Real Estate Newbie in Maryland

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Real Estate Newbie in Maryland

Juan Rodriguez
Churchville, MD · Member since 2016 · 13 posts · 6 votes

Well, I have decided to take the plunge into learning real estate investments in order to gain financial freedom and generate monthly cash flow. I earn a decent living as a software engineer, but I still aspire to gain financial freedom and be in more control of my future and life. 

After researching many websites and you tube videos, I came across BiggerPockets website and am very pleased with all the information I have found on this site.

I purchased the book package that includes "The Book on Rental Property Investing" and "The Book on Managing Rental Properties" and am so excited to learn the details on this profession. I'm on 180 in "The Book on Rental Property Investing" and am starting to gain confidence that I can do this. 

From what I've learned so far, I think "House Hacking" with a standard FHA loan may be my best bet to get started. I feel that if I can live for free, that I can save my normal rent payments to look for further investments.

Does anyone know of any good real estate clubs in Maryland I could start attending to gain more knowledge? I've seen several on meetups, but still deciding which one is good to attend. Any that have more knowledge in "House Hacking"?

I look forward to learning and being part of this community.

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Account Closed
Professional Auctioneer · Baltimore, MD · Member since 2015 · 1k+ posts · 1k+ votes
10y

The MDREIA meets next Tuesday at 7pm. 6722 Harford Rd. 35 year old REIA, no membership charge.

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  • Michael Noto
    Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    10y

    Best of luck @Juan Rodriguez and welcome to BP. 

    I have had several clients up here in Connecticut get their start by house hacking. Best of luck finding that first deal. 

    0Reply
  • Juan Rodriguez
    OP
    Churchville, MD · Member since 2016 · 13 posts · 6 votes
    10y

    Thank you @ messaging @Michael Noto! 

    It is encouraging to know that others are entering this market by house hacking. I plan on learning as much as I can for now and analyzing at least one deal daily so I can learn the art of analyzing the deals (I'll probably do as many as I can until I get it). I hope to pull the trigger within 6 months or so!

    0Reply
  • Terry Beall
    Boonsboro, MD · Member since 2011 · 137 posts · 26 votes
    10y

    Welcome to the BP community!  Looking forward to your success in the future.

    0Reply
  • Stephanie Dobbs
    Real Estate Broker · Bowie, MD · Member since 2014 · 242 posts · 44 votes
    10y

    Welcome to BP!!! I am a licensed RE Agent and wholesaler, so I'd be glad to help in any way! Happy learning and investing!

    Stephanie Dobbs

    0Reply
  • Melissa Gittens
    Real Estate Broker · Windsor, CT · Member since 2015 · 1k+ posts · 268 votes
    10y

    Welcome to Biggerpockets!

    0Reply
  • Wendy McLean
    MD · Member since 2015 · 18 posts · 6 votes
    10y

    Hello everyone, I have to say it is so comforting to know that there are established investor out there who are willing to help newbies. We know several people who do property investing and you can hardly get a peep out of them. lol. Thank you all and thank you for the passion of the BiggerPockets team that makes this possible. I really love your site. My husband and I are learning all we can about investing to eventually (sooner than later) take the plunge. We live in the Maryland area. Shout out to all the DMVers dealing with this large snow event. Bundle up!

    0Reply
  • Christian Sifuentes
    Flipper/Rehabber · Fair Lawn NJ · Member since 2016 · 382 posts · 87 votes
    10y
    In Westminster MD, hoping to network and attend local REI in surrounding area. Also hope to take plunge in 2016! Appreciate the constant knowledge and information from members at BP!
    0Reply
  • Andre Martin
    Ft. Washington, MD · Member since 2011 · 28 posts · 3 votes
    10y

    There is a great meet up in gaithersburg. you can go to meetup.com to find it.

    0Reply
  • Account Closed
    Professional Auctioneer · Baltimore, MD · Member since 2015 · 1k+ posts · 1k+ votes
    10y

    Juan, I use to live in Bel Air, near Churchville about 39 years ago, I was amazed a few weeks ago to see how much that area has developed.  I started my investing career in Cecil and Harford County.

