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Hopkins Project » fliprent
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  • Finally My Case Will Be Heard

24th July 2011

Finally My Case Will Be Heard

Something is finally happening with the Hopkins house.  Unfortunately it is costing me a ton in legal fees.  I’m so glad that there will be some sort of resolution soon.  This investment has been a complete nightmare.  I will be writing more on my blog to update everyone and besides..its been a loooong time since I’ve written on this property.  For now, I will speak with my lawyer before I start putting too much information in print.

For now.. Happy Investing friends!

posted in Complete Rehabs, Hopkins Project | 0 Comments

5th December 2008

Winter Remodeling Fun

Most of the electric is done on the Old E Baltimore project and the meter was installed a week ago.  I’m constantly reminding the contractors to turn off the lights when they are done for the day.  The last thing I need is to add more bleeding to this project.  Hvac and plumbing repair is close to being complete so its about time to get it section 8 ready.  This means making sure all the trades are up to code, banners installed, no paint chips exposed (lead), outside railings front and rear, windows are caulked, doors are installed, fridge, and oven are working.  If it still sounds like lot of work, it is.

Still nothing more from the city on my Hopkins area rehab house.  It looks they want to blame the economy for the fact that their projects are so far behind and lack of funding.  I say karma may have something to do with it.  You reap what you sow.  EBDI has made a mess of this project and they walk around like they are doing people favors.  They would have been behind schedule economy or not.  You can read more about that house here. 

posted in Hopkins Project, Old E Baltimore Project | Comments Off

21st November 2008

Some Progress is Better than None.

The Old E Baltimore project is now moving forward.  I hope to have this thing rented by mid December.  Considering my recent health, I decided to bring in a contractor “friend” to finish the project.  Notice the quotes…  One would think that today’s prices would be much lower, but by the looks of his quote, maybe he’s still back in 2005.  Needless to say, I will be working those numbers down tonight directly in the reply. No need to rework the contract until we come to an agreement.  Most of the electrical is completed and the electric company installed the meter and brought power lines to the house.  Plumbing needs completion along with a long list of repairs that I will break down in another post.  Most of the repairs will be required for Section 8 approval.

Still no word on the Hopkins area project.  I assume they want me to go broke paying legal fees and mortgage payments but I will finish it and rent before I allow that to happen. 

posted in Complete Rehabs, Hopkins Project, Old E Baltimore Project | Comments Off

23rd October 2008

Still Out of Commission

Unfortunately I have not been able to post in a while due to health issues.  I’m still not exactly sure what is going on.  I have been through many tests, to no avail but I’m still here… there’s a plus. 

Quite a bit has occurred since I last posted concerning the Hopkins Project and also the E. Baltimore project so hopefully sometime soon I can update you all on the full details.   While I have a few seconds before my head gets too crazy I’ll give you some updates. 

 The Hopkins Area Project

The city has made me a ridiculously low offer for the house…as if you expected better.  Obviously my attorney is now involved and it’s going to end up in court I assume.  The offer is less than what I paid to for the house in the beginning believe it or not.  Not to mention all the money I’ve poured into this house.  If you are new here and you want to read more about how the city can try and take your property and not even pay you  fair market value, follow the link.  Throw in the fact the this house is being rehabbed but they are trying to use a codemnation loophole.  Talk about abuse of power and stepping on the little people.

Old East Baltimore Project 

Since my health issues started around the same day I closed, I have not been able to do much on this one.  However, recently I have started working here.  The plumber is roughing in new gas lines and fixing minor plumbing issues left from the previous contractor.  The electrician is working on a new service. Permits are pulled and things are going somewhat smoothly.  Believe it or not the city is gotten themselves involved with this one as well.  Coincidence?  I think not.  This one is not even in a redevelopment zone that the city nor Hopkins have any documented interest in.   The drama continues.  I’m wondering if this whole real estate business is even worth it, at least not in Baltimore anyway.

posted in Complete Rehabs, Hopkins Project, Old E Baltimore Project, Real Estate Investing | Comments Off

8th July 2008

The Appraisal is Convenient?

The Hopkins area project saga continues as the appraisal was done today.  They city assigned two “independent” appraisers to come out and appraise the property.  The letter says that they will base their offer off of the highest of the two appraisals.  I find it interesting that they send them both out on the same day at the same time.   This is supposed to be more “convenient” for the homeowner.  So now they are interested in convenience?  So let me translate this…We don’t really care that you are already rehabbing the property and bringing value to the community. We don’t care that it is on a preservation block which means that we are not taking the whole block for roads, utilities or any other public use.  We want your property so that we can rehab it and sell it for our own profit.  We are interested in acquiring your interest in your property and we can use eminent domain if we have to.  All at your convenience.  Gee thanks!

I hope that in the end I will be writing about how well thay handled this transaction.  Maybe they will do whats ethical and pay me for my INconvenience.  That’s what I call convenient!

posted in Hopkins Project, House Flipping | 1 Comment

23rd June 2008

Must this process be so difficult?

I’m sure this is only the beginning of a painful process but I finally received a letter from the city that they would like to acquire my interest in the Hopkins area project.  I have no idea why it took so long but at least I now know for sure that they intend to acquire it.  During my research, I read that I was supposed to receive a certified letter from the city prior to an appraiser contacting me.   I assume an appraisal will be the next item on the agenda.  Just to add to the confusion it appears that the post office either lost the letter, delivered it to the wrong address or something else happened.  The letter was dated back in May but the first delivery notice that I received was today.  The funny thing is that someone was here but the doorbell never rang.  I don’t think that the mailman even bothered getting out of his truck.  Can anyone just do their job? 

