All Forum Posts by: Mike Stup

Hey @Tyrone Marson, I was able to acquire this property on Auction.com. Bid $203K + Buyer's premium + closing costs = ~$220K.  I am actually building this one myself and plan on moving in to make it my principal residence because of how nicely the townhome sits on the property in relationship to the community and Columbia in general.  End unit, private, tranquil backyard in the heart of Columbia, MD. I hope this helps.  Take care Tyrone.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $213,665
Cash invested: $47,000

9/29/19: 2nd project in MD, 1st hold. Love this spot in Columbia, MD, about 1 mile from Columbia Mall. 3BD, 2.5BA, 2,200+ sqft end-unit townhome. Rehab starts this week. Adding 4th BD and 3rd full BA = 4BD, 3.5BA. Adding kitchen island & deck (me). ARV $320,000 for refi(private money folks...what's up?!). Learned the importance of being patient while bidding online. Eventually the home will be sold to someone who may over pay, or you will get it when your number connects and the seller accepts the bid as the reserve. It helps to track the home data that's important to me on a spreadsheet.

Investment Info:

Single-family residence fix & flip investment in Lusby.

Purchase price: $147,000
Cash invested: $18,000

9/29/19: 1st flip in MD has begun. 4BD, 2.5BA, 2,088 sqft. 1,000+unfinished basement. ARV $265,000. Acquired home through online auction with cash on 8/29/19. Holdover owner-occupant was a challenge...30 days to vacate. Learned how important diplomacy and empathy are in order to take the least-expensive route.