All Forum Posts by: Edward Holland

32 units - Maryland! (in state) 

Hi @Brian Silvia,

Congrats on making the moves to get into real estate investing. I have talked with many investors and I have yet to find anyone who regrets it. 

I am pretty experienced in multifamily investing, also primarily in Maryland. Consider me a resource if you have any questions or ideas you want to bounce off another brain. I am always happy to help anyway I can! 

Best of luck to you! 

I know this is an older thread but....I live in DC and I choose to drive 1.5 hours to use Old Towne Title in Hagerstown MD. They are amazing! 

@Joshua DaVanon Congrats on the decision to make some changes! You won't regret getting into real estate. 

I just turned 29 and I have never owned a primary residence. I do have a portfolio of 32 rentals which I have accumulated over the course of ~4 years. Had I owned a primary residence I would not have been able to grow the way I have. I moved into a very affordable duplex to decrease my expenses and save some money. It happened very quickly. When I went to the bank to get my first loan (5 unit multifamily) I had no existing debt to hurt my debt to income ratio which made the lending process simple. Having decreased my overall expenses (by moving into a cheap rental) my w2 income was more than enough to support the purchase even without the rental income. If your goal is to get into multifamily - go for it! Don't let the pressure of purchasing a primary residence get in the way.

I think @John Leake is spot on!

Best of luck to you in your portfolio expansion @Caleb Smith!

I have lots of thoughts/questions around your plan, but in short, there are no flaws. what you are saying is completely legit and possible. 

I will say - if you are going to purchase something via the 1031 that will require some level of financing (ie. > 1.3mm), some (most) banks require the asset to be held for 1 year before they will do a cash out. Again, this is only if you will have some level of principal debt on the new asset. If you are doing a cash buy then this isn't a concern.

Best of luck to you! I would also love to hear about this development project in Mexico. International developments have always been intriguing to me.

I love @Joe Villeneuve's response. I think it perfectly captures what I try to tell everyone. 

Do your due diligence, do it again, and BUY! 

A good deal is a good deal. regardless of what the market does. Real Estate price fluctuation =/= rent price fluctuation. 

Best of luck to you! 

Hi Dustin, 

full disclosure - I am a licensed agent, but I have also purchased several properties as investments and I have always used another buyers agent to represent me. 

My advice is in regards to the more typical transaction. Not a wholesaler deal. 

I always encourage buyers to use an agent. It just takes away so much of the headache in the buying process. Especially when you consider that you are really only looking at a 2.5 - 3% savings... while this may be significant if you are buying a multimillion dollar property, its really pennies on your mortgage if you are looking at real estate on the inexpensive side. I would also mention that where it is allowed, listing agents who act in a dual-agent capacity are going to want to realize that dual agent commission and will be minimally interested in sacrificing a portion of their commission and almost certainly not half. They may agree to give a 1% discount ( or somewhere around there).... which once again is saving you a trivial amount of money in the long run. Let someone do the work for you and let the seller pay their commission. Good Luck to you! 

All the best, 

Edward

Not in Frederick that I know of. I’ve heard of Hagerstown and one closer to Baltimore. 

Hey @Logan Beckner, I’d be interested in a Frederick meet up!