 So from time to time as you all might know not only am I in the print business? I'm in Promotions and marketing, but I also do some dabbling and dabbling and investing in real estate and just recently I was joined by my good buddy Chris Haskins along with my new friend mr. Dan Borreiro out of New York City and we went to take a look at a Potential real estate deal, which is 10 units It's going to be 10 houses on one city block in Baltimore in the city of Baltimore, Maryland so my friend Chris Recorded our walkthrough and it's an interesting look to see how a deal could be put together and Actually Chris and Dan in the first part of this video series And this is going to be a two-part series and I'll put the link right there for the second part Dan and Chris do a walkthrough and an Analyzation of this potential Deal that the three of us are looking to do together So I'm gonna go ahead and let Chris Haskins take it over right now. Take it away Chris To invite you to a real estate auction, right? The kicker with this one is it's in Baltimore, Maryland about three and a half hours here from the time water area Where I'm at in Hampton Roads, Virginia So I'm looking to expand to Baltimore because the prices are a lot lower You've got properties 10 20 30 thousand that you can fix them up with a small repair and rent them out But I like to hang out with people that are smarter and richer than me, right? So you're gonna meet my friends a Dan Barrero guys been in the real estate game for 30 years, right? He's got over he's got 300 doors and my friend Chris Bersh. He's an entrepreneur And he also owns a printing company in Washington DC. So let's go to Baltimore. This is gonna be a two-part series, right? Because there's so much content. I'm gonna take you into these properties. You're gonna see what they look like some have been renovated This is a 10 unit Auction here right almost like buying the block. That's what they said you're gonna buy the whole block I mean it's stretch of properties. So come on join us for this ride as we go to Baltimore, Maryland together You are in for a treat. Let's go Greetings class. It's Chris Haskins with the real estate roundup calm my mission and ministry is to raise your financial literacy through real estate investing and entrepreneurship and Doing that. I'm just taking you along to document my world to show you how we try to create opportunity Create market share for my for myself my family and my community, right? So what's going on is here is my friend Chris Bersh called me the other day. He said Chris There's 10 units going up for auction in Baltimore. I thought that picked my interest, right? The thing that really piqued my interest was the opening bid roundup Was a hundred and fifty thousand, right? But then I did a little research and I went to prop stream and I highly recommend if you don't have an online Data base a data source. Just go to Chris property data.com. That's Chris property data calm I'll put the link right there for you And I negotiated a discount for you so you can run your own comps pull mortgage information skip trace stuff Find the owner get vacant properties lean search all that stuff. So when I did what I went to prop stream I saw that the guy paid 21,000 for these 10 units, right? So my brain computer said 21,000 10 units. He paid roughly 210,000 How can he do an opening bid for 150? Smelled a little fishy. However, What people do is they lower the price for the opening bid and then they have something called a reserve So and they want to create a frenzy of a frenzy for people to come in and start bidding, right? They do it. They do it all the time. So I anticipate that this property will not go for 150,000 So in this two-part series the first part you're going to see us walking the neighborhood with Dan I mean, he is just going to give you some nuggets from investing in Brooklyn, New York since the 80s. He's seen things come and go just amazing The guy's like a walking dictionary Or encyclopedia. He knows what's going on, right? So as we were walking through the properties, we were actually able to meet the owners The owner he showed up and then literally did I did I know that at the end of this thing We were able to interface with the buyer. So in video number two, we're going to share with you the buyer I'm going to interview the buyer of this thing. See what he paid for it, right? So each unit is 750 square feet three are occupied seven are vacant. They're renting for 750 dollars Which means right now they're only bringing in 2250 but the potential rent that's 10 units Times 750 dollars potential rent is 7500 Maybe more. I don't know the area. I don't the the the seller is going to tell us what he thinks if we can push the rent out So follow along in this one as you're going to see some amazing content from Dan Verrero man, this is just This an honor for me to bring this to you as we pass 64,000 subscribers y'all Thank you so much for supporting my channel Take a second as you come along with this journey to subscribe my roundup family Hit that like button and share with any other investors that are thinking about getting in the real estate business Let's go check out this property. Okay, so we're here at the house. I've met my boy Daniel Burrero. What up What's happening chris? Can't I can't believe I'm here in Baltimore with chris haskus I mean he joins us all the way from virginia. I came down from new york We're gonna be meeting chris birch shortly. He's from dc Uh guys, you got a lot a lot of experience right here. I'm with between the years, right chris That's