroe St Baltimore MD 21217

Investors and homeowners welcome!

$34,900 - 1500-1600 sq ft of living space 3BR 1BA or 4BR 2BA

Comps: (active)

1.) 1923 Fulton Ave N Baltimore MD 21217 ($45,000)

2.) 2724 Parkwood Ave Baltimore MD 21217 ($40,000)

3.) 2307 Reisterstown Rd Baltimore MD 21217 ($39,900)

4.) 1923 Division St Baltimore MD 21217 ($39,900)

5.) 1836 Harlem Ave Baltimore MD 21217 ($34,900)

**Buyers agent- 3% commission PLUS $650 bonus to agent with full price offer.**

Close to:
-Major Hwys 95/83
-Carver High School
-Coppin State University
-Baltimore Zoo
-Supermarkets
-Mondawmin Mall
-15 minutes from downtown inner harbor/casino/shopping

LANDLORDS:
**EXCELLENT long term - high cash flowing investment!**
-rental rehab estimate : $8k-$10k
-rent potential : $900-$1200/month
Comps:

1.) 1612 Appleton St Baltimore MD 21217
3bd 1.5ba condition 7/10 $1,000/month

2.) 1629 N Monroe St Baltimore MD 21217
3bd 1.5ba condition 5/10 $950/month

3.) 1040 N Stockton St Baltimore MD 21217
3bd 1ba condition 8/10 $1,100/month

4.) 2539 Francis St Baltimore MD 21217
3bd 1ba condition 9/10 $1,250/month

5.) 1921 Division St Baltimore MD 21217
3bd 1ba condition 7/10 $1,200/month

FIX AND FLIP INVESTORS:
**OH MY! What GREAT potential this property has!**
-this home has great bones in a great area

-Keep it a 3bd 1ba - full remodel - $25k-$30k = ARV $115k - $120k
-Comps:

1.) 1216 N Bentalou St Baltimore MD 21216
3bd 1.5ba 1544sq ft
Bought for $18k - sold for $139k

2.) 833 N Bentalou St Baltimore MD 21216
3bd 1ba 1410 sq ft
Bought for $10k - sold for $101k

-Convert to a 4bd 2ba (basement) - full remodel - $35k-$40k = ARV $125k-$130k
Comps:

1.) 2003 Whittier Ave Baltimore MD 21217
4bd 1ba 1660sq ft
Bought for $25k - sold for $115k

2.) 2018 Whittier Ave Baltimore MD 21217
4bd 1.5ba 1568sq ft
Bought for $44,500 - sold for $113,900

3.) 2125 Braddish Ave Baltimore MD 21216
4bd 2ba
Bought for $18k - sold for $135k

HOMEOWNERS:
**Perfect home for a FHA 203k loan!**
Great neighborhood

THIS PROPERTY WONT LAST LONG! TAKE ACTION TODAY!

Vanessa 

(443)-608-1735

[email protected]

*owner is a non active real estate agent. 

Looking for a little advice. 

Happy holidays everyone. I'm very new to the world of real estate but I want to try and get a seller financed deal. I had a bit of a setback in life and went through some financial hardships and had to move back to my parents house for a little, but I'm ready to go back out on my own now. I don't want to go back down the path of renting but I know I wouldn't qualify for any type of bank or conventional financing. And id be open to a duplex/any multifamily property in the county im looking at, but they are few and far between...so basically I'd like to try and find a home owner (Single family or townhome) whom would sell their home to me and hold the note (seller financing I believe it's called?)

I bought a list from listsource.com with 368 names and address' of absentee owners with 90-100% equity in the county I'm looking at, and so the next step is to send a mailing, right? I'm looking for suggestions on what exactly to say in the letter to get them to call...is it wrong to mention I'd be willing to pay them above market value for their home since I kind of would be because of the interest if they financed it?

And secondly, I'm going to pull the phone numbers as well and try and call and get in contact with them, any suggestions on how that conversation should go? I know I have around 5-10k to put down and can afford 1600-1800 a month, what price range should I be looking in (my guess was around 200k?) And how could I structure an offer/deal so that it is a win/win for both of us. A balloon payment after 5 years would be okay as long as there would be enough equity by then so that the LTV would work with the bank and I wouldn't have to add money to the refinance deal. Any suggestions or advice would be great, thank you!