I am not sure what’s going to happen from here but I’m hoping that they will compensate me fairly for all the money and effort that I have put into this property not to mention how poorly this situation was handled from the beginning.  In one hand I have a bank that gave me a time limit to complete the rehab.  In another hand the city telling me that I must complete the rehab according to the vacant property violation.  A third hand the corporation representing the city trying to keep me from rehabbing the property.  Meanwhile Im paying monthly a monthly mortgage,  contractors to pay, insurance to pay, etc, etc etc.  What a mess!!  This all could have been avoided before I acquired it but that’s a story for another post.  Is there a such thing as ethics in politics and government?  Maybe in the end they will fix this mess and I can move on. 

posted in Hopkins Project | 1 Comment

3rd June 2008

1 Down 2 to Go

The HVAC rough in inspection went well.  The inspector seemed to like everything he saw; from what my contractor told me anyway.  Plumbing should get started today which will require more of my involvement.  I will need to pick up the fixtures for the tubs and shower.  Lets hope things continue along smoothly.  The electrician will be starting next week as well.  I will post some pictures once all three trades are roughed in and inspected. 

I’m still waiting for the city to ratify my East Baltimore project so I can get started in that one.  It seems like its taking forever and I’m really anxious to get going.  This hurry up and wait business is never fun.   You rush to get all your stuff ready to go just to wait for the powers that be to do their part.  That’s the government for you.  

posted in Hopkins Project, Old E Baltimore Project | 0 Comments

28th May 2008

Back in Business…

I’ve waited as long as possible and the Hopkins Biotech area project is back in rehab mode.  The HVAC work has begun and should be ready for rough in soon.  I still have not received anything from the city.  As far as I’m concerned there is no reason to assume I ever will.   I realized a long time ago that I cannot trust anything that I am told or even given in writing from the development corporation that is responsible for the area project. 

I feel a lot better moving forward again anyway.   Each day that my property sits, I loose money and it’s sat for most of the last 10 months.  I can no longer afford to keep paying out and not getting anything back so I am forced to move forward.  If they decide that they are going to acquire it, they should pay fair market value based on the renovations and COMPS for rehabbed properties in the area.  I am prepared to fight tooth and nail for anything less.

I will be showing fewer pictures but I promise to show some shots after major phases of the project are completed.  I should be starting the Old East Baltimore Project soon.  Once that happens, I plan to focus my blog on that project from start to finish.      

posted in Complete Rehabs, Hopkins Project, House Flipping | 0 Comments

11th April 2008

I’m going Stir Crazy over this flipping house.

This thing with the house in the Hopkins area is driving me crazy.  I’ve had this project on hold for two weeks now and I’m loosing my mind.  Actually this property has been on and off for the entire time that I’ve owned it due to the organization/city attempts to derail it.  I’m not sure if I should proceed to finish it or if I should wait until I hear from the city.  The letter that was recently sent from “the organization” stated that I should receive something from the city within 2 months from the date of the letter.  There is a lot going on with this area and I am hearing rumors from different people about what they want to do with this block.  The latest rumor is that they want to rezone it to commercial, and sell the properties to doctors so that they can run their practices from them.  The property is directly across the street from the main hospital campus, so it is in a prime location.  A couple years from now, this block will be worth a mint. 

House flipping is a business but I would actually consider moving into this house if I can keep it.  The problem is that the city wants it.  They don’t care that I am rehabbing it or that I would make it my primary residence.   What they are doing seems unconstitutional, since I am not sitting on it like a lot of investors.  The ordinance clearly states that homeowners on ”preservation blocks” will remain and only properties that are not up to code or in vacant status will be acquired. This property was vacant when I bought it and needed a full rehab.  This is what I do, buy vacant properties and rehab them.  They can clearly see that I am raising the property and they are using every tactic to get me to stop.  Does this sound like a government that is interested in improving the quality of life in the city or one that is interested in making money?

 You can follow along with this project by clicking on the Hopkins Project category or clicking here.

posted in Complete Rehabs, Hopkins Project, House Flipping | 0 Comments

3rd April 2008

Framing Completed - Bulk Heads will be framed after trades.

brick work on rear of houseThe framing was completed about a week ago and the brick work is done on the rear.  For some reason I forgot to take pictures of the staircases inside.  Actually, I was meeting with other investors at the time and then followed them to see another property.  They are new to the house flipping business and wanted to see one in action.  I will snap some more shots this weekend and post them next week.  If you look up at the top, you can see where we added brick.  I plan to stucco the rear to give it a more modern look.  If my budget runs too tight I may decide to paint or install siding.

framing for new windowAs some of you may have noticed on the first picture, we cut out and framed two windows on the rear addition.  They look very nice from the inside and bring in a lot of natural light.  They will show well come open house.  The natural light compliments the open floor plan and the windows as soon as you walk in the front door.  The area where the windows are located will be a sitting area behind the kitchen.  There is enough room inside for a table and chairs.  The block of abandoned shells behind the house may eventually be torn down to build Strip Mall.  At least that’s what I think I saw on the plans.  It seems that things are changing everyday here.

On a somber note, I stopped work this week while I sort through this mess that I am in the middle of with the city.  I received a letter from them pertaining to his property and the phrase “eminent domain” was contained in it.  Actually the letter did not come directly from the city, but instead from the organization overseeing this project area.  I’m keeping my fingers crossed on this situation because it has been a mess from the beginning.  We will see how this thing plays out soon… I hope.

posted in Complete Rehabs, Hopkins Project, House Flipping | 2 Comments

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