    As a new investor, you should find some good properties in Harford county. I live now in Glen Arm. Commercial development and auctioneering is what I have been doing. Do call if you need help.

    Your neighbor ---- Charlie 

    0Reply
  • Juan Rodriguez
    OP
    Churchville, MD · Member since 2016 · 13 posts · 6 votes
    10y

    I must say, this community is pretty awesome! Thank you all for the welcome.

    @Stephanie Dobbs I will definitely take you up on your offer at some point. Being a transplant from Tampa, I do not know the Baltimore/Maryland area very well. I will absolutely need an experienced RE Agent to guide me along the way. Once I get my funding in place, I will reach out for sure. 

    @Andre Martin Thanks for the meetup info. I found it and sent a join request. It looks like the next meeting is February 2nd. I will be there.

     @Account Closed I would love to find my first deal in Harford county. It is good to know that someone with experience feels there are deals to be had. I feel that it would have to be a BRRRR deal since it seems this area is highly desirable and pretty expensive. If I gain the confidence and knowledge to pursue this as my first deal, I will absolutely reach out.

    0Reply
  • Jerry Padilla
    Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    10y

    @Juan Rodriguez

    Welcome to the site! House hacking us a great way to get started! FHA is how a lot of investors get started. I am glad to give you more info on FHA financing.

    1Reply
  • Account Closed
    New to Real Estate · Charlotte, NC · Member since 2015 · 177 posts · 69 votes
    10y

    @Juan Rodriguez 

    Welcome to BiggerPockets! You have come to the right place for RE investing lot’s of great info and advice from the BP community.

    Here are some links that I have put together for you, hope it will help you on your path of REI.

    Much success to you!

    https://www.biggerpockets.com/renewsblog/2013/11/0... (Get Paid House hacking)

    https://www.biggerpockets.com/renewsblog/2014/03/13/investing-multifamily-ben-leybovich/ (Podcast 061 - How to succeed in multifamily investing-Ben Leybovich)

    https://www.biggerpockets.com/renewsblog/2013/04/09/how-to-buy-a-small-multifamily-property/ (How to buy a small multifamily property)

    https://www.biggerpockets.com/renewsblog/2015/11/16/how-to-choose-areas-multifamily-deals/ (How to choose multi-family deals)

    http://www.biggerpockets.com/renewsblog/2014/07/19/how-to-buy-a-duplex/(How to buy a duplex)

    https://www.biggerpockets.com/renewsblog/2013/12/12/bp-podcast-048-duplex-managing-tenants-darren-sager/ (Podcast 048 Duplex investing and managing tenants-Darren Sager)

    Much success to you!

    1Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    10y

    @Juan Rodriguez

    Welcome to Bigger Pockets. It is a good community to network and learn about all aspects of real-estate investing.

    0Reply
  • Juan Rodriguez
    OP
    Churchville, MD · Member since 2016 · 13 posts · 6 votes
    10y

    Thanks all for the nice welcoming to the site.

    @Account Closed Appreciate the articles. I will be going through each of them to get as much knowledge as I can!

    0Reply
  • Elizabeth Nourse
    Investor · Fairfax, VA · Member since 2015 · 239 posts · 90 votes
    10y

    Hi @Juan Rodriguez

    Welcome! Glad you're here.There are lots of ways to learn more and getting involved in the local real estate investor community in Maryland is something I'd also put on the beginner list. Bigger Pockets is great. Listen to their podcasts in the car and you'll learn a TON.

    Also, I'd be happy to point you in the right direction for things to think about and consider as you make a decision regarding your next steps.

