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Old 09-10-2017, 04:12 PM
 
Location: USA
255 posts, read 120,517 times
Reputation: 85

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Thanks for looking into my threads.

I did look some REO properties for owner occupancy in south of Baltimore, MD. Here are some questions.

1) How do we know, how much is the renovation/fixing component before making an offer?

2) Is there a way to find good licensed contractors to work on REO fixing?

3) How do we find out, which bank owned the subject property?

Thanks sharing.
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Old 09-11-2017, 09:35 AM
 
Location: The Triad (NC)
26,876 posts, read 57,944,657 times
Reputation: 29313
Quote:
Originally Posted by GNCamry99 View Post
1) How do we know, how much is the renovation/fixing component before making an offer?
2) Is there a way to find good licensed contractors to work on REO fixing?
Not knowing these things, not having the personal experience with repairs or contracting...
is the main reason to NOT undertake these sorts of projects.

What happened to buying in Catonsville to be near the UMBC shuttle bus?
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Old 09-11-2017, 08:04 PM
 
Location: USA
255 posts, read 120,517 times
Reputation: 85
Thanks for sharing.

I am still looking. I saw some properties, but we did not like them. I am looking for built after 1980, not having big yard, safe/livable community. I find some REOs, so I opened this thread .

Thanks for sharing.
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Old 09-17-2017, 07:24 AM
 
Location: Baltimore, MD
68 posts, read 46,675 times
Reputation: 22
Hi,
I think you should take advice from an experienced real estate agent. You can also take advice from a bank advisor.
Thanks!!
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Old 09-23-2017, 02:32 PM
 
Location: USA
255 posts, read 120,517 times
Reputation: 85
I checked with my Realtor, he says giving contractor reference impact his license. I did check with Lender, who gives 203K loans. He too says, he do not have anyone to recommend.

What you think about Homeadviser.com?

Are there any websites to use to get contractor info?

Thanks for sharing.
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Old 10-12-2017, 01:00 PM
 
Location: Randallstown
4 posts, read 1,194 times
Reputation: 15
Biggerpockets has a forum for Baltimore Investors that has really good information. Only go by referrals! Do not get any GC information from anyone you do not trust (ie. Craigslist). Also, your realtor can pull the deed and see which bank(s) owned the property.

I would schedule at least 3 walkthrough's with the GC. You develop your own scope of work (as detailed as you can make it) and have them submit a quote. Biggerpockets also has a book that you can order that details how to quickly do an "renovation estimate" on properties. You can look into that as well.

Good luck!
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