All Forum Posts by: Richard Carlton

PM me I know a few that do good work and are willing to work in PG County.

@Jeremy Paris PM me when you have a chance, I would like to ask you some questions.

What kind of contractor are you looking for?  PM me if you want specifics as I live in, work in and invest in St. Mary's.

 Have you looked into any online auctions?  Two of my current projects were purchased online due to the fact that there were no deals to be found otherwise?

 No, the one that I was speaking of is located in Charlotte Hall.  The adjusted price when re-listed was $105,000 the final sale price was $150,000.  I have not been paying too much attention to the Suitland area lately as I have three houses going on right now and available funds are tight until I recoup some cash.  Once I have more cash or access to funds, I will be back on the market and I do look that far north (up to Annapolis) when I have the cash to look for deals.

Your observation from my perspective is correct that there is an increasing number of "flippers" driven by HGTV. Here in Southern Maryland a split foyer that needs a full rehab and mold remediation received 47 offers recently after it was placed back on the market after being pulled off the market in the winter. If you have the access to cash I feel that there are better deals in auctions (courthouse and online) than what can be currently found in the MLS.

Congrats on the purchase of the property! I know that you are feeling excited and possibly overwhelmed all at the same time. If you are interested in some of the contractors that I use I the local area send me a message. We might have seen each other at the SOMDREIG meetings. 

Welcome to BP!  

Every deal is different.  Also how much profit are you building into every deal?  Are you following the 70% rule or have you been forced to change the number due to your local area being more expensive than the average?  Hundreds of houses? I'd call their bluff, but that is me.

Welcome to BP @David Willett,

I am a Realtor in Southern Maryland and an investor with both rentals and flips (Hard Money and Mortgages to pay for things).  You are in the right place to learn, between BP and the SOMDREIG.  If you have any questions feel free to drop me a line.