All Forum Posts by: Beth H.

I have a trust like that.  However, I dont own rental properties in it.  To me the liability would outweigh the benefit.  Check with your accountant or tax attorney. 

@Lamar Wint. Reach out to me when you get to town. I have a rehab of a Row House I started in Baltimore about a week ago.  You can stop by and see it.  Happy Investing.

I don't think you should delete it. It is a learning experience.  Please do a search for street name Eierman for discussion on property in Baltimore. The investor from California was very thankful for all the feedback.  Best wishes.

Lamar may I ask.what street and bn lock the property on?  In Baltimore that makes a huge difference as comps and type of rehab will depend on it.

@Lamar Wint. Most of the reasonable and good contractors are booked months in advance.  My crew only works for me and are busy with 3 projects right now.  Best bet is to check the MHIC website to make sure they are licensed, check judiciary case search to make sure they are not being sued.  Make sure they pull permits for everything, get copies of permits. Verify inspections have passed before you pay for it. I am hoping you are using a local lender who can give you some guidance.  Above all do not give them too much money upfront.

Baltimore is a tough place to invest from long distance. A couple of years ago I met 2 women from Denver who were rehabbing a property in Baltimore and they were flying in every Thursday to check on the property. They still ended up losing money because they paid too much, didn't know the market, and the rehab cost more than their budget. I have flipped over 100 properties in the past 20 years with the majority being in the city. I have had the same crew for the last 10 years or I would not have been able to manage as well. First thing you need to do is make sure the property is really a fix and flip candidate. Go to sdat and see how many homeowners are on that street and block. I made that mistake on my first deal when I was living in VA and didnt know the market. I still own the property as a rental. Best wishes.

Thank you.  A colleague of mine has a line with them but doesnt have much experience so they told her to find an experience partner.  I am trying to decide if it would make sense to do that.

Has anyone worked recently with FOA on line of credit? The line has been approved. They are saying they can fund within 21 days.  Property will be in Maryland.  Maybe Baltimore.

Has anyone worked recently with FOA on line of credit? The line has been approved. They are saying they can fund within 21 days.

@Megan Ghothane. I am very sorry to hear. I have some experience on this. The first time it was a HUD REO and they didnt disclose it and I didnt do a test so it cost me nearly 40k to install a state of the art system that MDE had to approve. After that I always did my research. This sounds like a property I was looking to buy in Baltimore County some years back. I went to the county to research and found a lot of information. When I told the seller that she threatened to sue the county for sharing with me what was on file. So at that point I walked away. Always do a well and septic before you buy. Good luck.