cool. Yeah. Yes. Yes. Yes. Looking at these, uh 10 properties See if we take them down if we can't that's fine, but at least we're gonna learn a whole lot Dan go ahead when you were saying something about you like this stuff So I love this pre-war construction right chris. You got to point up to that cornish up there That cornish is primarily, um, dutch colonial Architecture the course to do that today would be so ridiculously high wouldn't make any sense But it's it's it's great to restore it if you can if you notice on the bottom they have the granite Right off the footings on the foundations above that you have a limestone below the windows Um, you can't find this type of architecture unless it's pre-war construction The only problem with that chris where you'll not have had that discussion, right? It's extremely expensive to renovate these because these they're pre-war construction You could you have to naturally assume there's a lot of lead paint Which means you got to get certified people to remove that in addition to a lot of galvanized pipe Which has all has to be removed and replaced with copper My gut Dan as I was rolling up where I was nervous about this what you were saying You were saying you like this. I love this man. Tell me about that I love it because there's a lot of new Renovation like for instance that one right across the street right look at that That you could see was totally redone. You could actually still see the permits in the windows I noticed on almost every block they had there at least one property that's being renovated with permits So that leads me to believe that this area here is right For Regentification and coming up and it's really close to like the inner harbor area chris. Did you notice that I did? Yeah, it's beautiful. I got some footage of that too. Yeah, so it's got a lot of potential I mean it doesn't look very nice right now but the architecture here if the streets were cleaned up and um And you see a lot of obviously investments coming in because there's a lot of Like I said earlier a lot of new construction Dan tell me about when the building I see there was a lot there that did I feel like that one was torn down Obviously, yeah, what? How do we get to this place is so bad? It's got to just be it's got to go because a lot of these down here already. They're bad Believe it or not man. That was I can't talk about baltom. I can talk about my experience in brooklyn new york There's another one. Yeah, I mean in brooklyn new york when crack cocaine came out man That was like the final straw that plus the laws that came out with the rent stabilization Where it made it so difficult for people to renovate Cost the cost factor wasn't the difficulty the problem was recouping your money after the cost factor With all the rent laws, so people were walking away from the properties and then the properties, you know become You know drug dead This is the neighborhood y'all we got new windows there Dan. Yeah, it's like I said man on every single block. I see one or two houses Uh with permits being fully renovated You know that leads me to believe there's a lot of activity here. It's just a matter of Fitting yourself in at the right block And at the right number Like to me chris this is perfect right think about this You take this you give it a you give it an acid wash Down to the original brick with nice brick point job I mean Like this property has so much potential on the outside. It's got the original corner You're gonna have to replace a lot of that wood and refinishing But I mean this property will look like that one right here chris. You see that one How beautiful that looks with the original brick work. Yeah That's what I love man Okay Dan are you are you thinking I know for are we treating this like a historical district where we're gonna have to do Match it up. Well, the thing is if it's a historical district I gotta tell you the truth. I won't touch it because uh the permitting process is way too difficult It costs too much money. I know you saw that in new york. It was a beast. Yeah, so I wouldn't even touch it But if it's not historical, I personally believe you should always go with the existing architecture Especially if it's pre-war construction because you're paying a tribute to all those Fine labormen that put this together with their bare hands. The labor work was incredible, man It's that you know, I I hate when people knock down those cornishes and and disavow The actual architecture because it's paying such disrespect to all those that came before you I mean, this goes back to when the dutch were here colonizing the united states This is crazy So we're here this is Yeah, yeah his wife. Yes Thank you. So I'm assuming you're the realtor Okay, so are you are you here for the open house so we can just walk in Oh, okay, you're working. Okay Cool Oh, I haven't registered because I wanted to put eyes on it but since you're here and I could ask you a bunch of questions Do you mind being on we do we we also do a youtube channel each one of us educating investors Real estate investors. Would you like to be on it? Sure? Okay Ask me easy questions. I'll ask you easy questions. They can hear you You let me know when hit it. Yeah, they can hear you just roll Um, because they'll be able to hear her without the mic. They go here. Let's stay right there. So what's your name? Dan Borrero chris haskins. What up likewise? um The time when you're ready hit Here with an she's actually not the listing agent, but she's the list She is the agent here showing the properties. Is that right? Correct? Yeah, and she's going to be