All Forum Posts by: Benjamin Seibert

@Mark Cruse yes, I am. Have you had good luck with them?

@Mark Cruse what property manager did you decide to go with in the area? 

@Mike Webb I'm currently under contract on the property and am set to close at the beginning of October. Things are starting to wrap up now with an end in sight.

@Michael Bridgett I haven't pulled the trigger yet in Waynesboro, specifically. I'm moving forward on a property in Hagerstown, but I don't want to count my chickens before the eggs hatch. The market itself is pretty small, but stable. The prices tend to be slightly less than the Hagerstown, MD market and rents tend to be about the same as well. Not many new properties show up on the market in the multifamily sector (on the MLS at least). Single family properties can be found for a reasonable price to rent out though.

Good luck to you as well!

Hey Jared! Welcome to BiggerPockets. It sounds like you're on the right track by learning as much as you can through the podcasts. I would recommend reading a few books like Millionaire Real Estate Investor, Rich Dad Poor Dad, etc...

Yes, the D.C. area is very expensive. Investing can work in the area by having more capital or being creative. There are areas in VA, PA, DE and MD that work for investing though. I would try branching out and investing in an area outside of DC to get started.

Welcome Kelly! You've definitely come to the right place to meet more people and learn more about investing! It sounds like you're already on a great path!

By the way, good luck on the ultra marathon! I'm currently in the process of training for the Baltimore marathon.

Hi Luis. I would recommend continuing to learn and building up your savings. You can start networking and contacting realtors, contractors, property managers, etc... to build your "Core 4." You could also try to find another person to partner with on a deal, where you have to bring little/no money and just put in sweat equity. $10k, depending on the investment type, is still slightly low for purchasing a passive rental property. Even properties that are usually $40k-$50k will usually require some extra capital for repairs (as well as closing costs).

$8k in taxes and insurance??? Wow... with the rent being $1200, you could only make a maximum of $6k (excluding management, maintenance, cap ex, etc...). Something's gotta give though. Is the property properly tax assessed? If those were the numbers for everyone then almost nobody would be able to make money.

Welcome Malik! It sounds like you have things pretty well planned out. Good luck getting started in real estate investing!

Hey Jimik! Welcome to BiggerPockets. I would definitely recommend getting started by reading as many books and learning as much material as you can about investing. If you search book recommendations on the site you'll find a ton (Rich Dad Poor Dad, Millionaire Real Estate Investor, etc...). You can also listen to the podcasts and stay active in the forums. Then I would recommend refining your investing criteria to what will suit your goals (flipping, SFH investing, multifamily, etc...). This will help you narrow your search when it comes to looking for properties. Then possibly reach out to a few people who are active in the type of investing you want to purse. Finally, I would jump in and go after your first property!

Good luck getting started in real estate!