All Forum Posts by: Account Closed
Account Closed has started 21 posts and replied 1305 times.
Post: How to not lose $40k doing a fix and flip
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
Maybe you're supposed to negotiate with the wholesaler now??? Maybe your contractor is overpriced??? 1350 is a small place. Its also clearly in good shape. 35k goes a long way when you're doing minimal stuff....filling a pool consists of jackhammering the concrete, filling it with dirt and smashing it down. New roof? Maybe/maybe not...any evidence of leaking?? Electrical work?? Couple thousand. Hvac? Plumbing? Got ductwork already? No structural modifications?....so you know...basic rule in contracting, take the labor/materials...then double it to the customer. Are u 30/40?? Sure. 75? No way.
Post: Glad to be a new member and finally make my first post!
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
electrician is a good thing to be.
Post: Medfield/Woodberry or Station North?
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
I have two houses in remington right now that i might discuss. 3/1s 27 and 2800 block of huntingdon. Nice places with good size. Aka, ideal location. As far as the rest??? Station north forget it. Too close to greenmount/biddle st on the wrong side of 83. Avoid. Woodberry/medfield...woodberry borders park circle...right where parkheights/reis/druid park merge...aka seventh circle of hell. Medfield is the only id consider. Probably very pricey.
Post: Putting an offer on a multifamily...help
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
Lesson no 1. Complacency costs money. Do u know about renting? Renting in baltimore city? Court? Rental law? Eviction? Repairs? Construction? Lead paint? Qualifying a tenant? Water bills? If you do how well? Dont know baltimore city rental law..have you read the law or taken others word for it? Your lender told you 25 percent is required..are you sure?.how many have you talked to? What are the terms? Who do other people use that do what you're doing? Why?
There are about at least a thousand questions one must ask getting involved in renting in baltimore city for the first time. Complacency is not doing all you can to get the knowledge required to be successful. Get it.
Post: what income to you expect from a more expansive flip?
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
Not enough infor
Post: First JV flip success ... kinda of
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
What exactly did the contractor bring to the table to earn half the profit if he got paid in full for the work? Hire another contractor and keep it all.
Post: Help, can't get it rented, what am I doing wrong?
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
1. You don't require deposit upfront. That's ridiculous for multiple reasons. Deposit is to secure the property for the tenant, once the application is approved and offered to the applicant.
2. You said taint....hah hahaha
Post: Should I Start A Property Management Company?
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
No...work for one maybe. Know what you're doing before you do it, not after
Post: The Nightmare Next Door
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
No,...no roof nextdoor=shitload of water nextdoor=basement water.
Post: Help - Water in Basement - Carpet soaked
Account ClosedPosted
- Investor
- Baltimore, MD
- Posts 1,368
- Votes 688
1. Water should not be coming into your basement under any circumstances, Short of a flood.
2. Check the following: 1. Sump pump (blockages, float get stuck, not powerful enough to handle water volume, not throwing water far enough away from house, check valve loose)...one you have eliminated all sump pump nonsense, go 2. Water heater leak? Air conditioning condensate pump not working (the rain may have just been a coincidence)...the go to 3. Rain, must find entry point....under doors? Outdoor water drain to sump pump clogged/doesn't exist? Cracks along base of exterior wall? Crack in basement wall?
...see where that gets you...
P.s. I hate water