All Forum Posts by: Yi Zhao

@Fatimah Wilson I will send you some info offline. Thanks.

@Fatimah Wilson I was trying to do exactly what you are trying to do but quickly learned the hard way that this is difficult in this area. I think condos/townhomes/SH homes in parts of PG county (just outside of the beltway) does give you >= 1% cash on cash return (pretty good in this area) and can start you down the BRRR path.

I'm not that much of an expert though and is still learning as well. Hope my experience can help though.

Thanks guys for the interesting/useful input. What is the best area in PG for duplex/triplex/quadplex?

Hi all,

I currently do flips in PG county Maryland. I've been thinking about doing some buy and holds. Seems like from the BP podcasts that duplex, triplex, etc are a good way to go. However, I haven't found any that would even get 1% monthly cash on cash return.

The multi's I've looked at are triplexes around Tacoma park and college park for 350k-ish. Seems like single families around 100k-120k have much better cash on cash return in PG.

Am I doing something wrong?

Hi all, I currently do flips in PG county Maryland. I've been thinking about doing some buy and holds. Seems like from the BP podcasts that duplex, triplex, etc are a good way to go. However, I haven't found any that would even get 1% monthly cash on cash return. The multi's I've looked at are triplexes around Tacoma park and college park for 350k-ish. Seems like single families around 100k-120k have much better cash on cash return in PG. Am I doing something wrong?

Hi all, I currently do flips in PG county Maryland. I've been thinking about doing some buy and holds. Seems like from the BP podcasts that duplex, triplex, etc are a good way to go. However, I haven't found any that would even get 1% monthly cash on cash return. The multi's I've looked at are around Tacoma park and college park for 350k-ish. Seems like single families around 100k-120k have much better cash on cash return in PG. Am I doing something wrong?

It's interesting how everyone here never even heard of doing things this way but I've done at least 7 flips this way by 5 different contractors. I guess it's an option the contractors rather not do but is open to if the trust is there.

@Brian Pulaski I'm really not sure about the details. All I know is the contract agreed it was his responsibility.

@Brian Pulaski Certainly. The contractor was suppose to make sure a morning room was fixed up and passed inspection. I thought he did a great job. The potential buyer had an inspector come in and noticed that the foundation for the morning room was "sinking a bit". After further investigation by a foundation professional, I had to spend $3000 to do further work to get it completed according to Maryland code. 

I've also had issues with plumbing and electricity that to a lay person would look perfectly fine but wouldn't pass inspection.

That's why I wait until the home inspection passes before I give the final 10%. I didn't mean the contractor has to wait until the home is sold. I meant after the home inspection passes.

Originally posted by @Russell Brazil:

Originally posted by @Yi Zhao:

@Steven J. It's hard in many situations to tell if something the contractor is responsible for is up to par until a professional inspector comes and inspects it. This happened quite often, where it looked totally fine to me but wasn't up to code according to the inspector.

If that is your concern, then have your own home inspector go through the property after the project is completed. 

The vast majority of houses, including new construction have things that are not up to code. That may or may not be indicative of the quality of the contractor. It also may or may not be something that even needs to be addressed in the sales process. I can think of dozens of code violations that are perfectly fine for a property that I'd actually laugh at a buyer if they wanted them fixed. 

 That's interesting. Looks like the only fair way is for me to do my own inspection after the job has finished. Do you recommend any good home inspectors that operates in PG county?