All Forum Posts by: Nick Holmes

@Blake Clothier Awesome, thanks for replying. Already made a few great connections from this post and would love to make more. Please feel free to reach out and connect here or on LinkedIn and let's talk!

1 Vote

Baltimore, Maryland

Quote from @Wale Lawal:

@Nick Holmes

Your family connections in Memphis and Baltimore make you a strong investment opportunity in real estate. Memphis offers affordable properties and strong cash flow potential, especially in small multifamily properties. Start your journey with a VA loan, delegate property management, explore commercial real estate, and network with investors through local real estate investor groups or military veteran investor communities.

Good luck!

Much appreciated! Thank you and feel free to reach out and connect.

0 Votes

Baltimore, Maryland

Quote from @Hamp Lee III:

Quote from @Nick Holmes:

Quote from @Hamp Lee III:

I'm active duty Air Force (for less than six months) before retiring after 30 years. I have four properties and three are VA loans. Using your VA benefit is a great way to get started in real estate.

When buying properties, lenders wanted to ensure the property we were leaving had a lease agreement or under a property management contract.

Qualifying for a VA loan has slightly different criteria than a conventional loan.

I wish you all the best in your investing journey.

Thank you for your service and congrats on the upcoming retirement, brother!

I know I can use it for a MFH and house hack. Did you do that, or use the VA loan for your primary, live in it for 2 years, buy another primary, live in it, etc?

Yes, I lived in each home.😉

Lol, understood my man!

0 Votes

Baltimore, Maryland

Quote from @Hamp Lee III:

I'm active duty Air Force (for less than six months) before retiring after 30 years. I have four properties and three are VA loans. Using your VA benefit is a great way to get started in real estate.

When buying properties, lenders wanted to ensure the property we were leaving had a lease agreement or under a property management contract.

Qualifying for a VA loan has slightly different criteria than a conventional loan.

I wish you all the best in your investing journey.

Thank you for your service and congrats on the upcoming retirement, brother!

I know I can use it for a MFH and house hack. Did you do that, or use the VA loan for your primary, live in it for 2 years, buy another primary, live in it, etc?

0 Votes

Baltimore, Maryland

Quote from @Jack Seiden:

Quote from @Nick Holmes:

Good afternoon,

Long time lurker and podcast listener. Grew up in Memphis, TN, graduated from University of Memphis, then joined the Marine Corps. I did 12 years, got out last year, and started a defense consulting firm. I've been at it fully remote for nearly two years and I absolutely love it. But I'd also like to get into RE to leverage our current income to set up future wealth and (mostly) passive cash flow via LTRs on SFH/MFH/maybe some commercial. Not interested in doing the manual labor side or being a property manager (I'm "old" and arthritic and 100% P&T disabled thanks to the ole Corps!), but I do have 830+ credit, cash, solid income, and no debt save for a new vehicle that I can very easily afford.

We do need to buy our primary residence in April/May 2025. For that, open to a house hack. Since we don't have our primary yet, I feel like it doesn't make a ton of sense to get into buying rental properties and potentially hurting my own mortgage loan application. I do plan on using my VA loan.

I guess I'm just looking to reach out and interact with folks in the Baltimore and Memphis areas both. I'm leaning more towards investing in Memphis since I lived there for 24 years and have tons of family and connections in the city, but of course I'm open to Baltimore, too. I'm just newer here and can't speak to the nuances of certain areas as well as I could for Memphis. I will say: they're very similar cities in a lot of ways, but I'm not scared of it.

Please feel free to reach out, tell me I'm dumb, make a joke about Marines eating crayons - I'm here for it!

Nick

1st of all I would recommend not eating crayons, I don’t really understand military humor but if you are eating crayons I’d recommend taking care of that issue before you are ready to buy real estate, 2ndly I’d make this decision based on where you want over where to “invest”. As far as Baltimore, the city has some nice areas that have been mentioned above, but all thing equal im partial to the suburbs, Howard, Anne arundal and Baltimore county in particular.

Crayon eating is one of the most common jabs at Marines because we aren’t typically known for being too bright. I’m trying to quit, but they keep coming out with new flavors.

I hear you re: areas in Baltimore, I agree. I just know Memphis better. I’d love to connect with folks here in MD that are active in the area, though. Happy to buy someone some lunch and pick their brains!

