All Forum Posts by: Eric M.

 +1 to this. Zig when others zag. It won't always work, but this is a principle that will absolutely serve investors well over the long term.

Dmitry assisted me with my Solo401k. If it's an option for you, I think that is likely the best overall choice, if for no other reason than it allows the highest contribution limit. Saved me quite a bit in tax liability for this year.

I agree with this. Most of the time, the "classic" offices are not going to support it, because there is no commission. If you are going to do lease options, you are frankly better off just doing them as a "private investor." Of course, you may be (and probably are) subject to disclosing your status as a licensee even if you do lease options privately. 

As for MD lease options: I don't see any reason that they wouldn't be available in Maryland. The biggest problem will be finding motivated sellers that meet the criteria for a good lease option. Good luck!

I agree with most of the others. I'll aim for market rate, generally.

Good tenants that create few headaches might get an extra year or so below market rate, but not substantially. Problem tenants may be faced with a rent increase earlier than others, and I will typically try to get slightly above market for any new tenant, assuming I can do so.

At the end of the day, the market is the number one factor, with slight "nudges" one way or the other based on the above factors.

I left you guys a review long ago when you asked for it on the podcast. Anyone that waited for a forum post to prompt them is a slacker!! ;-)

Seriously, I've learned tons of great stuff from the podcast, and you really do a great job. Looking forward to many more.

I agree with @Bryan L. almost entirely. 

My and wife purchased in an "up and coming" neighborhood in an expensive market in 2009 (Wash DC). Now, to be clear, "up and coming" is a polite way of saying "not the nicest area." So, there are drawbacks. However, today, we have approx. $230k in equity that is being used to invest in more real estate. 

If you can own AND aim to make your primary home something of an investment in and of itself, I think that's the best of both worlds, IMHO.

 I drive a 2004 Dodge Stratus. I think about replacing it every month, but it runs good, few problems, and the number one reason I don't buy a new car is for this reason. I can take that money and put it in a new property! Probably silly, but it definitely keeps me from spending on big-ticket items I don't need.

All things considered, I don't consider this a good strategy, but if you have a lot more time than money, there is an argument for doing it as a possible way to get started. If you try it, make sure you're prepared to knock on a couple hundred doors, at a minimum.

Personally, I never buy anything from a door-knocker in my neighborhood, so be aware you will have some people like me. Good luck!

I mostly agree with @Dawn Anastasi about the rent being due. That being said, I would want to do some due diligence on this. Get the police report, see if there is anything that is known but not being disclosed to you. Hopefully not a problem, but I think it's worth a few minutes to find out.

@Account Closed  There is definitely something out there for you. Maybe you have to pay more points or a higher rate, but if you can secure the loan with the home, there are going to be opportunities. If the peer-to-peer is not an option, I would concentrate on hard money for now. I'd be very surprised if you couldn't find a lender who would work with you in some capacity if they are secured.