All Forum Posts by: Alyson Anderson

@Allen Zhu

I would look at the numbers and see what makes sense. My last few deals have been in my personal name because we were unable to refinance with amazing rates in my llc. I manage my properties in the llc and the money runs thru my llc.

I ran this by my cpa and lawyer prior. I recommend you do the same.

@Aditya Singh Thakur

Welcome!! BiggerPockets is a great resource! I would love to know your short term and long term goals? What kind of funding are you interested in? It is always super important to meet with several lenders to gain education and bounce ideas off of them. A strong team prior to buying a property in your investing area is super important, especially being out of state.

I am a Maryland/ Pennsylvania Realtor and currently own 8 long term rental properties throughout Maryland. There are a lot of great opportunities around! Good luck!

@Andrew Reilly

Do you currently own your own house? I agree, a house hack would be the best option. There are tons of great loan programs available right now. I love encouraging new investors to house hack because they can learn to be a landlords and live relatively inexpensively. If you own your own house already, have you had a realtor come look at the value of your house? Maybe you have hidden equity with the craziness of this market.

Another option is teaming up with a more seasoned investor and gain experience to build your resume + nest egg. Good luck!

@Jennifer Pauyo

Maryland/ Pennsylvania Realtor and investor! I currently own 8 doors and just hired the best assistant. Last year I had a blast shooting this video for BiggerPockets

https://www.youtube.com/watch?v=kRpr0Wwya8U

I love seeing other strong females kick butt!

@Sunny Sopapunta

Out of curiosity, why did you pick that specific area in Maryland. What is your goal- are you looking for appreciation or quick cash flow?

@Justin Lehoskay

What are your thoughts on teaming up with a more seasoned investor and learning as you go? This is a great learning tool and resume builder. I find it difficult for a lot of my new investor clients to get great rates on hard/ private

Money. Please be mindful of scams! I’ve sat at a closing table before just to find out the private lender was fake.

The more resources you have on your team the better. When I present a deal to my hard money lender I always give them comps (bc im a realtor I do it), who I plan to use for subs, a timeline, arv, etc. Local realtors, contractor, subs, and handymen are super important.

@David Jackson

Call the county and do your homework to verify you can convert the property. Also, speak to several different lenders to see what financially makes sense. Look at local banks and credit unions. They are a wealth of knowledge and I’ve bundled several properties like that which made more sense financially. Make sure you also take into consideration the maintenance, taxes, state laws, etc in those areas.

@Bruce Woodruff

100%! Inspectors with experience not only help find potential hazards/ issues but a lot of the time they provide great recommendations to add equity and provide long term success. I look for inspectors who have experience with other investors and potentially own their own.

Ask your local realtor for recommendations. My inspection always provides great helpful tips. For example, always tie in the fan with the light to prevent mold in the bathroom on rentals.

@Andrew Barbaro

Welcome! Your budget is best fit right along route 40 from baltimore county (Dundalk) all the way up into cecil county (north east). The brrr method has become a little challenging in this market and I HIGHLY recommend you talk to several lenders and educate yourself. I have found several brrr deals in cecil county for my clients recently and personally have done a few. It is essential to have a strong team prior to pulling the trigger. Remember time is money!!

@Sunny Berhane

Welcome!!

I am also from Maryland! I currently own 8 doors throughout Maryland which have great cash flow. Last year my husband and I had our 2 child. We both worked shift work and decided we wanted to spend more time raising our children. Our rental properties gave me the confidence to leave my w2 job and continue my passion in real estate. As a realtor I LOVE working and educating other people to grow in their RE career.