0 Votes

Baltimore, Maryland

Quote from @James Wachob:

Welcome @Nick Holmes

Thank you for sharing your story! It’s fantastic to hear about your successful transition from the Marine Corps to running a defense consulting firm. I appreciate your service and dedication.

Given your connection to Memphis, it sounds like a great choice for your real estate investments. Memphis offers several advantages that could align well with your goals. The city has a relatively low cost of entry for real estate, which is beneficial if you’re looking to maximize your investment while keeping initial expenses manageable. Additionally, Memphis is known for its strong rental market, with a steady demand for rental properties, making it a promising area for generating reliable cash flow from long-term rentals.

Your familiarity with Memphis is a significant asset. Understanding the local market, neighborhoods, and community dynamics can provide you with a valuable edge in making informed investment decisions. Moreover, Memphis has a supportive community for veterans, which could offer additional resources and networks to support your investment journey.

Since you mentioned not wanting to handle property management yourself, there are reputable property management companies in Memphis that can handle those responsibilities, allowing you to enjoy the benefits of rental income without the day-to-day management tasks.

Balancing the purchase of your primary residence with your investment goals is a prudent approach. It might be beneficial to start evaluating investment properties in Memphis now while planning your house hack closer to your move date.

If you have any questions or need more insights about the Memphis market, feel free to reach out. And thank you again for your service; your discipline and experience will undoubtedly serve you well in this new venture.

I know ChatGPT when I see it, and I respect it. lol. Thanks for the kind words, feel free to connect here or on LinkedIn. Hope to keep in touch.

1 Vote

Baltimore, Maryland

Quote from @Dina Nicasio:

Hi Nick, It's great to hear you're ready to dive into real estate investing! Best of luck with your investments!

Much appreciated!

0 Votes

Baltimore, Maryland

Quote from @Russell Brazil:

Quote from @Nick Holmes:

Quote from @Russell Brazil:

Quote from @Nick Holmes:

Good afternoon,

Please feel free to reach out, tell me I'm dumb, make a joke about Marines eating crayons - I'm here for it!

Nick

If you buy in Baltimore, stick to Canton, Fells Point, Brewers Hill, Federal Hill, Locust Point, Hampden, Mt Vernon.

That’s the plan, to appreciate that. We’ve spent a good amount of time in DC, as well. I see you do business there. Recommendations for DC?

We do business in both DC and Baltimore.

DC has plenty of great neighborhood. Most of DC is pretty ok to buy or better. It's basically the polar opposite of Baltimore. Baltimore is cheap, has low incomes, a declining population, high taxes. DC is expensive, has high incomes, a growing population and low taxes.

All good points. I’d be interested in hearing more about investing in the DC area of you wouldn’t mind me reaching out.

0 Votes

Baltimore, Maryland

Quote from @Jordan Ray:

Quote from @Nick Holmes:

Good afternoon,

Please feel free to reach out, tell me I'm dumb, make a joke about Marines eating crayons - I'm here for it!

Nick

Hey Nick! I am an Army Veteran with a 1 year deployment and currently still serving in the Army National Guard (8 years of service) and as a full time real estate agent. I bought my first home with a VA loan back in 2020 after my deployment and that purchase has lead me right into real estate with using my equity to buy my 1st property and then on to building a small portfolio. I would love to help you find a duplex that meets your need to do a house hack! Feel free to DM me and see how I can help you get started there! Talk soon!

Thanks for your service, brother. We will continue to live in MD as my fiancée’s family is all here, but I think it’d be very realistic and *relatively* easy for me to invest in LTRs in Memphis. All of my family is still there and I’ve still got a ton of ties.

You do any of your RE work or investing in the Normal Station area by U of M?

1 Vote

Baltimore, Maryland

Quote from @Russell Brazil:

Quote from @Nick Holmes:

Good afternoon,

Please feel free to reach out, tell me I'm dumb, make a joke about Marines eating crayons - I'm here for it!

Nick

If you buy in Baltimore, stick to Canton, Fells Point, Brewers Hill, Federal Hill, Locust Point, Hampden, Mt Vernon.

That’s the plan, to appreciate that. We’ve spent a good amount of time in DC, as well. I see you do business there. Recommendations for DC?

0 Votes

Baltimore, Maryland

All Forum Posts by: Nick Holmes

Nick Holmes has started 1 posts and replied 11 times.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.

Post: Want to finally get started! Living in Baltimore, from Memphis.