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Updated over 8 years ago on . Most recent reply
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New to REI hoping to make it my full time
Hello BP community,
I am new to the world of REI and I am eager to get started in this business. I have read a lot of blog post, listened to most of the BP podcasts, searched for videos on youTube, and have a few books arriving at my house tomorrow.
My goal is to create a full time income from several rental properties in the Southern Maryland (Calvert, Charles, St. Mary's, Anne Arundel, and Prince George counties) and a few areas in Virginia (King George, Stafford, Westmoreland, and Richmond).
So where should I start in this business to raise initial capital for my end goal of owning rental properties? Is flipping illegal in either state? Should I start by creating an LLC? Do I need a real estate license to operate in both Maryland and Virginia?
Outside of the forums it seems that everyone is a guru and is selling some kind of program or their advice.
Most Popular Reply
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I have rentals in Baltimore City. You just have to know your market. Before I became an agent I wholesaled deals in my zip code where I live. I marketed and worked the marketing plan I had developed. There are deals everywhere but tenacity is key. I spent alot of time at meetups and networking . Start local until you feel more confident.