Updated over 9 years ago on . Most recent reply
New agent
Thanks for popping over! I'm a new agent licensed in Maryland. I specialize in Baltimore City. I have interest in starting my own investment portfolio and looking for financing options to purchase a multi-unit in Charles village. Currently own in Hampden.
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#1 BiggerPockets Exclusive PRO Area Contributor
- Professional Auctioneer
- Baltimore, MD
I would start with getting a credit line on your home or other real estate you own - this will give you the opportunity to write your own mortgage when you need it.
There is a thing about being an agent and working on creating your own portfolio - it is in my opinion, if you are going to be an agent - be the best agent you can (you won't make lots of money, but you'll be the best).
If you are going to be an investor than go to it with vigor, enthusiasm and a goal to make lots of cash flow and equity, make many offers and create a business where you represent the very best client - a client that can make decisions - a client you are very familiar with------YOURSELF!
If you compare dollars you could make representing others for a commission and representing yourself - the answer will become very clear - how many properties would you have to sell and get to settlement to make a commission $15,000 working on the standard split?
How much could you make by flipping ugly houses in Baltimore (and there are lots of them)? The answer Sir is $10,000 - $15,000 - (possible in one months) and just think you don't have to play by the restrictive rules the state set for us agents, you don't have to worry about financing not going through, housing code violations, nasty sellers or buyers - open houses - no need to beat the bushes for listings - no need to show properties or make appointments to show properties to so called buyers who don't show up. No need to work evenings and weekends - no more office politics or sales managers - need I say more - AGAIN I WILL SAY --------YOU ARE YOUR BEST CLIENT!
A side line is a slide line - you can only do one or the other well - it is your choice! Welcome to the club of wealth - free time and fun.
Charles