All Forum Posts by: Yannik Cudjoe-Virgil

@Rashad Nelson I would advise the water bill be looped into the rent in baltimore city. For example: I had a deal under contract (Great deal with nice cashflow, the tenant was paying 1,450 per month in rent) and I had my title run a quick check on the property. The tenant had an 18,000 dollar water bill on the property and had not payed since 06! Like you said, in Baltimore the water does not shut off. Therefore the seller could not convey the property without paying that 18k water bill. Missed out on a buyer. Hope that helps you make a decision 

@Nick H. I would work backwards from you long term goal. If your goal is passive income then you would need cash to buy real estate. Maybe you can use a portion for a rental downpayment then the other on a flip. Use the proceeds from the flip to buy another rental and keep going from there. But unless you have a second source of cash to put into real estate, you are going to have to do some sort of active income (i.e. flips or wholesale) to generate short term capital to deploy in rentals. Hope this helps!

@Account Closed there are tons of areas that are BRRRR properties in Baltimore. Northeast Baltimore is a great part of baltimore in my opinion. You should be able to find a 40-50k property with an ARV of 135-160k. Let me know if I can help!

@Bendrick Smith I think that block is a solid area. Its not too deep into baltimore city. It is near the county line. Property values are not too strong but I think it is a good rental area. Hope this helps!

I usually factor in 2-3% for closing costs. My number is usually close. Hope that helps!

A successful investor told me a long time ago when I wanted to get into real estate in 2016. He said most flippers don't take the next step and get into commercial real estate. They get stuck in that space and don't see a bigger play in commercial. I flip properties as well and I agree that it can burn you out. I would encourage you to move into commercial and buy and hold

@Ned Carey How do stay up to date with what will be available when the bidding process starts? Do you just have to check back in with the list when that date comes around? I just downloaded the list 

Tough decision but I think you should be honest and tell her. Agents work for free until they close and they want to protect their time so they will ask to sign an agreement to do so. There are can a lot of tire kickers in real estate. Are these agents that are sending you deals on the listing side or the buyer's side ? Moving forward I would try to build a relationship with an agent and ask them to send you automatic listings that fit your criteria. @Ilya Z.

I understand. In my opinion don't bring a realtor in if its off market. You can do transactions off market. PM me if you need some clarity on what to do Re: when you get a property under contract

Hey Courtney - bringing in a realtor may be a good idea but I would also expect the realtor to be paid a commission. Not sure if you plan to flip or wholesale these deal but that is going to cut into your profit/numbers. What is your strategy when you identify these opportunities?