All Forum Posts by: Tyrone Marson

@Ozzy Sirimsi completely agree. I went to a courthouse auction last Friday and a property in Columbia, MD with a $300K ARV and needs at least $120K in renovations. The winning bid was $238K, absolutely insane!

@Jerryll Noorden who would you recommend to do SEO for my website?

@Chad U. Thank you

I came across a property in Howard County, MD that has an open foreclosure case currently. However, the homeowner is believed to have died a few weeks ago with no apparent next of kin. I looked up the case and saw the substitute trustees listed along with the plaintiff attorney’s information. I am interested in purchasing the property, but how would I go about doing so?

@Gage Ealey maximum 3 properties in your personal name for them to do a HELOC.

@Nicholas Potocki awesome! how much is the property now worth and what is the market rent?

@Thomas Ingrao are you low balling just for the sake of low balling, or you doing it because that’s the number that works? If the deal works even at asking why is it an issue to pay that price? I think you have to 1) know your numbers, 2) Build in a safety margin for sure, but there is no need to go overboard with it.. If I see a deal that works for me all day everyday even after stress testing the deal, then I’m going to pay the asking price once it works. Lowballing sounds like you just throwing out a number with the hopes of the owners giving away their property, it’s not going to happen.

@Jill F. Awesome!

@Jill F. How is it managing all the subs yourself? And what’s the average time it’s taking to complete your projects?

@Phillip S. I paid a GC $350 just to come out and write me a detailed bid on a property I never placed under contract. That bid he gave me serves as a template for me to estimate future renovations as labor cost are pretty standard. There is a cost to learning and fast forward to today I have successfully completed my first renovation and moving on to the next one with a lot of lessons learned. While I am no pro, I can walk into a property and have an idea of what it will cost to do the renovations and can confidently place that property under contract prior to engaging any GC. Another strategy I also used was to engage an agent who also did property management and understands what stuff cost.