All Forum Posts by: Patrick Shep

@John Larson

unless you get a huge ROI on this, I wouldn't even think about it. I wouldn't see a scenario where this would be a good idea. I would just tell them it's not going to happen in the foreseeable future. If you made any deal it would bite you in the butt…. Remember tour investment is a business and your profits would be eaten up by this and one extra bathroom will not get you significant higher rental rates.

I’m currently living in Maryland and I am looking at investing in properties, out of state.

I need to set up an LLC and was wondering if I need to file in Maryland or do I do it in the state I will buy the property in?

Thanks!

How is the market in the DMV for wholesaling, considering how high and competitive the market is?

Would love to connect with any local wholesalers.

@Ivan Soto I’m looking to invest in utica. I would love to connect and discuss your strategies.

@Russell Brazil you’re right. I’m looking for my primary home in silver spring and have lost multiple houses with extremely aggressive offers. Offered 25k over on three last one and still lost

@Brian OMahony I sold my place in Alexandria, Va using a flat fee service. It only cost me $250 to list. They put it on MLS, Zillow, Redfin, etc. If you've completed a real estate transaction or two, it's pretty straight forward. Worst case, you use or lawyer to review contracts. I saved 10k in paying commissions.

And hire a progressional photog and you’re golden my friend.

@Russell Brazil hyattsville is best. But you won’t find much for that price point. Value will continue to climb with purple line.

How much is a modest cash flow to you ?

@Charlie Anne

1br/1ba Alexandria, VA in 2009 for 95k

Put about 15k into it. Sold for $165k in 2014. Kind of wish I still had it to hold and rent. Now worth $200k

I’m going to be closing on my primary home on the next few months. I’m doing a conventional loan.

I now want to invest in a multi family unit with 20% down. I want something that will bring in 800-1000 a month after expenses. I have found several in the area I’m looking at. Will I have problems securing a 2nd mortgage for this ?

Thanks!