New Investor in the Anne Arundel County, MD Area

New Investor in the Anne Arundel County, MD Area

Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote

Hello everyone! I joined BP about a month and a half ago and I've absolutely loved the site and the community here. I'm full time Navy but I know it's possible to be successful in Real Estate while working a full time job, so I'm going to go for it. My fiance's dad would like to start investing in RE so he is putting some pressure on me to do the homework to find a place to invest in. I've been reading books and learning as much as I can but I think I've reached the point where I need to take action. I have a basic idea of how this whole thing works, but I'm always open to advice and guidance from someone who knows what they are doing. I'm very driven and motivated, and I'm super excited to get started on Real Estate Investing!

Right now my goals are to continue to learn as much as I can on REI, but I need to take the next step and start analyzing properties and making offers on them. I want to buy at least one property within the next three months. I plan on analyzing 100 properties within the next week and making offers on those that have potential. I learn best by doing so hopefully I will have at least one person accept my offer so that I can get the ball rolling and go through the process from start to finish. In a year I want to own at least 5-10 rental properties and by 5 years I want to be in the 30-50 range. I'm mostly looking at Buy and Hold investing of single family or multifamily homes in the Anne Arundel County area. Ultimately I want to become financially independent so that I can live a comfortable life with myself and my family. I want to work hard now so that when I get married and have kids, I will have plenty of free time to be with them. I also want to retire early and hopefully never have to worry about money.

I'm looking to establish a network of friends, professionals and potential partners that can help me in my Real Estate Investing journey, and hopefully when I figure out what I'm doing, I can return the favor!

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Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
9y

@Kenneth Reiners

Welcome to the BP family! Here are some recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

Wishing you the best!

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  • Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    9y

    @Kenneth Reiners, welcome to BP.  As a fellow active duty military member it is great to see our network on BP growing each day.  Good luck with the education and journey.  I am willing to discuss more so reach out if you like!

  • Investor · Northern, VA · Member since 2016 · 1k+ posts · 904 votes
    9y

    @Kenneth Reiners - Love your enthusiasm and thanks for your service to our country. How do you plan on owning 5-10 properties by the end of the year. That seems like a lofty goal. How do you plan on financing them?  

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Kenneth Reiners

    Welcome to Bigger Pockets. A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y
    Originally posted by @Chinmay J.:

    @Kenneth Reiners - Love your enthusiasm and thanks for your service to our country. How do you plan on owning 5-10 properties by the end of the year. That seems like a lofty goal. How do you plan on financing them?  

     Thanks! I admit that perhaps it is a lofty goal but I think it can be done if I play my cards right.  My fiance's father is willing to finance some of our deals.

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y

    Thanks Mark and Kevin.  Listening to one of the webinars now actually.  Trying to utilize this site to its full potential, but it's kind of overwhelming!

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    9y

    @Kenneth Reiners welcome to BP and a fellow Meade guy. Go Army, beat Navy! What is your system for analyzing? what is your criteria? 

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y

    @Dan Krupa Haha those are fighting words! Although the Army did kick the Navy's *** this year. I've watched multiple Brandon Turner webinars and read quite a few of his books. I'm trying to follow the systems that he has shown me. I still need to develop a more rigid set of criteria, but I'm looking for multifamily properties in the area for $350k or less or single family homes selling for $250k or less. Everything is pretty expensive in this county so I'm trying to decide if I need to branch out and look at cheaper properties that are a bit farther away or what. Any suggestions? Once I feel comfortable making offers on a house, I plan on using the deal funnel that Brandon suggested and analyze a bunch of properties, make offers on maybe 10 of them, and hopefully get accepted on one of them. I'm mostly using the MLS at this point to find properties.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    9y

    @Kenneth Reiners

    Welcome to the BP family! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    Wishing you the best!

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    9y

    @Kenneth Reiners , I would search further out if I was you. Also, Redfin updates almost as fast as the MLS. Zillow has a great "recently sold" feature for running comps. It takes a lot of practice though and touring local houses to get good at it. Good luck to you!

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y

    @Kevin Hunter I think I saw from another one of your posts that you invested in this area?  I'm wondering where exactly you invested and what was your criteria?  As I'm sure you know, homes around this area are extremely expensive and hardly worth buying to rent out.

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y

    @Dan Krupa Thanks for the advice!  Do you know the RE market around the Anne Arundel County area pretty well? If you do, could you provide me with specifics on how far out you suggest I go or where to look?  That would be greatly appreciated! I use Redfin and Zillow as well.

  • Commercial Real Estate Broker · Little Falls, NJ · Member since 2016 · 8 posts · 0 votes
    9y

    Welcome aboard Kenneth Your service is appreciated. If you have any questions on the the financing end feel free to reach out.

  • Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    9y

    @Kenneth Reiners, I invest in Fairfax and Stafford counties in Northern Virginia so I am not extremely familiar with that area.  Reach out to @Russell Brazil, he is the Maryland and northern Virginia duty expert and will likely be able to help you narrow your search areas.....

  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    9y

    @Kenneth Reiners Welcome to BP.  I would second @Kevin Hunter. @Russell Brazil is your guy.

  • Real Estate Broker · Phoenix, AZ · Member since 2013 · 749 posts · 399 votes
    9y

    @Kenneth Reiners I don't. I invest in Kansas City, MO - North of the river. I stick to two zip codes - that is it. It is my farm area.  Sorry, wish I could help.  

  • Real estate investor · Pasadena, MD · Member since 2016 · 165 posts · 258 votes
    9y

    Kenneth, reach out to me. I have lived in AA County most of my life and own rentals in AA county Baltimore City, and Baltimore County. I can probably answer any questions you have and tell you about the different areas of all three counties

  • Investor · Baltimore, MD · Member since 2012 · 605 posts · 103 votes
    9y

    @Kenneth Reiners  I live in Anne Arundel county.  We should meet up sometime, I have seen some investments here and there.

  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    9y

    Welcome to BP @Kenneth Reiners You are in a great area for investing. AA county is solid, Baltimore is a bargain for rentals and one of the best rent to price ratios in the country. PG county is pro growth. You will find a lot of members here on BP from the region.

    You should check out the Anne Arundle Real Estate  Investor Meetup. You are likely to see Me, Anil, Dave and @Russell Brazil there.

  • Fort George G Meade, MD · Member since 2017 · 7 posts · 1 vote
    9y

    @ned carey 

    @Ned Carey Hey Ned, thanks for the response and the advice!  I am definitely interested in attending the Anne Arundel Real Estate Investor Meetup.  I look forward to seeing you guys there.

    @Anil Samuel Hey Anil, thanks for the response.  I'll PM you.

    @David Wandel Hey David, would you recommend investing in Baltimore?  What would you say the benefits are of investing in Baltimore over other areas?

  • Real estate investor · Pasadena, MD · Member since 2016 · 165 posts · 258 votes
    9y

    I have properties in the City and the surrounding counties. There are A, B, C, & D neighborhoods everywhere. I think where to invest is where you feel comfortable at. Baltimore City taxes tend to be higher than the surrounding counties. To me, it is all about the figures and what your goals are.

    We currently are buying a lot of properties (10 in 6 weeks) in Brooklyn and Curtis Bay. I know a lot of investors that are not comfortable in these neighborhoods but I am comfortable here mostly because I spend a lot of time in these areas when I was younger and it is fairly close to my house.

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