New guy in the Washington DC / Frederick MD area looking for help

[Martin Smith]

I'm finally ready to take the leap and go into my first deal. And the one after that. And the one after that. And the next 97 deals after those first three, too. 

I've got the personal, professional, and educational background to head into real estate, and I've learned from some of the best, even though most of it has been tangential to my day job (which has involved working regularly with real estate investors for the past fifteen years). I have a masters degree in city planning - I know how cities work, how citizens live / work / play within them, and how to use government to your advantage. That background, combined with my own natural curiosity, has taught me how to identify where both municipal and private investment trends are heading in the neighborhoods I know about. I've had a strong career in nonprofit management that's taught me a lot of hard and soft skills that translate to real estate very well. I'm used to raising over a million dollars a year, so I have no problem asking anyone for money, and I have no problem being told no, and working my way from that initial "no" to a "yes". In my experience, there is no such thing as a "no" - they all translate to a "not now". I know how to deal with difficult people and naysayers. I've also got a solid background in retail and sales that has taught me how to sell - or buy - anything to, or from, anyone. Friends and family often call me in to help them negotiate car purchases (a personal specialty), real estate deals, residential and commercial lease agreements, credit / debt balance settlements, etc. I've negotiated dozens of commercial real estate deals as a simple advisor - I'm not a licensed broker, but once I did it the first time, I got a referral, and then another, and it snowballed from there. 

I've owned and renovated my own homes before - the first one going all the way back before YouTube to those Bob Vila books (anybody else remember those???) that taught you how to do basic plumbing and electrical work. I am NOT an expert in construction by any means - I only know enough to be dangerous. But, I'm a Jack of All Trades that way in life generally. 

If you give me a spreadsheet and explain how it works to me twice (once so that I understand how and why you built it, and a second time so I understand what you want to get out of it), I can do anything with it. Math was my worst subject in school, but now that I can see how it applies to real life, it's my favorite thing to do. Number crunching is actually a hobby of mine now. So is data crunching - as an urban planner, I love using those skills in conjunction with Census data (and I'm oddly thrilled about the new Census this year) to track trends in demographics and real estate values over time to spot areas that are likely to see short and / or long term growth in both cash flow and equity. 

My own ultimate personal / professional goal is generating passive income through buy and hold cash flowing investments. I know the Washington DC, Frederick MD, Hagerstown MD, Philadelphia PA and Nashville TN markets very well, but I doubt there's any market out there I couldn't learn in three or four months if I needed to. I am a firm believer in "knowing your value", and I understand that a lot of people jump from that to "never work for free". I am not one of those people. I know my value very well, and that's why I have no problem with "proving my value", even if that means working for free for a little while for someone where I am adding value to their team and they are adding value to my goals. The way I see it, I spent a significant amount of money on my formal education, where not only did I "work for free", but I paid for the privilege. So why wouldn't I lend my skills to someone who could use them in exchange for them teaching me whatever they know that I don't? 

So if there's folks out there in the markets I know who are interested in getting some help, I am more than happy to help you reach your goals if you will help me learn from your successes and failures! I'll talk with anyone (that nonprofit fundraising background of mine taught me to talk to anyone), and I'll learn from everyone. And I'm sure if there's something I can offer you, there's something you can offer me, and we can figure something out that benefits everybody! I've got some capital to put into a good deal. I know how to number crunch to find a good deal. I've found dozens of great deals in the areas I already know (I love doing a regression analysis after a final sales price has been established merged with a prospective analysis on a project) - but before I pull the trigger on doing one myself, I know I have a bit to learn first. I do my due diligence on everything in life - measure twice, cut once. 

If you're in the areas I know about, let me know. I'm happy to take a look at a deal you're working on and give my thoughts and advice, as long as you're willing to do the same when I find one! Everyone working together means everyone winning together. I'm looking for advice on how to move forward with the skills and experience I have and how to translate them into the skills and experience I need to be successful in this arena.