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5716 Blaine Street NE, Washington, D.C. 20019

DEAL SUMMARY

This property we found by driving through a neighborhood that we frequently invest in, Deanwood. Upon researching the status we discovered it was a short sale whose listing had expired. We contacted the listing agent and made an offer for $140,000 with an appraisal contingency. The offer was accepted and we paid for an appraisal. While waiting on the appraisal we discovered that the property was to be condemned. Due to the condemnation status and the results of the appraisal ($85,000) we were able to get the bank to approve a short sale price of $80,000. During the construction period, this neighborhood saw a huge increase in sales and we were able to sell this property as the most expensive property in Deanwood.

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838 21st Street NE, Washington, D.C. 20002

DEAL SUMMARY

This deal came to us by way of an estate sale. Executor of the estate needed to sell the property to pay for family medical bills of the deceased. The property was old, uncared for, had a wet basement, leaky roof, and broken windows, but it was right up our alley. It is located in a transitional neighborhood that still sees a lot of crime and sits parallel to a few housing projects. This was going to be a tough sale, but still a good project. We ended up dropping the price over 100k and still did ok. The investor did well as we went over our 12 month term and had to pay a penalty. We were still in the green!

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564 48th Place NE, Washington, D.C. 20019

DEAL SUMMARY

This house was listed on the MLS as a short sale for 180k. We made an initial offer for 120k due the size and condition. Seller countered at $140,000.00. Initial contractor estimate was 110,000.00 until we discovered fire damage beneath the drywall in the kitchen all the way through to the roof on the second floor. Contractor had essentially rebuild that side of the property. It took 6 months to finish because of permit delays, architectural drawings, and inspections. We used all private money to fund this deal. In the end we didn’t do as well as we would like because of the layout the property did not sell well. But our investors were happy!!

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5735 Bugler Street, Capitol Heights, MD 20743

DEAL SUMMARY

This house was a short sale that a friend of ours was trying to sell. She was defrauded by some “investors” and was told that they could rent the house out for her. When we submitted an offer for a short sale it had already foreclosed. We waited for the property to be relisted on the MLS as a foreclosure. It was initially listed for 90k. We made an offer for 60k and the bank rejected. We countered at 75k and the bank rejected again. Because we had history on the house we just waited it out. It went under contract with another investor but they never closed it. The bank relisted it for 80k. We made a strong offer for 62k with 10k earnest money deposit. The bank took our offer. Turned out to be one beautiful property. We ended up selling to another local investor as a rental.

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4216 Clay Street NE, Washington, D.C. 20019

DEAL SUMMARY

This deal came in as a wholesale from another investor. He was wholesaling the property for 80k. We made an offer for 56k based on the as-is comparables and property condition. He accepted the offer and we closed in two weeks. We ended up doing an addition to add a master bedroom on this house. We finished the basement and added stairs as the only way to the basement was from outside. This property was heavily marketed using social media and sold its first day on MLS.

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3900 Dogwood Trail, Edgewater, MD 21037

DEAL SUMMARY

We stepped outside of our comfort zone and found a waterfront property for fifty cents on the dollar. After 2 years of delays from Chesapeake Bay Preservation, Army Corp of Engineer Approval, and Forest Conservation issues, we did not make any money but the investors sure did!! It was painful for us to write this one!!

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4409 Hayes Street NE, Washington, D.C. 20019

DEAL SUMMARY

Hayes St came to me as a lead from an agent that was going to list it but knew that we would find some value in doing a renovation if we could pay her on the back end when the deal sells. The homeowner was behind on her payments so we did a title search to make sure she didn’t have any liens and made all of her back payments. We took over her mortgage payments until the house sold. This project ended up taking too long because of permits but we still gave a new homeowner a great deal and gave our investors more confidence!

