All Forum Posts by: Jackie Murray

 Hi Nina

I watch the MLS and its a fine line between holding your ground and letting it go. I actually overpaid on that one but I was able to get great pricing on the work. Also was really lucky on the sale to a local fraternity president being walking distance to Towson University who just loved the house.

Investment Info:

Condo fix & flip investment.

Purchase price: $175,000
Cash invested: $30,000

This condo started as a flip with a simple kitchen renovation but the view of the Baltimore Harbor is so beautiful I decided to keep it. Not really a cash-flow asset but now valued at $250k and I put that equity to work. This location anticipates appreciation over the coming decade. Baltimore is quickly gaining momentum with new modern development increasing demand.

I believe it works best when you have a plan on paper.  Find a good draftsperson who can draw up the floorplan.  Ask for checkins when people arrive at site and updates throughout the day with photos.  Ask for phone calls when theres a decision to be made.  Check work as much as possible.  Do not pay anyone until the scope section is fully complete.  Communicating schedules so people dont dissapear on off-grid vacations mid job..  

Yeah I barley got out alive on that one but I'm starting my 3rd next week. It will be a BRRR next to the architecture school in Baltimore. This time I am full time PM!! What have you been working on?

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $218,000
Cash invested: $110,000
Sale price: $395,000

Independently sourced, funded, designed, budgeted, project managed, listed. Sold above target price after a refi and 1 year rented. Rated 5 stars on Air BNB by 15 reviews.

What made you interested in investing in this type of deal?

I trained myself through work experience as an employee of architects and builders to prepare for these projects.

How did you find this deal and how did you negotiate it?

This was an MLS listing needing major work located in a popular area walkable to downtown Towson.

How did you finance this deal?

Hard Money with my own cash down.

How did you add value to the deal?

Opened up the floor plan, relocated stairway, finished the bonus upstairs room, added all new HVAC, plumbing, electric. Added 1 new bath. Remodeled bathroom and kitchen with new pantry. All new windows. Rebuilt front brick stairs. Added curb appeal with new front and back decking, wood railings, stained and painted, new soffits & gutters, simple landscaping.

What was the outcome?

Made about $30k

Lessons learned? Challenges?

Definitely a few lessons. Mostly concerning contractors and my availability to project manage.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes made a few great additions to my team.

Looking for private money to help with downpayment for acquisition & buildout on a small commercial project. This could be a private money loan w/ monthly interest and principal repayment at term. Or co-owners who would have profit share. This is a highly profitable spa resort concept.  I am a designer/builder and will manage the permit and construction process. My cash assets are too low to finance this myself right now, looking for partners. Please contact me for more info at 678-231-8541. Thank you!