All Forum Posts by: Beth H.

I own one on this block and street that I purchased before I knew the market well.  I wish I never did. They go for about 50k renovated. If I were you I would get out of of that one fast. A couple years ago hedge funds were paying $5k for properties on this block.  

I use Dixie Tree service. He is licensed.  (410)9631300

Make sure there are no judgements and ask for indemnification for anything that happened prior to the sale. Also in MD I would be concerned about potential lead lawsuit if the properties were build prior to 1978.   You may want to speak with lawyer before you sign an agreement.

This is still a very hot market. I invest in PG and picked up a property last week.  No contingencies and a very large deposit on a full gut job.  You should have a contingency if you do not have additional funds to close the gap as transfer taxes are high here. Find a good agent and most likely look for a property investors wont be interested in like a light rehab. Also networking will help you find deals. I get leads from networking. Good luck.

@DL Coker No I did not buy in other MD counties before going out of state to invest.  The ones I would be
interested in are in the metro areas but they are too competitive and favor bulk buyers.

I have purchased tax liens in Baltimore City since 2001. I dont buy much there anymore and focus on other states.  Be very careful about buying liens there even those on assignment auctions.  If you end up foreclosing on them not only are you responsible for the attorneys fees but also for any liens and fines that were placed since the day you purchased the lien.  For example fines like tall grass, boarding up windows etc which triple after 90 days.  Since you are not the owner you are not notified and only see it when you pull lien sheets.  I had one with over 6k in liens at time of foreclosure.  I know Ned.  He is a good resource.    Good luck.  

Hello! Welcome to BP.  I also live in Montgomery County. The 5k wont get you anything here.  It is very competitive and bulk bidders get priority over single lien buyers. Even in Baltimore City with online bidding it will be hard for you to get a lien on a decent property.

I am a hard money lender in Maryland and I do these loans all day long here. It is a niche market and my default rate in this space versus fix and flip is much lower to almost non existent.  Find a local hard money lender like myself who will do amortized loans for rentals.  Good luck.

I agree wholeheartedly with Sue K. With the red flags.  I accepted someone into one of my units with good job but bad credit who had to move in right away and you know the rest.  I got the 2 month security deposit and first month rent and that was it. It took me 6 months to get her out and she even subleased the unit during eviction.  I no longer accept people who need to move now, cant get utilities in their name and want to pre pay rent.

I am sorry to hear about your issues.  We have all been there at some point.  It happened to me with a contractor 5 years ago.  Next time also check judiciary case search for any pending litigations before you hand out any money.  Since I am in the area do you mind sharing the initials.  I saw a lot of complaints about a guy whose name started with an A on the FB group.