All Forum Posts by: Kenyatta Donley

Quote from @Travis Timmons:

You haven't invested in real estate until you've said, "What the hell am I even doing?!?" or "Why did I think this was a good idea?" a few times. Nice job on pushing through and keeping a good attitude. We've all been there...If I'm honest I'm kind of there right now but it's a little easier after you get the first one behind you.

 I feel like I'm in a bad relationship. Some days I am excited and on top of the world and other days its exactly what you said! I've had more than a few "I putting this thing up for sale"  moments. As I mentioned I dont have the hard money clock ticking but just as bad is my own pressure. However, I think there are a lot of political and economic winds in my favor and despite the worries (which is not always a bad thing) I think this is going to be a great first of many. 

Quote from @Joe Norman:

Way to take action! Be sure to keep that job site secure. Fake cameras are one option, or you can use the Ring Jobsite Security System that they sell through Home Depot.

I assume you're doing a Lead Free Reno since this is a full gut anyway?

 Yes my contractor put in a jobsite set and we secured that rear window and added the fence. Definitely a lead free reno. The house was down to the bricks when I purchase it. So that was a plus. we were able to in with a clean slate. 

Quote from @Sara Frank:

Quote from @Kenyatta Donley:

Update: so it’s been a couple of months and i am chugging along. As many of you know finding a good contractor is a **** show but i ended up going with a referral after interviewing several.

There are lots of challenges in Baltimore and materials are super expenses but I m committed to completely the project. I also experienced my first break in. Some clown stole about $1000 worth of plumbing supplies. It could have been worst. My site has been robbed. So i guess i m really official now! 

I am using my own cash/credit cards on the project. So i have no loan payments or hard money timelines breathing down my back. However the pressure i m putting on myself Is probably just as bad! 

I m based in the Philly area. So i can get to Baltimore in about 90 minutes. So it’s a distance project but not so far that i can’t put feet on the ground. I actually just met my contractor in person for the first time this week. We have been doing everything electronically and the crew has been working over a month. We exchange lots of texts, email, video and early morning calls from Home Depot. 

So it’s my first project and i am a anxious wreck but all in all things are pushing along. 

 Looks great -- good job!! Definitely consider installing even fake security cameras, they will help to deter unwanted visitors. Baltimore can be tricky but you have the right approach in going all in and not succumbing to analysis paralysis. 

 Thanks! We immediately put the fence up in the back and working to get initial inspections done. That way we can get those walls closed up this week. Thank so much for your response/comment. 

Someone how I got my dates wrong and though registration was opening on 5/1. I was super disappointed to realize that it actually 5/10! LOL

Update: so it’s been a couple of months and i am chugging along. As many of you know finding a good contractor is a **** show but i ended up going with a referral after interviewing several.

There are lots of challenges in Baltimore and materials are super expenses but I m committed to completely the project. I also experienced my first break in. Some clown stole about $1000 worth of plumbing supplies. It could have been worst. My site has been robbed. So i guess i m really official now! 

I am using my own cash/credit cards on the project. So i have no loan payments or hard money timelines breathing down my back. However the pressure i m putting on myself Is probably just as bad! 

I m based in the Philly area. So i can get to Baltimore in about 90 minutes. So it’s a distance project but not so far that i can’t put feet on the ground. I actually just met my contractor in person for the first time this week. We have been doing everything electronically and the crew has been working over a month. We exchange lots of texts, email, video and early morning calls from Home Depot. 

So it’s my first project and i am a anxious wreck but all in all things are pushing along. 

Quote from @Demetric Blyther:

Hello!

Extremely new to the forums. I want to know if there are any investors heavily investing in the Baltimore MD area. I am currently looking to pick up 1 or 2 properties there and would love some pro insight from seasoned investors. Even open to partnering up on a deal if that would be worth the time. 

I have zero advice for you. I just bought my first property in Baltimore. It’s a full rehab on a OK block. As others have suggested I focused on a block that didn’t have a lot of vacant and appeared to have a good amount of long term home ownership. 

Also as others have suggested I purchased a property that appeared to have been someone’s investment and they ran out of money or changed their mind. So it has good bones and the house was completed gutted/demo and cleaned out when I purchased it. I m
going into a clean slate.

I am finalizing my contractor contract tomorrow and will begin to pull permits hopefully this week. 

So I m figuring it out as I go along on this first project. However I m happy to connect and share what I am learning along the way. 

Also for referenced, I m based in Philly. Spent alot of my childhood in MD and can put boots on the ground very easily with family and friends in the area or I can be there myself
in about 2 hours. 

I have been waiting for this post and of course I missed it until the email came out. Doesn’t matter…my room is book and San Diego is a wonderful town for a conference. 

Quote from @Robb Silverstein:

can we use as a tax write off? I'm new to this so pardon me if its a dumb question. 

I m not a tax professional but I plan to write it off. this feels like a business management related expense to me. 🤷🏾‍♂️  

Just a quick update. Settlement was 2/22/22. Everything went fine other me pushing back on some settlement fees. As a lot of you probably know some of these companies are loading up on junk fees in your settlement/closing costs. Unfortunately the way the deal was structured I had to use this company. So they kind of had me . I still made a small fuss anyway. Then I got over it and moved on quickly.

Still working on GC estimates. I m behind schedule due to some weather and being under the weather myself. So hoping to get this moving this week. 

Quote from @Ozzy Sirimsi:

Quote from @Kenyatta Donley:

Hi...I am a fairly new member to the community but have been following the podcasts for a bit. I just wanted to take a second to share that I got my first property under contract. I am based in Philadelphia area and purchased a property in Baltimore. It was through an auction site that is managing a good volume of properties in that area. I took a last minute shot not expecting to win and well...I did. Baltimore is super hot right now and slowly gentrifying like many urban cities. So I am excited. The transaction and communication has been super smooth and we close next month. 

So right now I am just lining up my next steps. I have reached out to get insurance coverage while I rehab and also just reached out to get an inspector into the property to give me a full report of the condition and any concerns. Then from there I hope to start working on a scope of work and find me a good contractor to begin rehab. That's it! 

That's my story. I just wanted to contribute something to the community and hopefully encourage someone who is sitting on the sidelines. I was stuck in analysis paralysis most newbies and one night I just said screw it and submitted a bid. I will say the week before I had also put in an offer to a wholesaler which was pretty aggressive and I didnt expect to be accepted. The point is I made a decision to start taking some at bats and the Universe rewarded me. 

I am still working through my numbers and plans but will keep the community updated!

Congrats!!!

if you need any material such as cabinets, flooring with good pricing, I can give you names.

Great…thank you!