All Forum Posts by: Rob Price

Quote from @Jack Seiden:

Quote from @Rob Price:

Hello, I’m looking to purchase a fixer-upper townhouse in the Baltimore area. My main question is how do you find properties that aren’t necessarily on the market? With the way the pricing for houses are so expensive right now, and properties that do go up for sale are getting bought by people for thousands over asking price due to the low inventory, it just seems extremely difficult to find a deal that is worth it to brrrr. Any advice at all would be much appreciated. 

Tbh most brrr’s end up more costly then they are worth, at this point in the market cycle I’d buy turn key cash flowing property’s. The other risk with Brrr’s right now is by the time you sell the values could be significantly lower and rates significantly higher. I’d strongly advise being extremely conservative in this market.

Appreciate the input. I’m just worried about basically what you are saying. That whatever I do buy, is largely overpriced and then in a few years if prices do happen to go back down then I’m in a bad predicament. Also feel like it’s hard to find something that cash flows well considering how high everything is. My original goal is to purchase a distressed property for cash, or mostly cash, to keep my payment as low as possible to allow me to cash flow once I do get it fixed up. I understand if this market timing isn’t great for that plan though. 

Hello, I’m looking to purchase a fixer-upper townhouse in the Baltimore area. My main question is how do you find properties that aren’t necessarily on the market? With the way the pricing for houses are so expensive right now, and properties that do go up for sale are getting bought by people for thousands over asking price due to the low inventory, it just seems extremely difficult to find a deal that is worth it to brrrr. Any advice at all would be much appreciated.