All Forum Posts by: Sam Lewis

@Brandon Fuhrman, Cash is King. Most people who go bankrupt do not do so because they owe more than they are worth. It is because they owe more than they can pay. They can't make their monthly nut. Unless you have a job that allows you to afford being cash flow negative, in the beginning I would focus on cash flow until you build up enough that you can make more speculative bets. Because appreciation plays are all speculative and should be left to experienced players who can afford to be wrong.

Yes, you will make way more money on appreciation in the long run, but it works both ways. It will wipe you out way faster and before you even get started if you bet wrong. 

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I am a agent but also an investor in the Baltimore MD area. I flipped a total of 7 houses before with a partner. I am jumping back into investing but want to have options such as reliable contractors (our last few deals tanked because the contractors ran off with money or just took to long to finish the project) and more hard money lenders or private lenders because our interest rates an points was a little high. Can anyone help or guide me

Hello folks,

My name is Felipe, I'm RE investor and just got my RE license past month.

After a few years of investing in real estate (99% of my investments was raw land acquired through tax lien and tax deeds), I decided to invest in houses to have constant cash flow.

I'm currently living in Baltimore MD and I just got my RE license because it makes sense to me to invest in a career as a realtor,

This year I bought one of the units that I used to do rental arbitrage (airbnb) in Orlando area.

The owner was scared when COVID hits and he thought the RE market was about to sink like 2008-2009 so I got a great deal on it.

I bought a 4bd 3bath with private swimming pool in Kissimme FL

Purchase Price: $210k

I've put 10% down + Closing costs

Mortage rate: 3.5% locked in May 2020. 

PITI: $1285.00 (About $1000 less than I used to pay as rent in this house)

Lender appraisal: $235k (May 2020)

Cashflow: $665 after paying ALL expenses including HOA, utilities, and cleaning crew

(Before the pandemic I was cash flowing about $1k even paying $2100 in rent)

After I bought the house I spent about $3k on the house and did all the work myself

Fresh paint inside, renovated/painted installed fixtures on bathroom vanities and kitchen cabinets, they look as brand new right now, replaced some other fixtures in the house, and more.

All comps inside the resort are selling for about $250k right now.

I'm looking forward to buying a house in Baltimore this year or beginning 2021 and I can lock my rates at 2.8%

Do you guys think it's a good idea to refinance to take advantage of lower rates since the comps are good and most likely I think the appraisal will get a little higher due to the Improvements in the property as well?

I'm looking forward to hearing your pandemic deals as well!

Felipe Stefanoni

Real Estate Agent (MD)

Hello everyone,

My name is Paul and this is my first post on BP.  I'm a 36 year old Afghanistan and Iraq war veteran (no longer on active duty) looking to purchase my first investment property sometime late next year.  After discovering Brandon's "The Book on Rental Property Investing" three months ago, I've been listening to BP podcasts daily, reading several books, and have fully delved into the world of real estate investing.  

I wanted to come out and introduce myself as I am sure I will have a lot of questions both as I develop my business plan, and as I look to someday venture as a full-time, long-term buy and hold real estate investor. 

I'm particularly fascinated by the BRRRR model, and am planning my first investment purchase in Maryland or Virginia. I'd love to chat with anyone interested in talking about their experiences in this market, and any do or don'ts or in other markets.

Thanks in advance and look forward to connecting,

Paul

Hey everyone, 

Are there any currently active (through video chats I would assume) real investor meetup groups in the Baltimore area? I'm looking to get started as a real investor and am interested in a few neighborhoods in Baltimore. Would love to find a group to chat with folks in the area to get a lay of the land. 

Thanks!

Brad