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Updated over 9 years ago, 03/25/2015
I'm a NEWBIE!!!
Hi Everyone! I'm located in Maryland equidistant from Baltimore & Washington D.C. Growing up, I was the property manager for my parents' apartment buildings in NYC & was forced to serve eviction notices to tenants. Yep!, I did the dirty work. Now I'm doing this full time, seeking out my own real estate to invest. I Plan on flipping homes to obtain apartment buildings so my husband can retire his job, I want to pay all my kids college student loans & buy my mother in law a house so she can live closer to us. I'd appreciate any and all advice. Thanks!
@Phillip E. Thanks for the warm welcome Phillip. I'm really excited about this business. I feel like everything I've done & been through in my life has prepared me to work in this field.
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#2 New Member Introductions Contributor
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Welcome.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Good Luck
Paul
@Paul Timmins Thanks so very much! I love to read & can use all kinds of help so I will definitely look into those resources.
Welcome Natasha! Which part of MD were you looking at for starting in? Baltimore City is far different then DC. I can imagine the prices on multi units in DC are through the roof to acquire, as the prices of SFH are expensive enough. I guess it depends how much money you have to start off with.
Since you know the tenant side well, now learn as much as you can about the acquisition and rehab side.
Maybe you can use your experience to rehab and sell turnkey properties that have tenants in place for investors, and then manage the properties for them?
Feel free to reach out to me if you want more info on the Baltimore market.
@Jeff K. I'm starting in the Baltimore area but not the city because the red tape is so bad in the city that you need a permit just to change a light bulb. The truth is although I did well, I didn't like managing property. I'd rather wholesale a deal to another investor than have to manage a property ever again. However, for now I might consider it since now I'll be working on SFR in the suburbs and not apartment buildings in the Bronx, NY. Thanks for the great idea!
Hi @Natasha M.
Welcome. This is a great site to get re-started, ask questions learn as much as you can regarding your plans. I am wholesaling in Baltimore county so let me know what area your interested in.
Hi and welcome to BiggerPockets! It’s a great place to learn more about investing and meet the people you want to meet. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and don't forget to set up your Keyword Alerts!
Originally posted by @Natasha M.:
@Phillip E. Thanks for the warm welcome Phillip. I'm really excited about this business. I feel like everything I've done & been through in my life has prepared me to work in this field.
Sure, You're welcome! I totally agree! I've just responded to your PM. Lets chat when you have a moment!
@Keith Belzner Thanks! I haven't found my niche yet but I'll certainly let you know.
@Larry Fried Great advice. I'm not a "PRO" member yet so I think I'm limited to 2 keywords. Any advice?
@Natasha M. Welcome to BP. there are a lot of members from the greater DC Baltimore area. I know there are several in Columbia. One of the best clubs in the area is the BWI meetup group (Google it) I hope I see you there sometime
Good luck - Ned
Hi @Natasha M.
Welcome to Bigger pockets!! Glad you joined this group. You got the best. Continue learning and wish you the best !
Welcome Natasha! You will get a ton of knowledge and great advice here. I agree with @Ned Carey about checking out the BWI Meetup group. Baltimore REIA is also good.
Good luck
David
Awesome!!! I'll google the BWI REI group and find their next meeting. I'm doing this full time so I'm looking forward to meeting like minded individuals.
Thanks so much for the kind words. I agree that this group is the best. I'm a sponge for knowledge and an action taker so I'm really looking forward to working this business.
Thank you for the warm welcome. I totally agree about visiting the groups. I'll be working on that right away.
@Natasha M. since you are full time you can go to the Monday lunches in Baltimore. An informal group meets at Spirits West 2601 Wilkens Ave baltimore 21223 12:00 every Monday. Ask for mark and tell them Ned sent you.
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#3 Questions About BiggerPockets & Official Site Announcements Contributor
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Hey @Natasha M. welcome to BiggerPockets! You've definitely come to the right place to learn more about investing. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast. They are both great at learning the fundamentals.
Also - be sure to check out House Flipping: The Best of BiggerPockets. I think you'll find a lot of great resources on flipping there.
Oh - and don't forget to set up your Keyword Alerts!
See you around the site!
@Natasha Marano,
Welcome to BP! I'm also a fellow newbie. I think you'll find the information on BP very helpful. Good luck!!
@Brandon Turner WOW! thanks for acknowledging my post. You're a true inspiration! I've been watching your webinars for the past 3 weeks. Although I learn tons on the webinar, I can't stop watching Charlie. I get so excited when you pick him up to the screen. He's such a good puppy! LOL okay seriously, love the webinars & will check out those resources you suggested. Thanks!
@Account Closed Thanks a lot for reaching out & most definitely thanks for the luck, nice to know there are other B'More fellow newbies out there to connect.
Thank you! I'm really excited to be here & learn all I can.
Welcome to investing! You look like to are off to a wonderful start and as always the BP community never fails to offer wonderful advice and outstanding activity leads.
DC and Baltimore are definitely very different and it is a good decision to get started in the suburbs. If nothing else the pace is just a tiny bit (not much) slower and the confusion can be just a little less.
I have a few clients who seriously prefer the Baltimore County area, and I've done quite a few deals so I'm always willing to offer insights. We're moving into the crazy season, but I'm always available for a chat.
All the best and much success to you!
@Matthew WeiserHey Sorry for the delay. Thanks for the welcome Matt, I'm excited to be here with all you professionals.
"We're moving into the crazy season, but I'm always available for a chat."
Thank you so very much. So when you say crazy season does that mean it also gets more competitive? or just crazy busy because since weather is better we, as investors have more opportunities?
There are a lot for things that all happen at once April-July (October in DC). Like wedding season is April-October there is also house season.
The projects people bought by end of year have been rehabbed and are going on the market.
Buyer are like wait..I got this tax refund, let me buy a house.
People who want to sell and buy but did't want to move in the cold are all out.
Open houses are packed.
New investors are out, it's warmish now they want a project.
Lending deals are popping up everywhere and much more marketing money goes into lending ads.
People start trying to wrap up estates that they didn't want to deal with when it was cold.
Snow-bird Realtors have returned from wherever they go in the winter.
It's going to get so much worse before it gets better :)
So yes more competition but also more deals. Everything real estate tends to expand when it's warm. Especially in areas that have a snow season.
Thanks for the heads up. What can I do to prepare? Any advice?