    Please check out my profile and reach out if you think I might be able to help you. I have lots of clients in the same boat- just getting started and trying to make the best possible choices as they move forward. It's great that you're reaching out for how to get started. That's a VERY smart first step. :)

    Liz

    0Reply
  • Eric Schrader
    Engineer · Fawn Grove, PA · Member since 2015 · 93 posts · 10 votes
    10y
    Juan Welcome. I too looked around at some other sites before I stumbled onto BP. There is a lot of great info on the site. I have touched base with a few folks in the Harford County area. I am trying to get a group together to start meeting locally. I am a newbie myself, but am getting very close to executing my first deal. Good luck and I would love to chat.
    0Reply
  • Lenzy Ruffin
    Washington, DC · Member since 2015 · 139 posts · 102 votes
    10y

    Welcome to BP, @Juan Rodriguez.

    0Reply
  • Juan Rodriguez
    OP
    Churchville, MD · Member since 2016 · 13 posts · 6 votes
    10y

    @Eric Schrader I'm on board for a meetup in/near Harford County. I found several in Maryland/DC, but they are all 1 hour + away. I know that the knowledge/networking I would gain from any of these are invaluable and well worth it, but meeting up locally and even checking out properties and driving around with others in my immediate area would be awesome.

    @Elizabeth Nourse Thanks for the welcome. I joined PRO so I could look at all the web archives and use the calculators as much as I want to analyze properties. I've seen several of the archived webinars and analyzed about 5 properties (I know, that is a small drop) . I believe I may have to change my strategy for my first deal. I will absolutely check out your profile and ask some of the many newbie questions I have. 

    0Reply
  • Anil Samuel
    Investor · Baltimore, MD · Member since 2012 · 605 posts · 103 votes
    10y

    i Am from tampa as well!  You should check out the BWI meetup as well as the Baltimore reia!

    0Reply
  • Account Closed
    Professional Auctioneer · Baltimore, MD · Member since 2015 · 1k+ posts · 1k+ votes
    10y

    The MDREIA meets next Tuesday at 7pm. 6722 Harford Rd. 35 year old REIA, no membership charge.

    2Reply
  • Desi Arnaz
    Mortgage Note Investor & Multi-Family Property Investor · San Diego, CA · Member since 2010 · 177 posts · 51 votes
    10y

    Hi Juan,

    Welcome to Bigger Pockets. I discovered BP a while ago but didn't really get involved until recently. I'm sorry I waited so long to "plug in". BP is an awesome resource.

    I am a cash flow investor. I have been a landlord since 1982 and I have also flipped a fair numbers of homes over the years.

    A couple of years ago I discovered the "paper" side of the real estate investment world. I purchased my first Mortgage Note. I have been actively acquiring Notes for passive cash flow since that time.

    I like the the passive nature, the safety and the cash flow that I receive from Performing Mortgage Notes.

    I upgraded to BP Pro & upgraded my profile. Check it out.

    1Reply
  • Joseph England
    Investor · Baltimore, MD · Member since 2015 · 152 posts · 231 votes
    10y

    Welcome to BP Juan! I have been to a number of different REIA meetings in Maryland and it helped me learn where I wanted to start investing. I would recommend going to REIA meetings in different areas and discuss their investment areas and discover which REIA is worth your time attending.

    Joe

    1Reply
  • Account Closed
    Frederick, MD · Member since 2015 · 654 posts · 256 votes
    10y

    Welcome @Juan Rodriguez!  It's about an hour from you (but still closer than I am and I attend), but you might want to check our MAREIA.

    0Reply
  • Juan Rodriguez
    OP
    Churchville, MD · Member since 2016 · 13 posts · 6 votes
    10y

    Thanks everyone for the wealth of information!

    I've joined the Gaithersburg and BWI REI group on meetup. I'm planning to attend several.

    @Account Closed I could not find the MDREIA information online. Is there a link you can provide for this group?

    @Anil Samuel I truly wish I was still in Tampa to start this venture since I know that area so well. Baltimore not so much. But here is to learning and hustling!

    1Reply
  • Rahdia Green
    Wholesaler · Gaithersburg, MD · Member since 2014 · 45 posts · 11 votes
    10y

    Looking for a link/enrollment to MDREI as well! Thanks

    0Reply
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