All Forum Posts by: Rich Baer

Please give me a call or text. Still available as of this moment although people have been offering on it.

3320 Parklawn Ave (21213) (2 bed/1 bath) Fully renovated porchfront home (rent ready). Nothing like it in this condition for this price (67K) in the area. Beautiful block. Pictures from prior owner rental online. On lock box. Call me or text with any questions. 

@David Wurzel

I hope you are a fan of the TV show "The Blacklist". Its one of my favorites. Just say to yourself "What would Red do?" For the BP members who are fans, they know the answer and they are smiling now.

@David Wurzel

@Wendi Glover

The first thing you need to do is to work on yourself. You need to overcome your inner voice telling you that you can't do this. It's hard to do. You must convince yourself you can succeed. Without your inner confidence and determination there is no sense in going down this path. Speak to successful people and listen to videos that inspire you.

Next you need to find the money. Once you have people or Banks standing behind you it will be much easier knowing the price range that you can select from. When you are seeking the money you must be confident and assertive. So many people give off the vibe which says "you don't really want to lend me money" when they speak about themselves to Lenders. Tell them you are going to succeed and they can help you get there.

Once that is taken care of, study the properties in your price range. Learn the areas. Learn what it takes to be successful in that niche. It can be done. It can be done by you. Believe in yourself. No one else will.

@Alex McLean

You are to be commended for your plan. Line up your lenders first. Then identify an area that fits your criteria. Study hard and learn the areas through agents and other investors. Find out how and why they are succeeding. Find someone, such as myself, to give you guidance. Be persistant and diligent.

@Neil Sinha

The foreclosure is based solely on the debt owed on the first mortgage. The second mortgage does not come into play. You are correct in that the second is extinguished if properly notified in the foreclosure case. 

@Mau Pan

If you are buying from a Bank that has already foreclosed on the property the Bank will be responsible for the fees. However, before you sign the contract make sure the Bank is not sticking you with all costs (closing and HOA/Condo fees).

If you are buying from the Courthouse steps check with the foreclosing Trustees and most certainly read the foreclosure advertisement. In Maryland, the Buyer at the Courthouse steps is responsible for an amount set by statute. It is somewhere around $1200. Anything more than that and the Bank will pay.

The closing Attorney will have it all worked out and put on the settlement sheet. You are not responsible for anything filed against the foreclosed owner after settlement in Maryland.

@Josiah Stacy

You get on the phone with the creditors. You explain that the house may be lost in tax sale along with their lien. You are trying to buy it and if they will work with you at least they get something instead of nothing.

@Josh Thomas

I had a similar thing occur with a fire escape walk down we i owned on 33rd Street. The exterior walk down was made of wood and was partially crumbling. We needed to replace the steps in question. The inspector came out, told us what was needed, and we proceeded to do it after getting a permit. Another inspector came out to examine the finished project. He said it was not up to City code regulations. We argued that we were told to it this way. He said the first inspector was wrong and we had to start over before we could get the final approval.

To make a long story short. Get your permit but have the head guy in the permit/engineering department put into writing what is to be done.

The City of Baltimore is a wasteland of useless people and they enjoy putting you through difficult experiences.

Run from this and don't look back.