All Forum Posts by: James A.

@Sam Frank Great to hear you are doing the BRRR! I really like the concept of the BRRR. I think you already got your answer. But just wanted to let you know there is a local bank that does commercial loans on residential. I actually just go a project financed with them doing a partnership and we have it in an LLC. It is a fix n flip so it is a short term loan so you would have to ask them about what the stipulations are for doing holds, but just PM me and I will give you the name.

@Agustin Fernandez Glad to hear you are ready to invest!  I invest in Baltimore I am happy to help any way i can.  Just curious why you don't want to use any private money? I think it is a great idea to have some skin in the game but if you leverage might open you up to do a better deal.  Make sure you start going to some local meetups and groups to start networking.

@Lilly Nevers Welcome to the area and congrats on setting your goal for 2017!  I think once you start reading a lot of the posts about baltimore, you will quickly learn that it is a city that can provide great opportunity you just have to learn the areas.  I would really recommend going to meetup groups, there are a lot to choose from, and getting involved in the community to speak with people who have been in the market.  I think someone posted already about not just looking at numbers bc you really have to go look at the area that the property is located at and make sure that is an area you are willing to invest.  Also make sure to drive different places to get familiar, it is getting nice so it would be great way to spend a Sat or Sunday.  I hope to see you both around a one of meetings and am always willing to help if you have any other questions.

@Monica Young I know BP members are a big fan of BRRR. So you could borrow do a BRRR then when you refinance you could get your money back and pay off the loan. I remember a pod cast, @clayton Morris, not sure which number but he talks about using your 401K loan to invest. Hopes some more perspective helps.

@Joi Johnson Congrats on the recent graduation!  I actually work in DC and live in Baltimore so I am a huge fan of the pod cast!  Also want to encourage you to go to local investor meetings.  Am sure you are familiar with meetup; you have lots to choose from in this area.  Glad to hear that you are taking the steps to get your first house.  Think house hacking is great way to get your feet wet.  I bought my first house with a 203K loan but never rented out my second bedroom but looking back I would have done that in a heartbeat.  So I just wanted to let you know that might be a option if you can't get a duplex, the areas that you are looking in are great for picking up a roommate who can help cover your mortgage or if you have more than one roommate you might even get it to cash flow.  I hope i will see you around at one of the meetups and let me know if I can help in any way.

@Brian Marques Welcome!  The pod casts are great, they have some great info for people who are just beginning.  Make sure to start going to some local meetup groups.  Good luck and hope to see you around.

@Lashaw Salta all the info above is great!  I really like the one about going to network events.  You meet so many different people doing so many different things.  Just my personal experience, I am new investor also, but I was looking at a ton of properties just myself and if i saw something I liked I just would call the listing agent.  I think it has been mentioned on a couple pod casts that some people have success because if you are not working with a buyers agent then they could rep you and get both sides of the commission.  Another factor that really helps you is that you are getting your name out there.  I actually had two separate deals that were brought to my attention bc of agents i had contacted in the past and just told them what kind of properties I was looking for.  I actually couldn't take advantage bc I am wrapped up in another deal but I actually contact other investors who the deal might work for and connect them.  Hope some of that info has helped and if you need anything please feel free to contact me.  I am always will to help any way that I can.

Congratulations!  My fiance is getting her licence in April so I will be check back with you too see if you have found a good brokerage.  

@Natalie Nelson I like where your head is at!!  You never have to twist my arm to grab drinks and talk real estate. lol  I would love to start a mastermind group; my vote is Fri night happy hr.  Pick a Fri and lets make it happen, Canton and Fells has some great spots.

@Jasmin Mcduffie I hope you have made it a goal to buy your first property this year.  So Baltimore can be tricky because you have pockets of bad in good areas.  In general you wanna stay away from West Baltimore if you don't wanna deal with war zone properties.  You can find good properties around Patterson Park.  Federal Hill, Fells Point and Canton are the good areas but takes some digging to find good deals in those areas.  Hamilton/Belair area is hot for investment, Hampden is good area.  Remington is coming up.  You really gotta do your due diligence, it is great you are coming up and driving the area it is the only way you will get to know the areas.  As for realtors, I can recommend some but if there is a property you see and like call the listing agent and start talking with them; tell them you are from DC and they will be happy to share their insight.  If i can help in any way please feel free to reach out to me anytime.