All Forum Posts by: Vernon Bond

Yes,  I am wholesaling this 

The occupant is the previous homeowner (lost in foreclosure) and My Attorney informed me that since she is not a tenant, then she does not have tenant rights. 

Great Location and Opportunity in a Hot Riggs Park Neighborhood. Similar Comps in Riggs Park are selling for 550K+. The homeowner will have to be evicted and she does not have tenant rights. 

Not strapped for cash and deferred payments allows me to do Volume and There are many banks that structure their loans this way. (this is how my current bank does their renovation loans and this is how structured my business for growth). their protection is that they limit the loan to 6-9 months and they are the first position lien holder. This is a good for doing multiple deals.

Hello BP Family, I'm an investor in Washington DC and I recently started buying rental properties in Baltimore. I just went under contract with a 4 bedroom home in Fells Point that needs a total renovation. I have a lender that I work with for renovations  in DC but unfortunately they do not lend in Baltimore. Any recommendations for a Baltimore lender that does No-Monthly payment interest loans (interest deferred).  It is important that the payments are deferred as I am currently working on other projects in DC/MD. 

Hello BP family, 

My uncle owns a home in Washington dc and currently rents the home to a tenant who does not have a lease agreement. I assume the tenants automatically fall under the month-to-month lease agreement????. Well, my uncle wants the tenants to vacate so that he can remodel the home. He knows that the tenants will not be excited about leaving so he wants to give them a formal notice to leave in accordance with the law. any guidance? 

I'm currently piecing together a large renovation of a 1200 sqft home in Fells Point Baltimore near Patterson park, and I will be adding 550 sqft (2 level rear addition) to the home.   I am in need of a licensed and experienced framer who can build the rear addition. I already have architectural drawings for the entire project. I currently have a team of contractors that I work with but my team is currently busy working on 2  of my projects in Washington DC. Since I am expanding to Baltimore, I would like to begin building a Baltimore team of contractors. Does anyone have any recommendations for a good Framer that I can speak with?  I know this is like asking a famous chef for his/her secret recipe but I'm hoping my BP family will help a fellow investor.  FYI I am ready to Hire ASAP

Hello Bigger Pockets Fam, 

It's just your neighborhood investor with another question about the "Buy Rehab Rent Refi" strategy. I believe this will be my next strategy to use in my portfolio of investments. I have done quite a bit of research on home refinancing but I am a little confused on how soon one would be able to take cash out of their newly renovated home after its rented.  

For example, if I purchase a home for 50K and put 40K into it, and the home is worth 150K ARV. I would now have 40% equity. I would then rent the property out and refinance. Lets say this whole process takes 3 months, how much will I be able to take out in the refinance ?

I look forward to hearing the feedback! 

Thanks everyone. I will let you know of my results.