Baltimore City Average Days on Market
The price and quality of the renovation determines how quickly a house will sell. Club members' homes consistently sell much faster than the average houses.
We renovate houses where we can make the numbers work so that at the end of the renovation, our businesses make a modest profit. As a result, our projects cover the entire Baltimore Region and have served most price points.
* Estimated Settlement Charges is calculated as 6% of thee purchase price + 10% of the sales price post-renovation (frequently includes 3% Seller help towards Buyer's closing costs).
** Estimated Soft Costs are calculated to be 10% of renovation costs and includes utilities, security system fees, property tax, and the costs associated with doing business in Maryland.
We have experience renovating houses of all ages and conditions. We also have experience in creating new houses - both stick-built and modular.
Number Renovated Houses Sold Per Price Range
Baltimore County Average Days on Market
We renovate row homes, semi-detached, and detached homes. The homes we buy are in poor condition and many have been converted into apartments or rooming houses. In most cases, we renovate these homes to become single family homes.
As small real estate investors, we have to be very selective in choosing houses to renovate. We look for houses where the cost to purchase and renovate is less than what the market will pay for a well-renovated home. As a result, we tend to work where we can turn the worst home in a neighborhood into a showpiece rather than compete in "development hotspots."
Our small size allows us to work in neighborhoods that are overlooked by larger developers. Our homes sell more quickly than the average homes in the neighborhood because of the high quality and creative design. Our work usually brings top dollar in the neighborhood and turns a vacant property into a home.
The Club Mastermind Property Report
Since 2010, we have contributed over $130,075,325 to the greater Baltimore area by purchasing, renovating, and selling homes. Our efforts are increasing neighborhood values, putting vacant and neglected properties back on to tax rolls, providing family housing, and keeping small local contractors employed and purchasing most of our materials locally. The quality of our workmanship increases the value of all the neighborhoods in which we work.
The renovation costs shown are only what was spent on contractors and materials. The "soft costs" shown are estimated and include, but are not limited to:
- purchase and selling settlement charges
- property taxes
- finance charges
- mortgage payments
- security systems, and
- other costs associated with running a successful real estate investment business in Maryland