All Forum Posts by: Julian Allen

@Rachel H. Thanks for the suggestion. There does not seem to be many rehabs going on in this area because most of the people there are long time homeowners in this area. 

@David Michael  Thanks for your input. I spoke with an investor who looked at the comps and stated "one of the properties took two months to sell"  which seemed to be a concern for him although he felt they were solid comps. So that gave me a clue for this individual.  Thanks again 

@Amy A. Possibly. I am trying to get a better understanding. I think @Bill F. and @Tim Youse both have some good input. Each investor has different goals and a different level of risk tolerance even with comps. My initial thought was like yours that flippers wouldn't pass up on it based on the numbers from the CMA.

@Tim Youse Thanks a lot for the input and the explanation and confirming the houses are the exception which sounds like at least the comps may be somewhat accurate. I know they say not to cross a major intersection which was part of the rule I follow. I can see where the numbers would not work for a landlord. I was thinking more along the lines as a fix and flip to a first time homebuyer but it sounds like that market of buyers maybe slim.   

@Tim Youse it is 3 beds 2 full baths with one car garage and fenced in backyard

@Tim Youse and @Ozzy Sirimsi It is a single family detached with a garage and yard. There was a house down the street sold for $165K after renovations and that was 980 sqft.  Another was 2400 sqft and sold for $232K on the same street as well.  That house is in the link you sent above @Tim Youse.  Not sure if there is a difference on which side of Washington Blvd the homes reside on. @Sam Shueh it depends on if you do high-end finishes which seem to be popular in Baltimore. Repair estimate is on the high side and there is a wholesale fee in there as well.

@Etienne Martel I do supply the comps from a realtor (CMA), photos and videos to them and the deal should take about a month to fix depending the level of rehab they chose and their crew. The current landlord did updates to the windows, furnace, and bathrooms. There were two other homes on the block that were fixed up and sold within 60 days in the last 3 months. I think I am going on the mindset that everyone says "if the deal is a good deal the buyers will come." I need to know what is considered a good deal?

Matt P. That is being considered.

@Bill F Thanks for the input. Neighborhood is mostly working class longtime homeowners. So probably a C+ class neighborhood. No eyesores like other parts of the city. But you’re right it comes down to the individual.

When it comes to areas/zip codes to invest in, how picky are most investors especially the fix and flip investors? Is it all about the zip code or all about the returns? I have had a property under contract in Baltimore Morrell Park are where based on the CMA’s ARV it would give an investor a profit potential of about $60k if they put up $115k which includes repairs/wholesale fees/purchase price. The neighborhood has been viewed as stable by some of the investors on BP but it seems like investors in other online local social media forums seem to shy away. What are investors really looking for these days? Are they all chasing the same thing and willing sit idle while looking into over-saturated markets with little to no inventory?

@Account Closed wow smartystreets is a neat tool! I just ran the address through and it says it’s valid. Looks like I am going to have to rat some people out at the post office. Glad that I posted to BiggerPockets! This helps a lot! Thank you!