All Forum Posts by: Lamont B.

I too just started REI, although I am not familiar with the "new" Dundalk, I have read on BP that area is ideal for renting vs flipping. This past weekend I looked at 2 properties in the Hamilton area and 1 is already gone. Reach out to a Realtor you trust and ask their opinion. Good luck.

@christopher pepper I'm new myself to real estate investing, but very familiar with Baltimore-born and raised. The area is a crime hot spot. If it wasn't for the college, that area would be worse than it is. Like you I'm trying to jump into REI, so I have to be cautious within my financial limits. Not saying to disregard the opportunity, but know the what you are getting into. Any questions just ask about neighborhoods.

I just read about the HomeStyle loan for investors.  Thanks @Patsy Waldron for the info.  Seems kind of straight forward. 

Thanks for the input

Thanks @Tom S. My plan is to buy and hold homes that fit my price range until I build my finances. When using the bank, do you apply for a loan that covers rehab cost or do you fund your improvements?

Afternoon BP community,

I'm really new so bare with me.... Since reading Ultimate Guide provided by BP, I've been thinking about how to finance my first investment.  So far I've contemplated cash advances from credit cards, home equity loan (just moved in so may not be much there), bank loan, 401K, etc Is there a "best way"or get the funds from whoever is willing to give it to you.

Any guidance will be appreciated. Thanks

Thanks @Mark Nolan @Jamal L. @Gregory Shinn for the welcome and kind words.  I'm still trying to find my way around the website, but I will take the advice given thus far. 

Hello BP community, I've finally made the decision to get involved into REI. Like most people, I've been to the local seminars where they tell you how much they made "and for $$$$ I'll tell yo the secret to my success." So far I've tried to purchase property as rentals (owner suddenly raised the price by 10k), also tried to purchase tax liens from Baltimore City/County. Another swing and miss. I've watched the DIYers, flippers, first time flippers, and decided to get involved. The thought a financial dependence is a factor, but being an example to my community is probably my main driving force. Years of being told what you can't do can impact your thinking.

Fortunately, I have a wonderful job in DC; more importantly, I have an awesome wife and a great 3 year old.  Despite my swing-n-misses, I did make some smart decisions that put me and my family in a comfortable position.  We just purchased our second home, but the next home we purchase will be the first for our investment portfolio!

Lamont