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4410 Maple Rd, Suitland, MD 20746

DEAL SUMMARY

House was an estate sale we found in the MLS. It is in a subdivision very close to Andrews Air Force Base where President Obama boards Airforce 1. The area gets a ton of traffic which makes this deal an easy one to buy, renovate, and sell. So we thought. Upon demolishing the house we found out that the entire façade had water damage and needed to be rebuilt. Thus, increasing our initial renovation budget by $20,000. We received offers to purchase the house on 3 separate occasions after 1 week of the house being on the market. Even after the 3 failed contracts we re-listed the house again and were able to sell, pay lenders, and still make a fair profit.

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7000 Bishop Drive, Capitol Heights, MD 20743

DEAL SUMMARY

A friend of ours gave us a call about a vacant rental property that he could no longer rent and was ready to sell. Property was very old and had never been updated since it was originally constructed. This was a full gut job and everything needed to be replaced. After demolition we realized that the foundation had severe damage from an earthquake years ago. We attacked this property with a vigorous schedule and game plan and were able to finish the renovation in less than 90 days. After being on the market for 2 days we had 7 offers. We accepted an offer on the 3rd day for $20,000 above list price.

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5325 Chesapeake Road, Hyattsville, MD 20781

DEAL SUMMARY

This was an inherited property we got on a wholesale with major fire damage. It took about 8 months to get to settlement. The property had been condemned by the county and was scheduled to be demolished. We had to work with county inspectors for 3 months on final plans in order to insure the county would allow us to renovate the property. The entire process for permitting and renovation took 11 months. The property had multiple offers after being listed 1 day. We accepted an all cash offer $15,000 above list price the 2nd day on the market and closed 10 days later.

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1593 Forest Hill Court, Crofton, MD 21114

DEAL SUMMARY

A family friend came to us 1st and proposed this deal to us. The numbers made sense at 70% of the ARV at the time of purchase which was $265,000. Due to the snowy winter weather, the renovation took an extra 2 months to complete. During that extra time, the market value in the area went up tremendously. Collectively as a team we decided to try our hand based on the recent rapid increases in the area. The very 1st day it was listed we had multiple offers. We accepted an offer the very next day for full asking price.

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3418 Springdale Ave, District Heights, MD 20747

DEAL SUMMARY

This was a wholesale deal from the MLS. The property was up for tax sale due to unpaid property taxes. The property had 3 unpermitted additions that were severely water damaged and required special permission from the county to demolish. After 5 months of battling with the county, we were able to tear down 80% of the existing structure. The original structure was over built for neighborhood standards so we came up with a floor plan that would allow us to build a 5 bedroom 3 full bath property that would have no issues appraising above current market value. After being on the market a couple of weeks we received a full price offer.

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1224 Talbert Street SE, Washington, D.C. 20020

DEAL SUMMARY

This deal was a joint venture with another DC area investor. He put the property under contract with a Probate Attorney. It took over a year to go to settlement. When it finally did we submitted drawings and plans to the city for approval and our plan was denied due to a land restriction set back. This was after waiting 7 months for the plans to be approved. With all of the lost time we researched that most of the high dollar properties in this neighborhood all had rooftop decks. So we renovated the house in place and added a rooftop deck. Look at the view!!

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520 24th St NE, Washington, D.C. 20002

DEAL SUMMARY

This one was a wholesale deal from a fellow investor with an office in our same building. This took a little longer than expected and the market was changing rapidly in the upward direction. Our team found comps with higher value with adding a bathroom upstairs so we changed the floor plan last minute and added the extra value. Also, the English basement permit did not get approved until the week before the house went on the market. This added holding costs. It took an extra 2 weeks to add the English basement which changed the ARV from $570,000 to $650,000. We are proud to say that we literally sold this property in 1 day!!

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4313 Dario Rd, Upper Marlboro, MD 20002

DEAL SUMMARY

This was a deal in the MLS system. We were familiar with it because we have family that lives in the same subdivision. We also recently did a wholesale deal in the same neighborhood so we knew it could sell fast. It was a foreclosure that had water damage but all of the mold had been removed. It was a quick renovation and was completed in 10 weeks. This one sold 1st weekend on the market!!

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