All Forum Posts by: Yannik Cudjoe-Virgil

@Lamont Marable I wouldnt get too bogged down on the speeding ticket. Your investors are going to want to ensure that they are placing their capital with someone who can deliver. You can either do deals by yourself and build the track record OR you can partner with someone who has commercial real estate/multifamily experience and leverage that gain commits from your investors. The jockey is always more important that the horse!

I second that. High caps at this point in the market more than likely translates to less desirable properties in tough areas. If you are going to tackle those then make sure you have a PM in place that is able to handle those challenges. Needs a special operator for those properties

Never over expose yourself when dealing with contractors. If they have to buy materials then I would probably front 1k to get started depending on the SOW. If its labor only then we negotiate because I understand that they have to pay their subs. Its business. But i never pay in full until all work is completed. 90% of the time if its a job more than 1k I get it in writing. Always protect yourself

Just ask the lender to give you POF at that offer price. Shouldnt be an issue at all!

1 - Typically you can expect around 1% EMD. But may need to go hard day 1 with a larger amount in a hot marker.

2 - From a signed PSA to close is about 60-90 days.You need to have your money primed before your PSA. Don't wait until you have a deal under contract to raise money

3- Yes. Your EMD is part of the downpayment.

4 - That is a very detailed process. You should read Joe Fairless's book on syndication as it was mentioned in a previous post.

Can anyone recommend a lead encapsulation service in Baltimore. I have a multifamily under contract right now and I need to get this property capped. @Michael Krupp @Tim Youse

@Joseph Brown Its not the best area. Generally, the more you go west in Baltimore City the rougher the area. What price range are you looking at? Are you looking to BRRRR or buy turnkey?

@Jamaar Brown Absolutely. Its easy fishing in Baltimore for 2-4 units! Ask a local realtor to pull 2-4 units in the area for you

@Michael Stults the only way you can truly learn baltimore is if you tour the market. it is a very block by block city. For rent comps, I try to interpolate different data sources. For potential vacancies, I would stay away from under C areas as you will probably find yourself in the wrong part of town with high vacancy or economic vacancies. Still a great city for cashflow!

@Robert Nelson Baltimore may not seem attractive to outside investors, but you have to look deeper in the policies in place for current and future development in the core of Baltimore city. You will see its on the path to progress