All Forum Posts by: Larry Smith

Hello BP, My wife and I are new investors stationed at Fort Meade currently. We have one property in Alabama thus far, but are considering shifting our focus in the local area extending up to Baltimore. We have been in Maryland for one year, have driven-for-dollars, searched the portals, but would like advise from those of you familiar with the area or with any experience.

We have some money saved, however, we know to get started it requires us to save more than 10K. Our interest right now would be a MFH for rental or a SFH for BRRRR or flip to increase our finances for future, longer term property investing.

Financing options we have considered are an FHA for possible home hacking, but we would not want to move somewhere we would not want to raise our children. Also, we have briefly researched a 203k rehabilitation loan and would be interested in hearing from anyone who has used it or truly understands its in and outs.

BP, we are definitely looking for any advise you all may have as well as any recommendations to move forward in our area.

Hello BP, My wife and I are new investors stationed at Fort Meade currently. We have one property in Alabama thus far, but are considering shifting our focus in the local area extending up to Baltimore. We have been in Maryland for one year, have driven-for-dollars, searched the portals, but would like advise from those of you familiar with the area or with any experience.

We have some money saved, however, we know to get started it requires us to save more than 10K. Our interest right now would be a MFH for rental or a SFH for BRRRR or flip to increase our finances for future, longer term property investing.

Financing options we have considered are an FHA for possible home hacking, but we would not want to move somewhere we would not want to raise our children. Also, we have briefly researched a 203k rehabilitation loan and would be interested in hearing from anyone who has used it or truly understands its in and outs.

BP, we are definitely looking for any advise you all may have as well as any recommendations to move forward in our area.

@Frank Patalano...So my wife and I were roughly forced into property investment because of a military change of station, but immediately saw the potential. Now that we have saved some towards our next property, there is the fear of not having enough, picking the right location, picking the right property for us (SF vs MF), having a great team since we are military and separated from most places we have considered, and finally nagivating the approval process. There is so much to consider when purposely investing that we do not mind being less than perfect, but do not want to be completely wrong. Any advise would be great!

@Benny Morfas, Many of the responsives have much more experience than I, so know that advice come from limited REI deal making. We current have one rental out-of-state in a location that we lived in for roughly three years. If I buy another in that area, I have some understanding of the market and the neighborhoods, whatever thwor class may be. From a newbie to a newbie, my advise would be to stick to what you know and stay local first. My PM was also highly recommended and is now a trusted advisor...build a team!

@Stuart Grazier, Appreciate the encouragement. I'm putting the application in to prepare for making my second deal.

@Scott Jensen Thanks! I don't have a deal in mind at this point, I have been looking in potential markets (Michigan, Florida, Alabama, Tennessee) and analyzing deals of properties I see. I don't think I will be borrowing the 50k, but I will be taking out early so I'm prepared when I make a decision where. Thanks for your advice.

Hello BP family, 

So, I'm currently in the military and have been able to acquire one property so far. My wife and I definitely interested in another, but want to move on it sooner than later. I'm considering borrowing from my TSP to add to our current savings? Is this a bad idea that I should steer away from or your experience is it worth it? We have savings already from our SFH, but are looking to invest in a multi-family to increase cash flow.

If this is the wrong forum for this question, let me know where to post. Thanks! 

Hello Everyone,

I currently have one rental in the Prattville Alabama which is being managed by a PM I am unhappy with. Can any of you suggest a PM in or around Montgomery or Prattville Alabama? Preferably, one that you have worked with or are familiar with through trusted references. This is my first property being managed while I'm living out of state. Thank you to all who may reply. I am new the BP and do a formal introduction post soon.

Hello Everyone, 

I currently have one rental in the Prattville Alabama which is being managed by a PM I am unhappy with. Can any of you suggest a PM in or around Montgomery or Prattville Alabama? Preferably, one that you have worked with or are familiar with through trusted references. This is my first property being managed while I'm living out of state. Thank you to all who may reply. I am new the BP and do a formal introduction post soon. 

@Ryan Swan I haven't actually had to use them yet while I have had tenants, however, I had a better experience while using them and living in the house at the time. I do feel as if just having the money to make the repair immediately would serve me and the tenant better. Thanks!