All Forum Posts by: Christina R.

@Tim G.

- thanks for the response! So here's the rub - I have not done a wholesale or buy and hold/flip deal yet with a title company to actually ask them for help with this. I think for my first DM campaign I'd like to do as much as I can myself with it, to fully understand as much as I can, before outsourcing it off with the hopefully-% of my first deal profits that come from said campaign.

Good afternoon BP Nation ,

I've done a few searches and may not be using the "correct' terms to get the hits that are out there. Apologize if this information is already available - I want to do my first DM campaign in January and I'm wondering if I can narrow down a list by zip code(s) and then subdivisions (as well as types of properties). Any list service providers that one can drill down with these specs?

Thanks!

@Robert Haworth

- Hi Robert, I think you were at the BWI Meetup last Wednesday. I would suggest (at the next BWI Meetup) getting up during the into part and stating the areas you are looking in. There are a lot of B'more County/City investors that attend that meeting that can network with you.

As far as B'more city- there are TONS of "no go areas." The kicker is they are often right next to (or right across from) "go areas." The best way to find out that, as you have hinted, is to drive around. Lots of 2% rule reachability (if that's actually a word) but due diligence is a must.

Also, if you are planning on borrowed funds other than private lenders, your exit strategy and ARV will determine much of what will available. High foreclosure rate and extremely slow foreclosure process and lead lawsuit activity in the city . . all this comes into play with lenders (B'more was hit hard in the crash).

@Stacey Williams

- Greetings, Stacey, and welcome to BP - you will learn a LOT just by setting up keywords and reading through the subsequent posts that come in (may want to have a dedicated email address for that). I'm seconding what

@Tyrus Shivers

@Account Closed

@Paul Timmins

@Eric Black

have said above. Start going to meetings. It's about networking and building relationships. Hope to see you at the Baltimore Washington Meetup (2nd Weds of every month - and it's free).

@Robert Taylor

- you've come to the right place to learn. I think there is a REIA in Hagerstown, there is also the Baltimore REIA (Towson), MAREIA (Ownings Mills) and several Meetups around (BWI Meetup - Columbia, and one in Arbutus (Real Deal Meetup). The last 2 are free, MAREIA has a free general session monthly and I'm not sure about BREIA but check out their website.

As always, BP rocks so set up some keywords and start learning. You will be on information overload (and it's FREE).

@Chris Burgess

I PM'd you earlier today to your inbox.

@Nicole A. cant wait to hear about this tomorrow night

i also want to know if one can file a memorandum of contract in Maryland!! :-)

I know you Don't Mess with Texas ( hubby is from there) :-)

@ronnie sparrow -I have yet to do my first wholesale deal...I thought if you have the property under a contract of some sort, purchase and sale or contact of assignment, then you have equitable interest and with opening escrow the buyer is committed. .. Obviously I'm missing something.. Is it a matter of who closes first?

@Jeffrey Mark

the Baltimore city tax lien sale is in May. You can go to www.bidbaltimore.com to check out the website used to place bids. You will have to pay a $100 set up fee and of course have money in an account to bid during the actual online auction in May. Being completely new to this last year, and wanting to stay within a certain price point, I decided to go with the "leftovers" that were available 2 weeks after the online auction --- this allowed me to avoid the $100 fee. You will have to go to the tax office on Holliday to buy over the counter. They only take cash, cashier's check or you can use your debit card for a $2.50 transaction fee, I believe. THey will not take credit cards or regular checks.

Realize that when you buy the lien you will then be responsible for any taxes, charges, violation charges, attorney's fees, etc., if you decide to foreclosure (and the owner can redeem at any point up to the judgment). I spent $1000 on the lien and will be in for about 4-5K on my property depending on how long it takes for foreclosure to happen. I hear there is a "new judge in town" which means that the foreclosure process on these liens is moving much more quickly than in the past.

The number one piece of advice I can give you is to drive by the properties you are interested in after you do a Google Earth review and some other due diligence. You want to make sure you have something still standing there before you buy it. Because if the owner doesn't redeem, you are out your money if you don't foreclose and attempt to recoup all, more, or at least some of your costs.