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

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

Nick Holmes
New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes

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

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
2y
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


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

[email protected]301-893-4635Podcast Guest on Show #192
District Invest Group546 Reviews
WebsiteView Page
4Reply
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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    2y
    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


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

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group546 Reviews
    WebsiteView Page
    4Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    Quote from @Russell Brazil:
    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


     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?
    0Reply
  • Jordan RayBusiness Member
    Real Estate Agent · Memphis, TN · Member since 2023 · 623 posts · 321 votes
    2y
    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


    Hey Nick! I am a 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!

    [email protected]662-642-1458
    Jordan Ray - eXp Realty5110 Reviews
    WebsiteView Page
    0Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    2y
    Quote from @Nick Holmes:
    Quote from @Russell Brazil:
    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


     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.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group546 Reviews
    WebsiteView Page
    2Reply
  • Dina Nicasio
    Virtual Assistant · Philippines · Member since 2024 · 10 posts · 4 votes
    2y

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

    1Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 887 votes
    2y

    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.

    0Reply
  • Jack Seiden
    Real Estate Agent · Washington DC · Member since 2016 · 847 posts · 654 votes
    2y
    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.
    0Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    Quote from @Jordan Ray:
    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


    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?
    1Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    Quote from @Russell Brazil:
    Quote from @Nick Holmes:
    Quote from @Russell Brazil:
    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


     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. 

    0Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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!
    0Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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. 

    1Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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!
    0Reply
  • Jordan RayBusiness Member
    Real Estate Agent · Memphis, TN · Member since 2023 · 623 posts · 321 votes
    2y
    Quote from @Nick Holmes:
    Quote from @Jordan Ray:
    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


    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?

    Yes absolutely! All over Memphis!

    [email protected]662-642-1458
    Jordan Ray - eXp Realty5110 Reviews
    WebsiteView Page
    0Reply
  • Hamp Lee IIIPro Member
    Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
    2y

    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.

    1Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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?

    0Reply
  • Hamp Lee IIIPro Member
    Real Estate Agent · San Antonio, TX · Member since 2019 · 1k+ posts · 832 votes
    2y
    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.😉
    1Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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!

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @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!

    [email protected]832-776-9582Podcast Guest on Show #469
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  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y
    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.

    0Reply
  • Blake Clothier
    Real Estate Agent · Germantown TN · Member since 2021 · 21 posts · 5 votes
    2y

    Hi @Nick Holmes,

    Welcome to the BiggerPockets Community!

    As others have mentioned, your connection to Memphis will be a tremendous asset in your investment journey. My family owns REI Nation and Premier Property Management, with our headquarters right here in Germantown, TN. Memphis is our home, and we proudly operate throughout much of the city, as well as in 11 other markets across the Southeast.

    I’m glad to connect and am here to assist in any way I can as you move forward!

    1Reply
  • Nick Holmes
    OP
    New to Real Estate · Baltimore · Member since 2024 · 11 posts · 5 votes
    2y

    @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!

    1Reply
  • Chris ClothierBusiness Member
    Rental Property Investor · memphis, TN · Member since 2009 · 2k+ posts · 3k+ votes
    2y
    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


     Awesome intro Nick!  Spent 6 great years at Memphis State University renamed University of Memphis while I was there.  Earned like 163 hours but never enough to graduate in a major.  Had probably 20 minors though!  The one thing I did was develop some life long friendships and deep love for Memphis.  I met my wife there too which is probably an important fact too.

    As for getting started, you have your act together which is a major starting point.  Don't be in hurry.  When you are ready, the market will be ready for you.  Passive income is a long game with rentals and there will be many ups and downs.  If I had a piece of advice other than being patient and not caught in fomo, it would be to really try to get to know whomever you do business with wherever you invest.  As a passive investor, you are really investing in the relationships you build with the people you are trusting with your investment properties.  More than anything else, those relationships will go a long way in helping you reach your goals and hit your expectations!  

    Best of luck to you when you jump in -  Chris

    Podcast Guest on Show #224
    REI Nation4.576 Reviews
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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y
    Quote from @Nick Holmes:
    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.


     My pleasure!

    Keep learning and growing...

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    1Reply
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