giving us all the information So and give us tell us something about these 10 properties All the hard work's been done. Okay. So the hard work means to find that. Yeah, please to find the hard work. Okay, sorry The non paying tenants have been asked to leave. So we have now three tenants who are solid And I take good care of the properties and pay the rent on time We've had two properties. We've been renovated already. So two are impeccable. You get to see a 1609 Um Are we going to be able to get into the howlms that have tenants in them? Okay Okay We have contacted the VA So are you guys wholesalers or what? We are I'm actually I I'm I buy we buy with all money Sometimes we wholesale this here would be a total investment to keep. Um, this would be long term But yeah, so it's it's a yeah, it's a pretty straightforward play as a rental. Okay. So what are you getting? What are you getting currently and what should you be getting assuming the properties were renovated? You should be getting 900 a piece times 10 9 grand a month. Okay, but you should be getting and what's the square footage per unit? That's top and bottom The one bedroom summer too, you can see from the bump out in the back, which one's it too? Okay, the two is you can get a little more and what's the parking? Um, walking here. Yeah, it's all street parking. So How difficult is it for like, uh, sanitation to get in and out with street parking? You mean for street cleaning? Yeah, well when they come pick up the garbage, right? On the on the streets through here through here If they're a car park, you can't you can't park here Park here, you'll get towed. Okay. So this is not this not this when you say street parking those at the end of the blocks. Okay Okay, so there's only street parking for these units There is no off-screen park on the corners. You can't park on the block here. Yes Because otherwise the sanitation trucks i'm assuming and emergency service wouldn't be able to come through Okay, have you been quiet already? Okay They were supposed to get to me a while ago because if you own if you own a If you own a lot if you want to build a next door to a vacant lot that the city owns a vacant You have the right to purchase it for a thousand dollars to the investor five hundred dollars if you're an oneroc But right now the city is just and what about is this the same thing here as well? He's talking about this. That's owned by a private party New York. Yeah We got a lot of you got a lot of new yorkers inquiring about this. Yeah, I got to tell you two man. I love this architecture It's cool, man. It's cheap. Yeah, it's cool. And it's cheap. Where are you from? Originally from germany. Okay. Where are you from originally that belgium the accent's awesome I'm actually thinking about making the country Really Wait a minute, did you hear that did you hear that the man says going to brazil has got some land with coffee and cattle This is why I like to keep my feet in the streets Y'all and I want you to do the same I would never have bumped into a gentleman like this that owns land in other countries That's farming in other countries if I was not In the streets and actually doing a little bit of traveling, right? So I'm urging you I'm stressing you Get out. You know, I know we're in this virus thing, but you wear your mask You got to rub elbows with different people that from different lifestyles. Okay, you guys go into brazil I wouldn't have met him if I wouldn't have gone to this auction How long do you own the properties here a year on this one? Okay, I got a lot Are you looking to get rid of those as well or Oh really Good for you, what's a bit time to sell bro, as you know Okay Now on your rentals are you doing section eight or you're doing straight mostly section eight here to I kept two existing tenants those two they're each paying set 750 and 700. Okay, and then he's paying 750 their market rate And in this one, I have a section eight tenant lined up. Okay used to be a section eight tenant in one of my other houses Sounds good. Baltimore is a is a whole different game Apparently so Now when you did these the I see you did the x-tier. Did you do the roofs as well? I did one roof That's a new roof on the one that I did. Okay, and this one's patched when I did The other ones all need to be redone. They all need to be redone. What other major work needs to be done? I mean, I don't consider roof major work Rubber roofs the rubber roofs. Yeah, do you do the torch down on them or I do? Yeah Torch down rubber roofs. I mean these these all because it's pretty straightforward. There's small houses You know, it's about 30 000 renovation to get them to like what I did It's a time six because there's six vacancies. All right What type of foundations are these bro? They're brick. I'm talking about all the ocelor. Yeah, there's basements. But are they are they rock foundation or the brick foundation? If you go to the basement, you see brick walls. Because I know a lot of them have the rock foundations the old rock foundations Now these ones aren't poured. How deep are they as far as headroom? Six feet That's nice. Yeah, maybe five and a half. I mean you wouldn't want to live down there for sure. Yeah That's if people do that You're looking at about a time You can say hello to my wife. You're my sister on your on your sweat equity So we just happened to run into the realtor here that's working with the seller and you just saw the owner of the properties, right? So the biggest thing that i'm noticing here is there is no parking You get a good pan of the street here Very tight street, right? Okay, and