In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

The process is relatively the same. 

Many lessons have been learned firstly is you can’t be too nice or trusting and second is, don’t wait to figure out the refinance and cash out process and until you are almost done with rehabbing the property because currently going through a very lengthy, cash out refinance ordeal at the moment as I’m trying to get financing terms finalized as we speak.

Scaling up is a big leap, but breaking it down into small, actionable steps—like building a deal pipeline or starting conversations with potential investors—can help keep the process manageable.I’m based in the PNW (Seattle), so if there’s anything I can do to help or if you’d like to collaborate on deals in Washington, feel free to reach out.

Does it make sense to cheap out over the few thousand dollars it will cost to go through a proper escrow and title process?

We are working to help people evaluate their situation and manage properties while these court actions are in process.

I invest out of state in Pittsburgh from DC and self-manage everything, but it's taken me years to establish the right contacts, develop seamless processes etc. that allow me to handle everything remotely with confidence.

According to a 2016 tax sale for Anne Arundel county, MD process document the rate is now 12% from there website.

I'm in the process of building my portfolio into the program but am concerned on it being a turn-key property accounting software.

Even if you do not mess up any steps in this lengthy process, you are looking at AT LEAST 90 days before you get your asset back.