All Forum Posts by: Tim Stuart

@gregory m bailey III
This property is between Allendale and Rognel Heights. Are you familiar with those areas? 

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $148,000
Cash invested: $30,000

Just closed on a Turnkey Rowhouse in Baltimore, MD through @Norada. My advisor @Oliver Fu pointed me toward the Maryland market for their CoC returns and low property management costs. This property is a fully rehabbed 3 bedroom, 2 bath with a walkout basement and is currently in the process of a Section 8 voucher inspection, tenant to be placed once the COVID-19 ban allows inspectors back to work. Because the Turnkey provider guarantees rent for the first 12 months, we are cash flowing!

What made you interested in investing in this type of deal?

Easy, no hassle turnkey property that is professionally managed.

How did you find this deal and how did you negotiate it?

Through Norada with the help of Oliver Fu, my trusted advisor.

How did you finance this deal?

Conventional

How did you add value to the deal?

Unfortunately, the appraisal came in lower than purchase price. However, due to our great relationship with our Turnkey provider in MD, he agreed to drop the purchase price to the appraised value in order to keep the deal flowing. This inadvertently increased our CoC returns.

What was the outcome?

Cash flowing property with a tenant in place (in progress - special thanks to COVID-19).

Lessons learned? Challenges?

Maryland has a 2% transfer tax on all properties. Half paid by seller/buyer.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was introduced to the MD Turnkey provider through Oliver Fu, my trusted advisor at Norada.

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $148,000
Cash invested: $30,000

Just closed on another Turnkey Rowhouse in Baltimore, MD through @Norada. My advisor @Oliver Fu pointed me toward the Maryland market for their CoC returns and low property management costs. This property is a fully rehabbed 3 bedroom, 2 bath with a walkout basement and is currently in the process of a Section 8 voucher inspection, tenant to be placed once the COVID-19 ban allows city inspectors back to work. Because the Turnkey provider guarantees rent for the first 12 months, we are cash flowing!

What made you interested in investing in this type of deal?

Easy, no hassle turnkey property that is professionally managed.

How did you find this deal and how did you negotiate it?

Through Norada with the help of Oliver Fu, my trusted advisor.

How did you finance this deal?

Conventional

How did you add value to the deal?

Unfortunately, the appraisal came in lower than purchase price. However, due to our great relationship with our Turnkey provider in MD, he agreed to drop the purchase price to the appraised value in order to keep the deal flowing. This inadvertently increased our CoC returns.

What was the outcome?

Cash flowing property with a tenant in place (in progress - special thanks to COVID-19).

Lessons learned? Challenges?

Maryland has a 2% transfer tax on all properties. Half paid by seller/buyer.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I was introduced to the MD Turnkey provider through Oliver Fu, my trusted advisor at Norada.

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $165,000
Cash invested: $33,000

We just closed on another property, this time in Baltimore, MD! My advisor @Oliver Fu from @Norada introduced me to their new partner in the Maryland market and the numbers absloutey made sense. It is a 3 bedroom, 1 bath with a walkout basement. The rents through this provider in the Baltimore market generally meet the 1% rule and rent is guaranteed for the first 12 months. Their lease renewal rate is 87%, making it very competitive with other markets.

What made you interested in investing in this type of deal?

TurnKey investing works great for my busy work schedule and the convenience of it being an out of state investment.

How did you find this deal and how did you negotiate it?

Paid listing price for It as it was offered through the turnkey provider in Maryland.

How did you finance this deal?

Conventional loan

What was the outcome?

Our second turnkey rental with potentially 3 more to come.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I highly recommend @Oliver Fu and @Norada for TurnKey investments. I completely trust their team because it comprises the best professionals in the business!

Investment Info:

Single-family residence buy & hold investment in Baltimore.

Purchase price: $165,000
Cash invested: $33,000

We just closed on another property, this time in Baltimore, MD! My advisor @Oliver Fu from @Norada introduced me to their new partner in the Maryland market and the numbers absloutey made sense. It is a 3 bedroom, 1 bath with a walkout basement. The rents through this provider in the Baltimore market generally meet the 1% rule and rent is guaranteed for the first 12 months. The property management fee is less than other markets including the costs associated with turning a tenant. Their lease renewal rate is 87%, making it very competitive with other markets. This is a SFR Rowhouse that was completely remodeled as a Turn Key rental. New roof, flooring, bathroom and kitchen as well as brand new mechanicals. These homes are beautifully done, marketing to the highest rents in the area.

What made you interested in investing in this type of deal?

TurnKey investing works great for my busy work schedule and the convenience of it being an out of state investment.

How did you find this deal and how did you negotiate it?

Paid listing price for It as it was offered through the turnkey provider in Maryland.

How did you finance this deal?

Conventional loan

What was the outcome?

Our second turnkey rental with potentially 3 more to come.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I highly recommend @Oliver Fu and @Norada for TurnKey investments. I completely trust their team because it comprises the best professionals in the business!

Investment Info:

Single-family residence buy & hold investment in Hammond.

Purchase price: $135,000
Cash invested: $30,000

Turn key rental managed by professional management company.

What made you interested in investing in this type of deal?

I have more capital than time and I hope this investment will help me earn while I learn but not take away my time from investing in small multifamily dwellings.

How did you find this deal and how did you negotiate it?

Referred by a friend, paid asking price as it was off market.

How did you finance this deal?

Conventional financing.

What was the outcome?

Our first buy and hold turnkey rental.

Lessons learned? Challenges?

So many things learned but basically don’t take anyone’s word at face value. Do your own research. Still very pleased with the investment so far.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I recommend Norada as a turn key provider. They pointed me in the right direction and their advisors are very good.