All Forum Posts by: Jared G.

As I browse Zillow for properties in Baltimore, MD, I see many houses with multiple bedrooms, selling for under $150,000 with mortgages of less than $700 a month. I am familiar with the areas and know that they're not bad at all, and the photos show clean, nicely renovated places (new appliances, granite countertops, etc. - the typical good-looking family home). Yet, many of them say they've been listed for more than 100 days.

Why? Are there certain things wrong with these places that don't appear at first glance? Why wouldn't they have been bought? What's the catch, or what are possible catches in this situation? What other numbers and data should I be looking at?

I realize this is a very beginner question, but surprisingly I haven't been able to find a good answer with the guides and videos.

What actually constitutes good stats on a property? Every podcast story seems to feature investors who START with "I found this great property..." - but how do they evualute what's "great"? The guides here do a thorough job of defining the terms and strategies, but what about the numbers? What are "good" numbers for a beginner? Take Baltimore, MD for example. What's a "good" neighborhood there? What's too expensive (this one's probably easy)? Which areas are very affordable for the WRONG reasons? Which are up and coming and good for a first timer? Right now, the listings are like Greek to me. I know the definitions of things, but not if those values are good or not.

I'd just love an example of what, specifically, would be the numbers on a property that an average first-timer (buy and hold, rent out the rooms) should be looking for?

The best analogy I can think of is asking someone to put together a great baseball team and defining the terms average, home runs, and RBI but without any context of what typical numbers are. Sure, you could go with the players with the highest stats possible - but they won't be affordable. Or you could go for the cheapest players on the market, but their stats won't be good. I just want the housing equivalent of "good all around" stats for a given neighborhood so I can have a starting point and continue my research from there. What constitutes a great find? What qualifies as a hard pass? It's been difficult for me to put information together without context. And this is after reading and listening to tons of material.

Thanks all! I appreciate the help, I know it's out of your way.

Hello everyone! As a beginner, it can be hard for me to put everything from the guides into real-world context. Is there a tool, website, or video(s) out there that show many properties (real or hypothetical) with all of their listing information alongside an expert's analysis of them? For example, an expert saying, "Because of the X price, Y neighborhood, and Z estimated expenses, this property would be a great opportunity" versus "you should NOT buy this other property because of these X, Y, and Z problems" - etc. Basically something that would give me an idea of what constitutes good vs. poor numbers, good vs. bad neighborhoods, etc.

Thanks!

Thanks for the advice, @John Warren. This definitely sounds like something I want to do down the line. However, I feel like I am not even at that step yet, if that makes sense. I don't have enough context to know what kinds of questions to ask or what kind of information I should be taking in. I'm not afraid to admit -- even the beginner's guide was beyond me when it came down to the criteria. Is there any way I can start to distinguish good opportunities from bad ones so I can go into a conversation with at least some knowledge?

Hey everyone, and thanks in advance for your help.

I am absolutely brand new to real estate, living in the DC area. I do have a lot of "roundabout" knowledge of real estate because I've listened and read many hundreds of hours' worth of financial independence podcasts and books. That's what got me into it.

I've read the beginner's guide a few times but still feel as though I know much less than it assumes. Which is fine, I am eager to read and learn more, but I feel like I don't even know what I don't know.

For example, I've managed to figure out that a good beginner's path would be to buy a multiplex and live in it for a year while renting out the other units. That makes sense. But the guide talks about knowing your criteria before seeking to buy. It also says it can't tell you what your criteria are, because they're unique to each person. That makes sense, too.

My issue is that I have no idea what would constitute "good" criteria at all. I don't even know how one would typically conduct a search for a place. I know how much money I have, but not how much would be "right" to spend on a first property. How do you know what qualifies as a "good" neighborhood, a "good" property, a good price for that property, and other "good" values? Other than "as low as possible" or "as high as possible." I want to get my criteria right, my neighborhoods right, my timing right, etc. But I don't know what kinds of questions to ask here because I can't wrap my mind around what these things are.

I'm finding it hard to research further because of this. The guide makes it seem like these terms are things I should already know. 

Can anyone recommend anything further that isn't just for beginners but is for particularly LOST beginners? Are there any "for dummies" style guides to even the most basic of guides? Thanks!

Hey, everyone. My name's Jared and I live in DC. I'm in my mid-20s and have become interested in real estate investing through my main passion of financial independence. I must've read and listened to every post and podcast on FIRE, and am now trying to take that same research to real estate. Ideally I'd like to pull off buying a multiplex and living in one of the units for a year.

I'm feeling a bit overwhelmed, especially because I've heard countless times that DC is not a good market, especially for a beginner. I'd love to hear your opinions! Thanks for reading.