All Forum Posts by: Martinis Jackson

Thanks! @Nicole B. Will be in contact with you soon. 

Thanks @Brian Pulaski. Our contractor gave us the 75k budget based on a flip, so we're pushing for a quality product for that price and hoping the ARV reflects the renovation costs.

Thanks! @Tim Youse We are working on renegotiating the scope of work down to a better price point now (fingers crossed). 

BP Friends

We have closed on our first investment property in Baltimore and can't wait to get started. 2 bedroom 2 bath ((we are adding a bathroom) 1200sqft. 30k cash purchase with a combo of line of credit and private financing. ARV is 140k-160k. Rehab is looking around 75k (line of credit), which leaves little room for error. We want to use the BRRR Strategy but are afraid if we get a low appraisal, we may not be able to get all of our money out in the refinance. So, maybe it makes more sense to flip. Received an ARV appraisal already from a hardmoney lender who we felt didn't justify his numbers. Appraisal came in at 135k, which isn't far off but wasn't good enough Hardmoney lenders to approve the deal.

Looking for any suggestions for portfolio lenders in Maryland who will cash-out refinance a cash-flowing rental property with no existing mortgage. Also, does this property make more sense to flip?

Thanks everyone!

Greetings BP Network: Does anyone have any referrals for reputable companies that handle rollovers into self-directed IRAs? I'm noticing that not all the big investment corporations handle these types of investment vehicles. Any advice would be much appreciated. Best regards

Greetings BP Network: Could someone offer recommendations for licensed and bonded GCs in the Maryland area? Looking to do a rehab very soon.

Thanks @Gabriel G. I have given HML some thought, my only issue seems to be that the ones I've spoken to don't want to finance small deals (I'm guessing because the ROI isn't high enough for them). If you have some suggestions though, I'm definitely open to any opportunities.

@Thomas Giganti Thanks!

Does anyone have any recommendations for banks in Maryland/DC that will provide rehab loans to an LLC? I've heard (from BP Podcasts and etc) about some banks who offer 15-20 year fixed mortgages if you open an account with them and provide 20% down on the loan. Any leads would be great.