All Forum Posts by: James A.

@Keith Ledesma educating yourself is a great place to start!  I can tell you i am in the same situation bc i still work a full time job and have a 3 hr commute everyday to DC.  I am doing a fix n flip in fells and can offer some advise.  When i started my day was up at 5:30 am catch my train to DC do my 9-6. back to Baltimore around 7am on the computer looking at deal for 1 hr+.  I work mon-fri so I really made the most out of my weekends.  Looking at houses.  Driving neighborhoods going to investors meetings.  The deal i am in now I credit my ability to doing the deal to the people I connected with while networking.  I am currently pursuing fix n flip and have heard time and again how people loss money or just break even when they are not experienced.  I found a great deal that would allow two people to make good money and partnered with someone who has had success doing what I want to do.  This allowed me to partner with him meet the same people that he has surrounded himself with and also learn from what he has learned.  My advise look at lots of deals, get good at telling good deals from bad, network like crazy and have your own personal affairs in order; so when you find that deal you can pull the trigger.  Hope some of that information help and it encourages you that you can still do this while having a full time job. Feel free to reach out, I am always happy to help in any way I can!

@Terrence Ruffin congrats on your success in bodybuilding!  Good luck on your move here.  Remember Baltimore has its pockets, so make sure you take some time to get familiar with the area when you get here. Hopefully i will see you around the investment community.

Welcome William Flowers!  Great to hear you have the support of your wife, I think it is important to have your significant other in your corner when you start on your journey.  I am sure you already know there is a wealth of information on BP.  I would also recommend you start to hit up local investors groups in Baltimore.  You will start to get a feel for what areas you might want to target and if you haven't decided what strategy you want to pursue, I would spend some time really thinking about what is going to work best for you.  I invest in Baltimore and am happy to help any way I can.  I hope i will see you a one of the investor groups.  

@Paul DeAngelo  I spoke with them about three months ago bc they were recommended by another investor.  I have heard good things about them but have never done business with them.  When I spoke with them, they charged 2 points and i think it was 12% at that time.  10% down on the purchase and they cover 100% of the rehab.  Interest only payments.  I was told also that once the loan was paid back it was like a revolving credit line.  Hope some the info give you some insight.  Good Luck

@Gina Baker Have not decided on a spot yet, but was thinking Fells or maybe Hampden.  If you have any good suggestions def open for a good spot.

@Gina Baker Welcome!  Congrats on your buy and hold investment.  I don't know if you have been to any of the local investment meetings but they are a great place to network and learn from local investors.  @Sam Frank and I have been talking about trying to organizing a local happy hr.  Hopefully we can get it put together and see you there.

@Erin Stephens Welcome!!  Looks like you both are on your way.  Sorry to hear you have major issues on the prospect.  Keep your head up and keep us posted on your progress!

@Raymond Odemns  I think you got a alot of great answers.  I am currently doing a rehab or fix and flip myself.  I do live in Baltimore.  I actually work in DC so my days are very long but just want you to know it can be done.  If you are not from the area I think your biggest strength is gonna be finding a good investor realtor.  I am from the area and when i am looking at a deal I am still having my realtor look at it and double check my numbers.  One of the other people posted about going to local meetups and networking, which is great advise bc as a couple people mentioned Baltimore has its pockets so you gotta make sure you talk with someone who knows.  I was actually just at a meeting the couple weeks ago and a veteran Baltimore flipper told the story about a flipper who was from DC bought a property literally a block over from another block and lost about 20K just bc they didn't know the difference that their block was a bad one but the one right next to it was good.  Hope I will see you around the meetings and If you need anything I am always happy to help any way I can!

@Michael G. there is lots of great information about getting or pursuing a commercial loan.  I can offer my option based on your comment about having little capital. You could pursue owner financing.  If you are looking for apartments it is not that abnormal to get owner financing for deals like these.  It allows you to be more flexible and don't have to worry about qualifying with any bank. 

@Azah Che Welcome!!  If you are really serious about your goal. I would make sure to start learning as much as possible and start networking like crazy.  I like the fact you are setting your sights high.  I wish you the best of luck and I am always happy to help with whatever i can.