New Member from Frederick, Maryland.

[David Cummings]

Hello All, I discovered Bigger Pockets a couple of months back and have been listening to the pod casts on my long commute to and from work. I think they are really cool; very inspirational and a lot of great information. Although I am originally from Scotland, I have been living in the U.S for sixteen years, the last eight of which have been in Maryland, which is where I bought my first house. I work in the remodeling business as a carpenter overseeing various size projects. This, along with buying a house at one of the worst possible times -2005- has given me a keen interest in the real estate market. Although initially skeptical of it, I have come to think of real estate as a great opportunity for me. At the moment, I am trying to learn as much as I can, about what can be a very confusing subject.There is so much information! Soon, I would like to start rehabbing and flipping properties around Frederick, Maryland; with the eventual goal of being involved in buy and hold and producing some passive income for my family.

[Erik Hitzelberger]

Welcome David. It's nice to see that you have goals laid out for yourself and your family. Focus on learning 1 thing at a time and then applying your knowledge. I wish you the best of luck!

[Chad Carson]

David,

Congrats on jumping in to learn about investing. Yes, it can be a confusing subject because there really is a lot to learn.

My recommendation is to stay focused in your early investing - both with your strategy and with your location to invest.

You're a carpenter, so that's a strength you should focus on and use. If you want to rehab and flip properties, your knowledge of the rehab process will definitely help.

But in addition to that you'll need to focus your study on:

1. Your local real estate market and values

2. Financing (How to get the money)

3. Marketing/Sales (Acquisitions)

I think it's easier to do learn your local values by starting in a really small area (like neighborhoods near your house if possible), master the values and trends there, and then branch out.

Financing for flips can come from private lenders, hard money lenders, a line of credit, personal funds, or all the above.

Then for marketing and sales you can study here on Bigger Pockets the many different ways to scare up leads for good deals within your target market.

Best of luck to you.

Chad

[Mary B.]

Greetings David and welcome to BP. Happy and prosperous investing to you.

Kudos,

Mary

[David Cummings]

Thanks for the advice Chad. It helps to have someone else clarify the steps for me. I'll take your advice and start really learning about my local area. Thanks to everybody for welcoming me.

[Brandon Turner]

Hey @David Cummings Thanks for jumping in and introducing yourself! Looks like you have some good experience with real estate! Don't be afraid to jump in and help answer questions or ask some of your own.

Oh- last thing: Have you setup your "Keyword Alerts" yet? If not - definitely add some. I'd recommend adding "New Market" so you'll be notified when people talk about your local area.

Welcome David!

[Marylynn B.]

Would love to connect! I am also in Frederick !

[Andrew Michael]

@David Cummings  Welcome to the site.  Also a new investor here, I have been really attacking this for the last 6 months or so.  There is a great local group that meets up in Hagerstown called HubCityREI.  I have found the seminars and members of the group to be very kind and helpful.  I am currently learning the Urbana market (where I own my primary residence) and a few select neighborhoods in Hagerstown and Frederick.  I go driving for dollars on the weekends so anytime you want to join let me know.  My focus right now is buy and hold multi's up in Hagerstown, and wholesale deals in the markets I mentioned.  Good luck!

[Marylynn B.]

@Andrew Michael, I have seen many multis in the Hagerstown area, years ago was persuaded to not invest in Hagerstown ( by my realtor :) so I took it with a grain of salt).  Would love to hear of your experiences.  I have been looking outside of Maryland mainly due to the tenant-landlord laws, Hagerstown is affordable and the multis I saw in the past seemed to provide good cash flow. 

[Andrew Michael]

@Marylynn B.  Hey there!  When your realtor suggested against investing in Hagerstown, how many years ago was that?  I suppose its depending on your overall strategy.  Do I expect Hagerstown land value to greatly appreciate anytime soon?  No not really.  But I do think there is a strong renter market and plenty of turn key cash flow properties for sale.  

I grew up in Gaithersburg and have since moved out to Urbana so I have seen the cities along 270 grow immensely over the years and I don't expect that trend to stop.   DC becomes too expensive so they go to Bethesda, then Rockville, then Gaithersburg, then Urbana, etc.  I feel like being outside of the Nations Cap gives us an advantage as the market here is not quite as volatile compared to other markets.  Just my opinion though.  

Let me know if you get back to investing locally.  Always looking for local investors and people to network with.    

[Dave Visaya]

Hey @David Cummings welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here!

And oh, learn how to use BiggerPockets to grow your business by checking this quick guide: http://www.biggerpockets.com/biz

See you around!

[Cesar Quezada]

@Andrew Michael Do you have any investor friendly Real Estate Agents that you recommend?

[Marylynn B.]

@Andrew Michael, like I said I took it with a grain of salt- I do not think that realtor was very investor friendly!!! I always felt that way about Hagerstown to be honest-seems like a good place to invest. I am planning on attending a local REI next week and look forward to connecting with local investors.

[Andrew Michael]

@Cesar Quezada  Are you looking for one in Chantilly or in the Frederick/ Hagerstown area?   I have one that I have been using out of Hagerstown recommended to me by other BP members.  Shes been great so far.  Let me know and I can PM you her information.  Thanks  

@Marylynn B.  I will be at the HubCity one next week.  Is that the one you are referring to or have you found a good meetup actually in Frederick?  Thanks

[Cesar Quezada]

@Andrew Michael I'm looking for one in the Hagerstown area. Any info would be great...thanks!

[Marylynn B.]

@AndrewMichael, yes that is the one!!

[Andrew Michael]

@Marylynn B.  Fun I will see you there!  

@Cesar Quezada  I will PM you info.  Thanks