My name is Aldo i live in baltimore maryland and i am new to real estate investing, but eager to learn and begin my journey to finacial freedom. I have began by listening to the BP podcasts on a daily basis, and have read many books on the subject including the BP staple "Rich dad, poor dad."
My research has led me to the decision to begin by investing in multi family real estate. i intend to apply the brrrr approach to investing. I have enough saved for a 20% downpayment on a 100000 multifamily property.
i dont feel quite ready to go at it alone, but if i research till im ready ill neva start. so im looking for an ambitious partner/mentor with previous investing experience (hopefully we could form a LLC). im also looking to assemble my team of real estate lawyers, contractors, agents etc. any way i intend to continue doing my research and looking through atleast 100 properties in baltimore maryland to find my deal. id appeciate any advice, encourgement or networking opportunities. thank you
good luck, best way to find mentors and partners is to get active, go to meet up, get on wholesale lists, analyze deals, and if you find a good one, go find someone to work it with you!
Thank you for the advice Michael Tucker. I definitely intend to implement all those strategies to expand my network. Im currently searching for deals and as soon as i find one will be looking for someone to work on it with me.
Welcome to BP @Aldo M Jawichre . You can think of BP as one big virtual mentor. There are several good REIAs and Meetups in the Baltimore area. You will find lots of helpful people.
Multi family may not be the best way to go. I find better returns in Row houses in Baltimore.
Hey Ned Carey,
Thank you for the advice, i tend to mostly hear about multi family and single family home deals on BP, its good to learn from the perspective of someone actively investing in Baltimore. I will make sure i attend as many REIAs and Meetups as possible to increase my network, thanks again.
I am a long time investor and hard money lender in Baltimore. I also mentor and coach new investors. I am new to BP but it seems to be a great community full of valuable information from people willing to share and help. Real estate investor groups have value as well and you can network to meet others in person and gain further insights. You may also find yourself some good realtors, lenders, contractors, etc. that offer advice. I would agree with Ned that multi-family may not be the best place to start. My philosophy is building wealth over time, not getting rich quick. While there are no guarantees, you can minimize your risks. In my experience, row houses are probably the best place to start and learn at a low cost with minimal risk. The key is learning by doing, so you have to get out there and do it. Don't get stuck on any one book or video as a guide. There are many schools of thought. Find some people that have the knowledge and experience you seek, and you will likely find a guide. There is opportunity out here my friend!
Hey Michael Krupp,
I am quickly realizing that every market is very different and i cant apply the same strategies to every situation, i am trying my best to diversify the material i read and the research i do, but advice i get from people like you who live in the area is invaluable. I'll start looking into row houses in baltimore, and while ill make my research thorough ill ensure that research doesn't become my excuse not to start. I agree with you completely, real estate is not the best avenue to get rich quick, and i have every intention of minimizing risk and forestalling instant gratification to build a healthy portfolio. i plan on going to as many Real estate investor groups as possible and making great connections. thank you for the encouragement and advice, i appreciate your time.
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