Updated over 11 years ago on . Most recent reply
I am looking for a mentor
I have a contract on my 1st rental property in Baltimore, MD which is 3/3, 82k with 18k in rehab, FHA 3.5% 203k loan (owner occupant). Agent says it should appraise for 130k and rental income in the area is 1400-1500. I am considering MBQ as my agent has 4 rental properties of his own. I am a quick study, and looking for someone to mentor me. I have already read the book, "Millionaire Real Estate Investor", spoken to a few investors and spent a hundred hours or so researching (I just found out about real estate investment as a lucrative option a couple weeks ago). I plan on purchasing 3 houses similar to the one listed above each year to start and use equity to speed up the process. I may be trying to throw some flips in as well. Basically I plan to build a portfolio fairly quickly with an end goal of living off the residual income. I am really easy to get along with and motivated. If anyone with significant experience is willing to mentor, that would be great!
Most Popular Reply
- welcome to BP! There are a lot of DC/MD/VA members here with a pretty healthy B'more contingent represented. I would suggest attending some local REIA meetings and/or Meetups. You can Google any of the following -
Baltimore REIA (Towson/Timonium)
MAREIA (Owings Mills)
Baltimore/Washington Meetup (Columbia)
The Real Deal Meetup (Arbutus)
You have really jumped in with both feet which is admirable. I've been on this site about 11 months and sometimes I feel like I'm spinning my wheels but I know my time will come. There are a lot of willing people who are successful in this area who will freely share information - get out there, meet them and build some respectful relationships (successful almost always means BUSY), this website is a great resource to research those questions before you go to a live source (I'm sure you've figured that out already).