All Forum Posts by: Alvaro Zumaran

I need some serious help to determine if a property that I am looking at is worth the pursuit. The property is a 3 unit home that is in a good area and is in good condition - it will need some updating thought. I have included a snapshot of the rental property calculator tool so that you can see the numbers below. If I were to consider living in one of the units, it looks like I wouldn't be able to hit my goal of living rent-free. I don't know how to determine the closing costs, and I don't know how to determine the ARV. I was also considering the FHA 203k loan for the minor touch up and updates. Thoughts? Advice? Thanks in advance!

Welcome! I am also a noob with my first buy & hold in the horizon.  I would definitely suggest meeting up with members in the area - even if they know less than you, it serves as good "therapy" to get your ideas out and share your thoughts with someone that has the same mindset as you.

Hi! I'm currently focusing on a multifamily buy & hold in Baltimore County, but I would also like to explore flip options in other areas of the DMV.  I would definitely like to hear what you and @Tom Robinson would like to plan out.  Let me know!

Hello,

I am currently living in Hanover PA, but I am also interested in REI options in Central Maryland. Please keep me updated on this. Thanks and God bless!

I am currently about $40K in debt right now (school debt & credit cards). I have been told by a financial adviser (fiduciary) that I should at least cut this down to less than $5K before I consider any REI so that I can avoid putting on more debt and so that I can be on 'solid ground'

Is this advice agreed upon unanimously by the community?  I'm sure that there are at least a handful of members that were/are in the same boat as I am.  Aren't there deals that I can make with low (to no) money down where I can at least learn the ropes?  I am willing to get in the game and not make tons of money my first few deals if it means that I get to learn valuable lessons - instead of waiting 2 years to pay off debt.

Any and all advice would be deeply appreciated.  Thanks!

haha - and also with you!

Thanks for the welcome, @Stuti S. I hope things are going well for you!

 Hello Erin, thanks for the welcome.  How long have you been in the game?  I'm sure that you have very interesting war stories - perhaps we can set up a time to discuss?

No worries Laura.  Yes - all the areas you listed are on my radar.  Perhaps you can direct me towards Greg Kinnear - I wasn't able to find him on BP.  It wouldn't hurt to have an informal intro, don't you think?  Thanks in advance!