Ed From Westminster MD

[Ed McIver]

I am new to real estate investing but have been self-employed for 20 years. I purchased my first property December. It has 3 apartments.Apartment 1 has had the same tenant for the last 25 years. Apartment 2 needed some work and about 4k in improvements but was rented in about 6 weeks. The last apartment I completely gutted, removing everything except the ceilings and the bath tub. I hope to finish renovating this month and collect my third rent check. I did a great deal of the work myself.

I have so much to learn, but it appears that dumb luck walked us through our first acquisition. I bought the property for 100K put in 35K.We should gross about 3k /month.

I like the idea of multi-family properties. When I rent out the last apartment I will start looking for another. I like the idea of getting more properties very close to my first property. But I am not sure if that is possible.

I would like to find a mentor. And purchase foreclosures.