Hello BP. I took the the plunge again... I just acquired 5 properties in Baltimore and want to talk strategy on how the BP community would approach this project. 

NOTE: Catch/Caveat I need to get $55K of my cash back in less than 40 Day to avoid some penalties

Option 1. Take'em all on at once with Hard Money Loan?

Option 2. Take on 2 or 3 properties with Hard Money for construction loan, Refinance into conventional, pull cash out and use the money to complete the other 2

Option 3. Sell them all as an Investor Package for $250K

Option 4. Your Thoughts 

Looking for interested serious investors also.

Here are the details.....

4 of the 5 properties are owned outright the 5th property is under seller financing

We have four of the 5 appraisals completed. The properties are in the John Hopkins area and there is a lot of reno going on in the area with John Hopkins and Habitat For Humanity.

Package Purchase Price: $120K
Combined Construction: $385 (estimating high)
Combined Estimated ARV: $850K - $1.1M

1. Property 1 : Seller Financing (Converting to 2 -Family as a hold for $2300)

Appraisal Results Pending
As-IS $35-45K (TBD)
Construction $125-$150K
Estimating ARV $225-$250K

Some Encouraging Comps on Property 1 

($247K Multi-Family)

There's also an older/less modern 3 Family unit directly across the street at 1841 N Caroline St.

$249K (869 W Lombard St.)


$449K (2209 E Lombard St)


$280K (259 S Ann St)


2. Property 2. (Selling)
Actual Appraisal Conducted
As-IS $30K
Construction $80K
ARV $215K

Encouraging comps in the area that recently sold for property 2
https://www.realtor.com/realestateandhomes-detail/2200-E-Madison-St_Baltimore_MD_21205_M93876-20243( $334K This was converted to a multi-family but 6 min walk from our property)

3. Property 3 (Hold and Rent for approx. $900 - $1000 Mo.)
Actual appraisal conducted
Sales Price: $15K
AS-IS: $12K
Construction $25K
ARV $174K

4. Property 4 (Selling)
Actual appraisal conducted
As-Is $5
Construction $75K
ARV $177K

5. Property 5  (Selling)

Actual Appraisal Completed 

As-IS $12K
Construction $65K
ARV $200K

Encouraging comps in the area for proerty 5 that recently sold

Thanks for your thoughts lets talk strategy....