All Forum Posts by: Ken Nyczaj

@Malcolm Lawson Thanks for the thorough reply and solid advice. I am currently working with a lender that is a mortgage broker for Wells Fargo. He's a friend of mine that's been in the industry for some time.

I bought my first house in 2016 and it's my primary residence, rate is at 3.375%. It makes sense what you're saying about renting this one out and living somewhere else for awhile, but due to my current circumstances it is something I cannot do. 

This next property I would be buying as an investment property, and putting 20-25% down which will likely get the rate closer to 4%. My credit is stellar so that will help as well.

I'll have more information in the coming weeks and will be sure to update you. Once again, much appreciate the advice.

@Andrew Syrios @Ozzy Sirimsi @Dave Visaya @Account Closed Thank you all for your encouragement and words of wisdom. Will update over the next few weeks as I learn more and speak to lenders.

@Zack Clopper Thanks for sharing. It's encouraging to see someone nearby have success with rental properties.

Also, wanted to add the Baltimore area is of interest for Buy and Holds. Thank you

Welcome @Amy Marie. Looks like you're off to a great start.

Hi @Padric Lynch. Welcome. I'm new as well. Best of luck to you.

Welcome @Clinton Vaughn. I am just starting out in RE investing as well with buy and holds being my first focus in 2018. Best of luck to you.

Hi @Dan Bryant. I started out on the Podcasts as well and then moved to the forums. Welcome.

Great introduction @Jason E. and welcome. I'm a new member as well and just made my first introduction.

Hello everyone, My names Ken Nyczaj (pronounced Niche-I) and I'm a 29 year old from the Annapolis, MD region. I've lived in the state of Maryland most of my life. The beginning of last month I was introduced to Bigger Pockets by a friend from Severna Park, MD. The first Podcast I listened to was #247 "How to buy your first (or next) property by the end of the year", and all I can say is I was captivated to learn everything I could after that.

Been reading the forums and listening to Podcasts ever since. Podcasts work out great for me as an outside sales rep for an aerial lift manufacturer. I'm constantly on the road, driving as far away as Florida or Montreal every other week and Podcasts help the 10 hour car rides go by, and there's nothing better than learning while doing something monotonous like driving. I saw the immediate value in Bigger Pockets Pro and decided to jump right into it. Can't thank Josh Dorkin, Brandon Turner and all the guests on BP enough for the enthusiasm and guidance on these Podcasts.

I'm definitely a newcomer in every facet when it comes to real estate. My current goal is to buy and hold two properties- either a single family, duplex or townhome before the end of 2018. The markets I'm looking at are Anne Arundel County, Prince Georges County and Queen Anne's County. Preferably within 10 miles of my house to cut down on travel time. I've learned a lot about setting criteria before investing in a property and I can't thank Bigger Pockets enough for that knowledge. I'll be looking for cash flow of at least $300 (50% rule being at least $150) and cash on cash return of 14%. It may seem like demanding criteria, but I will not get into a deal to lose money, and I won't have the additional expense of property managers, I'll be self managing. Looking at properties that are built in the late 1980's to help cut down on maintenance issues, I hope. Vacancy, CapEx and Repairs are all set at 6%, that seemed to be a reasonable percentage for homes built within the last 30 years.

Great to be part of this community. Thank you.

Ken