All Forum Posts by: Savannah Yingling

Hi, I am based in South Florida -- looking to buy first rental property, looking out of state at Markets like Columbus, Memphis, Pittsburgh.

Targeting cash flowing properties on the east coast. Looking to connect with folks familiar with these areas or similar.

Hello Everyone, 

I am looking to start my real estate investing journey. I have about 50k of liquid money I have access to. I am a professional athlete and do not necessarily know which city I will be in next year. Ideally, I wanted to start with a house hack of a duplex or triplex. However, since I do not know how long I'll be in each city I now feel this is not the best strategy for me since the house would have to be my primary residence for at least a year. Do you think a fix and flip is a good strategy to get me in the game or are there better options for my situation? Or is a house hack still the best way to get started and I just have to wait until my job location is more stable?

Thank you, 

Taylor

Are there websites that will give me the current rental rates for 2, 3, or 4-bedroom units in the different parts of Baltimore City, Maryland?

Radon is a colorless odorless gas that causes cancer. It is highly recommended that you get a radon test before buying or selling a home! 

Please keep in mind even a level 4 is the same as smoking 8 cigarettes a day or getting 200 x rays. 

Get your home tested by a professional in your area. 

Any questions about radon please let me know and I will help answer. 

thank you 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $255,000
Cash invested: $40,000

Turnkey Lavish Living! Remember this property isn't just a house; it's a lifestyle upgrade waiting for YOU - its new owner. With 2 spacious bedrooms, 2.5 luxurious bathrooms, a versatile flex room, AND the ultimate safety feature – a dedicated safe room – spanning over an impressive 2565 square feet, this home is designed to exceed your every expectation.🌟There's more! Park your vehicles with ease in the expansive 2-car garage, ensuring convenience and security for your prized possessions

What made you interested in investing in this type of deal?

Always looking to wholesale and/or flip a property as investors. This property was originally under contract with a different investor based on information shared from our realtor. The investor was unable to secure funding for the project and had to walk a few days before closing. Because we're always looking, off-market and the occasional on-market deal, when the numbers work, we take a look. The numbers worked and we made an offer.

How did you find this deal and how did you negotiate it?

We leverage a realtor relationship to bring us properties that fall through last minute or meet our given criteria. The numbers worked on this property and our focus was get it under contract. $240K would have been the ideal buy price; however, the upside was still enough that the project would yield at least a $30K profit once renovated and sold. Seller paid all closing costs and that was substantial.

How did you finance this deal?

We used a hard money lender and a private money lender for closing and renovation startup costs. We paid the interest and holding costs.

How did you add value to the deal?

"Add value" - modernized the property to mimic new construction homes going up. Put in new LVP flooring upstairs, removed wallpaper and popcorn ceilings, fresh paint throughout the home, new sinks, faucets and hardware on all cabinets, resurfaced existing tubs and surround, added all new appliances (except the built in microwave which had been barely used), updated electrical.

What was the outcome?

Property is showing well and is currently on market for sale.

Lessons learned? Challenges?

Always list the property for sale at the ARV. It's better to get above asking than to list and get no offers.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes - connect with me and I am glad to share more.

Hello! I’m Aaron from Pasadena, MD. I’m in the beginning phases of my real estate journey. I’m 30 years old, working a full time job doing HVAC while learning and networking about all things real estate related. My current goal is to purchase my first cash flowing rental property by the end of 2024.

During the peak of the pandemic there was a stretch of time where my work kept everyone home. During that time I realized just how much LIFE we miss out on by spending 40+ hours at work every.single.week. I realized I needed to find a way to earn a living while also having the ability to live the life I want. I was house hacking at the time, before I even knew the term, and thought "maybe this could be my full time job?". I started looking for rental properties but was quickly discouraged at the super high prices of everything in my area. I didn't think it would be possible for me to get into REI at that point. Fast forward to now, I've got a much better paying job, more funds, and prices seem to be coming back to a point that I'd feel comfortable with.

I’m looking forward to continuing this path, utilizing the resources here and connecting with others!

Hi, everyone. I am an investor in the Maryland/DC/Virginia area. I have a request for Baltimore properties. I have stayed away from Baltimore in the past because of ground rent and some other things. So, my question is how does ground rent show up on the sdat information for a purchase? I am seeing some delinquencies that show foreclosure, but the numbers don't make sense unless there is some sort of ground rent or non-mortgage loan tied up with the properties. Any help is appreciated. Thank you. 

Deciding between selling vs renting out a single family with 5 bed/3.5 bath. I don't have to sell but I will be out of state so I will need a property manager. Will it be more beneficial as a short term rental since it's somewhat close to Washington, DC? How about making it a mid-term rental? Are houses in that location more appropriate for long term rental? 

For the said property the Zillow Rent estimate is $3500/mo ;  rentOmeter average is $3700 and median is $3800.

Hi everyone, 

My name is Tolu. I am 25 years old and I am looking to start investing in Real Estate. I am a software engineer and have saved a decent amount of money about $60000. I read How to Invest in Real Estate by Joshua Dorkin and Brandon Turner and I am interested in learning more about the BRRRR, House Flipping, and Buy and Hold strategies.

I am hoping to buy my first property this year and I am putting myself out there to learn, network, and possibly get some mentorship. I am willing to learn as much as possible so please suggest materials and conferences

Thank you