All Forum Posts by: Kenneth Cheston

@Tony Allen - I house hacked a duplex in Overlea in 2021. People have a stigma against the city, but if you're a local then you know where to invest. I would say you have an advantage over other investors because you can use the lower interest rate home occupied loans. It's okay to buy something close to turn key if your mortgage is paid by others (or close). I used direct mail... sent out about 100.. got only one response and that ended up being my purchase.. Propstream is a good platform to use for this.. Feel free to DM to chat.

 Hey @Logan Green, whats going on. I bought my first duplex in 2021 as my primary in Baltimore City. Lots of lessons learned but it ended up being a great thing. Feel free to DM me if you wanna chat over the phone.

Thanks for sharing, Shane. Sounds like you avoided a nightmare. 

Hi Tyler - I got a HEL about two years ago and it's helpful to notify the appraiser of any recent work done. If the roof was recently replaced, boilers, furnaces, etc. I even told the appraiser that we pulled a permit and replaced the entire main conduit into the building. Stuff like that they may not realize or know about. Who knows if something like that even affects the overall number but the more positive insight, the better. Good Luck!

 Congrats on your success Greg! I’ll message you. Thanks for reaching out

 Thanks Sara!

 I’ll text ya!

Thanks Chris you are exactly right. I am direct mailing but I would not be equipped to peruse a deal at the moment. Will send out a round of engagements this week to investors to get initial feedback or commitments then reappoarch lawyers. Depending on feedback we may be able to just do a multi-member LLC. Still very fluid at the moment. Thanks for the insight.

Hello BP,

I am building a syndication that targets Value Add C+ Class 8-12 unit Multi-Family Garden Style or Workforce Housing in B+ class neighborhoods in Baltimore City. 

Accomplished Thus Far:

1.) Syndication LLC formed, 2.) Preliminary Investors List created with initial reach outs, 3.) Multiple Security Lawyer Consultations 4.) Chosen lender with established terms IF no seller financing, 5.) Website and Direct Mail Campaigns created (prop stream - have had success with SFH), 6.) Investor's package created with Multiple Deals Underwritten, Baltimore City Analysis, and about Team Summary.

In the Next Weeks:

1.) Partner with experienced co-sponsor, 2.) Send out completed investors package to Investors List and seek commitments, 3.) Continue launching direct mail campaigns, networking with brokers, contacting property managers, and responding to rental listings in property class to generate deal leads, 4.) LOI on more than 10 deals.

Seeking:

Syndicators inside and outside my market who will talk to me. I am seeking partnership and will be a favorable co-sponsorship as I will do most of the heavy lifting. Website DK Syndication. Thank you!