I'm new to this I really need help

[Jeffrey Jenkins]

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I'm new to this I be live it works and that I can do it but I could use any advice from anyone who's already doing it thanks

[Michael Lee]

Hello and welcome to BP!    First of all, I agree that to know about you personally or what service fits your goals so I will know myself to be giving you much rounded feelings on what you are recommend you.do.    This part of the is more demanded in good situation right now to will be to the sellers and they are in the power position right now and lends itself to be tough for you right now.  I have never been to Maryland so I cannot help you on housing directed towards you.  So do not be in much of a hurry right now and concentrate on real estate learning so you can more developed when your time comes. You might talk to a local and experienced Agent and find where around there that you are interested in will help you.

Another thing you might consider worthwhile is where is the would benefit you the most. There is a FHA loan that enables you to only put 31/2% down as long as you live there for usually a year. When you leave the home you get the original contact you created is known as "house hacking". You also can borrow that includes repairs or renovation in that same loan. The only thing I have heard that there older homes and anything that was built before 1978 may have the extra cost to eliminate or cover up asbestos.

Always do the math analysis on properties and try to look that SFH at the beginning before you make an offer or at least have a clause in the sales contract before you close is to make a detailed inspection (within the start,about 10 to 10 to 15 days) and possibly back out of the deal without a penalty that will hurt you too much. Being a problem solver towards the owner might help you get the unit(s) and owner financing. That is a good way to get your children relaxed or at least to know what is going on and why.

Do not try to do everything yourself.  Organize a local and experience in professionals what you do to a Team of yours.  The primary Team members are Attornies, real estate Agents, a CPA (or accountants), Inspectors, General Contractors, and a Handymam.  Would they return your calls promptly?  They do the thing you do not know or do not want to do. Keep it simple at first the with starters beginnings.

AJ Hope your debt payment is covered by the renters, not you.  That will make the littler of them  amount of yours smaller rent payments a sizable lesson for the mortgage/debt receiver will/can give them confidence in you and with the property bank payments you make monthly.  Just do what is the average in that neighberhood.  I have read more than once that mistakes and fear are pretty normal.  Do not let any failure make you quit.  Just keep on going.  I wanted to reiterate the need for taking lessons on finial and real estate needs to go on for the rest of your life.

Track everything you do and review it on regular basis and by reviewing these numbers will help you possibly on reducing expense and maybe even increase income. There are a few things you might want to do before you start investing after you have decided on your niche and your market area. One of them is to form some type of corporation or a LLC. This will help you upersonally from any lawsuit filed from one of your properties. Another thing you might consider who will provide your advise, if needed, on what type of entity you should form. Attornies and a CPA will help you the most on this.

Another thing to do before you start making offers is to is to figure out who will be their lender.  Having a loan letter that says the aeverage time it takes to close a loan and the maximum amount you qualified on.  One other thing you might consider is the office location.  It needs to no convenient for you and have minimum distractions.  You can office out of your living place if you can close it off and not get distracted by personal personal things to do.

You can combine things that either wholesales or Fix and Flip go together well and after your closing you can make a decision based on what has to be done.  Follow up on possible clients, Team members, and learning places.  Follow up is critical and help you keep on schedule or to be a problem solver for the seller.  Do not cut any corners on anything to make a property look better on paper.  After you close on an improved property, change all exterior door locks and contact your insurance agent to get a new property covered.  If you need help on anything, let me know through BP.b I have many years of the construction on residential and commercial property.  I also carried an active real estate broker license but never used it full time, for about 30 years.  In Texas, where I live, you could det that license without serving first as a salesperson.

Good luck to you!