New Investor residing in Maryland

New Investor residing in Maryland

Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes

Hi Folks!

My name is Paul. I am a new investor to real estate, residing in Southern Maryland. I've been investing in the stock market for 30+ years, but am at the point where I'm ready to diversify more into real estate.

I've been lurking on the forums here for quite some time and I am amazed at the value of the posts and level of knowledge that exists here. Over the past year or so I've read books, blogs, and watched more YouTube videos than I can remember. Does anyone remember Carlton Sheets? Yep - bought those tapes back in the 90s and listened to them all!

So now I feel I'm ready to jump into this. I am in the process of creating a new LLC for this endeavor and hopefully will have that wrapped up soon. My goal will be to create more passive income - I don't want to manage properties.

My thinking is to first try and do a SFH BRRR locally (in state) for cash flow and learn the ropes some. I've also considered Turnkey and Syndications because of how passive they are. Right now it doesn't seem any Turnkeys I've been presented cash flow to the level I am comfortable with. Syndications are interesting but the risks for someone new like myself and the amount of time my capital would be locked up isn't right for me at this point. Yes - I'm all over the place but gaining clarity. :-)

Anyway, glad to be here, happy to meet and network with like minded folks while I keep learning as much as I can!

-Paul

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  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    1y

    Hello @Paul H.!

    Welcome out of the shadows! Lol.  Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights. Great tools that get updated regularly.  Tons of support here so ask away.

    I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

    We are all here to help you learn and grow. Feel free to ask anything, anytime.

    Cheers!

    Belsky Mortgage, LLC527 Reviews
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    1y

    Welcome aboard Paul!

  • Member since 2024 · 1k+ posts · 351 votes
    1y

    Paul Welcome to Bigger Pockets !

  • Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes
    1y
    Quote from @Nick Belsky:

    Hello @Paul H.!

    Welcome out of the shadows! Lol.  Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights. Great tools that get updated regularly.  Tons of support here so ask away.

    I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

    We are all here to help you learn and grow. Feel free to ask anything, anytime.

    Cheers!

     @Nick Belsky Thanks very much for the offer for help!  I'm sure I'll need plenty of it along the way.

    -Paul

  • Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes
    1y
    Quote from @Andrew Syrios:

    Welcome aboard Paul!

     Thank you for the welcome @Andrew Syrios!

    -Paul

  • Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes
    1y
    Quote from @John Mason:

    Paul Welcome to Bigger Pockets !

     Thank you @John Mason!

    -Paul

  • Real Estate Agent · Milwaukee · Member since 2024 · 3 posts · 0 votes
    1y

    Welcome, Paul! 

  • Lender · Austin, TX · Member since 2023 · 233 posts · 96 votes
    1y

    Hey Paul! It sounds like you're taking a thoughtful approach to real estate, and the BRRRR method could be a great fit for you as it aligns with your goal of generating passive income. With BRRRR, you can build equity by purchasing, rehabbing, and renting out a property, then refinance to pull out the cash and reinvest into more deals! At Easy Street Capital, we provide a one-stop shop for investors like yourself who want to fix up a property and then refinance using a DSCR loan. This structure lets you leverage rental income to qualify, without needing traditional income verification, making it an excellent option for building/scaling your portfolio. Feel free to reach out if you want to explore your options or if you have any questions!

  • Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes
    1y

    Thank you @Jesse Steggall.

  • Investor · Southern Maryland · Member since 2024 · 13 posts · 7 votes
    1y
    Quote from @Savannah Holzer:

    Hey Paul! It sounds like you're taking a thoughtful approach to real estate, and the BRRRR method could be a great fit for you as it aligns with your goal of generating passive income. With BRRRR, you can build equity by purchasing, rehabbing, and renting out a property, then refinance to pull out the cash and reinvest into more deals! At Easy Street Capital, we provide a one-stop shop for investors like yourself who want to fix up a property and then refinance using a DSCR loan. This structure lets you leverage rental income to qualify, without needing traditional income verification, making it an excellent option for building/scaling your portfolio. Feel free to reach out if you want to explore your options or if you have any questions!

     Thanks @Savannah Holzer.  I will certainly keep that in mind.  Appreciate it!

    -Paul

  • Memphis, TN · Member since 2024 · 234 posts · 100 votes
    1y

    Hi Paul!

    Investing in Memphis, TN could be a great move for you, especially if you're looking for positive cash flow. Memphis has a pretty affordable housing market and tends to offer solid rental yields, which might align well with your goals. The property prices are lower compared to other markets, and the rental demand in certain neighborhoods can be pretty strong.

    Let me know if you need any more info or if you'd want to chat further about this!

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