oh no don't for you to get your car in here. You got to park down there I'm just gonna wait for so you gotta think about it. Do I want to get the groceries? Well, let me see I guess I'm gonna I'm gonna keep your car. So you are you very active in this area? So Can I sit can you send me whatever you think is good? So what is this the living area? So this is a two bedroom One bath two bedrooms upstairs the bathroom is here on the main level It's got the pump out. You can see it from the outside And there was a tenant in here when you say the bump out. What do you mean by that? You'll see from the outside the kitchen is extended out versus the one that's refinished next door So you like in this huh there? I love this. This is like Like this excites me. I know I know most people here think when you're looking at this you guys are gonna think this is crazy You don't gotta scream dance. Okay. I'm not saying you are I'm gonna get the mic right on your neck. Um, but I personally I personally love this man Damn, I'm feeling bouncy when I'm walking. Yeah, you're gonna this is You could feel it right you're gonna have to replace some beams here and figure out what the problem is It looks like they may have had water damage here at one point. So I'm bouncing That's that that scares me to death. So I want to know what you think about You'd have to get to the basement to look at that Maybe what you think about this kitchen? Maybe I should have brought my damn flashlight. Got it, man. You got it. Can you go in there dance so we can get up? Get a picture of it with the camera What's wrong with you? Can you get the get the bathroom with damn with the light in there? What's wrong baby? Get the tub there This is total gut Chris And like you said the floor is bouncy in here as well too. Yeah, I was that scares me to death Yeah, or they could just have a half inch plywood It's possible. But usually there's there's a beam problem if you know, hey, how are you man? Can we go downstairs any light down there? No Is it pretty black? Make your way down brother I'll go first So you see these laughs here, Chris? I do that means that means the properties mostly struck a light upstairs You could assume which creates a lot more depth a lot more dust a lot more course As hard as hell to match it up Yeah, well you don't we rip it all out go down to the beam And then you have to square off the beams we usually use two by fours or two by three So make them leveled out. I feel a real claustrophobic right now The problem why you feel the shaking is because these are two by sixes Yeah, but they're two by sixes instead of being two by eight. These yeah I don't know man. They're not supported. They are sturdy, but they just need some support. That's it But they look pretty clean man. Got some new product down here there New hot water heater. Maybe something Yeah, it's all PVC. No, this is ready Yes Yeah, this is all PVC down here. Yeah Dad, I'm loving this structure here. I don't see any cracks. I'm loving it as well. I don't see any cracks either, man No cracks These are real two by sixes something's going on stand over there. This should not be bouncing This is a two by the spans are too far apart. That's the problem But this is this real wood here doesn't matter the spans are too far apart. That's the bouncing part So this is not a huge huge problem No, you can use three quarter inch pie and and put some support in between and that'll take away the shaking Got it Well, should at least I'm gonna go up chris. This is crazy. Oh And we don't have this stuff from down in virginia Hampton Oh, yeah Hey, how you doing? Oh, no, what? Is it alive? I'm see babe These stairs I would be dead. Yeah, it's grandfather It's great. I'm not gonna make you change the steps, but Good Hey, Dan, I'm up here, brother. I would bust my butt trying to get up here So these stairs I gotta tell you the truth the owner we just spoke to downstairs, right? He was pretty good. It would do sound like he was real honest. He was but I gotta be honest with you There's more than 30 grand per unit on this. Oh There's a lot more than 30 grand per unit So guys, this is another vest that's looking at the property ice soon. Where you from, man? Oh, okay. So you've seen a big change How is this two bedroom when I gotta walk through bedroom to get to bedroom there they call these railroads Yeah, so you have from virginia. You don't see this but in cities Yeah, the railroads up where you have to walk through one bedroom to get to the next Sometimes like in new york city, you may even have to go through the living room dotting room Then you go. Yeah as well. Yeah All right. Yeah, I'm good. I've seen enough here. Yeah, I've seen enough But this is definitely more than 30 grand per unit so far. Let's go see the other one. Dude was uh, pretty yo, thank you, man Okay, so you've seen inside of one unit so in part two of this series here You're gonna see inside of some other units that are completely trashed, right? You're you are going to meet the buyer. He's gonna break down for you How much he paid Why he paid what is his cash on cash return his ROI all that stuff? I want you to meet this guy Because we're getting to know him too. So you don't know why he paid what he paid for it So uh, november 28th is when the next part two will be coming out. Make sure you're subscribed You do not want to miss this information It's going to be life changing if you're interested in creating wealth and dealing with multi families Listen subscribe to the channel like the content. I'll see you next time on the next video. Peace Thank you