All Forum Posts by: Lindsay Schwebke

Sure, I live in NM and was attracted to the long distance investing idea for better returns.  I have learned that I feel more at peace with the properties that I have nearby.  I bought a few properties through Norada, and am working on selling them and investing locally.

$1650 was was the last tenant paid.  They stayed 1 year, and it was through a voucher program with the City of Baltimore.

Thanks, Lindsay

I bought a turnkey property from CR Maryland in Baltimore at 455 N Robinson. I have it listed with an agent on Zillow for $170k. It rented for $1650 and is renovated. It's not currently rented right now as I hope to sell. I want to sell for cash, so I can close my LLC and only have local rentals. My mortgage is $156k and I have to pay my Realtor commissions, that's my bottom. I am ready to sell - pictures are on Zillow. Maybe there is a buyer here and someone else will carry the note for them? I am worried the note will be called if I do a sub to.

And worst case, maybe someone can recommend a good property manager in Baltimore if I can't get it sold.  Thanks.

Check out Las Cruces as well!

Hi Larrain, I run into the same issues.  I seem to get closer to getting the numbers to work when I look at properties on the west side/Rio Rancho but you are right, rents are low for the overall price here. 

Thanks, Jon - good advice.  I double checked and unlike our standard Realtor contract that does address a walkthrough this one does in a roundabout way (if property destroyed by fire or casualty, etc... there is a 10 day provision prior to closing). Fingers crossed! 

I'm newer to flipping and have bought 2 properties off the MLS and one from a wholesaler. I'm about to close on my second purchase from a wholesaler - like in 2 days. As a Realtor, I am used to being able to do a final walkthrough before closing. The wholesaler said the seller will surrender the key at closing - so no final walkthrough. This is a light rehab and tight budget property for me. With the crazy storms this week, and super cold temps we are not used to (0 degrees), I just want to make sure I'm not walking into frozen and leaking pipes. Is it fair for me to walkthrough a wholesale deal before final purchase?

Good advice, Glen!  Just a word of caution on the small duplexes, etc.  If you are financing the property appraisers have been checking zoning.  ABQ updated their zoning in 2017 so a lot of the small duplexes and triplexes in the older residential areas are non conforming and need to be "grandfathered-in".  Unfortunately I have run into that a few times this year.  Some can be approved by zoning, but it can take time (4-6 weeks) and another took nearly a year. Good luck, and keep trying and you'll get one!

Thank you, Wayne.  I wondered if that was the case.  I appreciate your response!

I'm relatively new to investing so please forgive my ignorance.  I'm wrapping up my first flip and will have funds to purchase another.  I found a property I like and there is active bidding on Auction.com.  However, when I drive by the property it seems like the renovation is complete.  How does this happen and does it mean it's not worth bidding on... or if I got it that it would legally belong to someone else? I'm not sure how the auctions work.

Thanks for your help!