Newbie from Prince George's County, Maryland

New Member Introductions
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Newbie from Prince George's County, Maryland

David Edge
Bowie, MD · Member since 2018 · 3 posts · 2 votes

Hello Investors,

My name is David Edge from PG county, Maryland. I am 31 years old and have no experience in Investing. My goal right now is to learn as much as I can so I can build a decent portfolio. I have wanted to get into REI for years now, but I am finally deciding to actually do something. Finding BP has been the best thing I could ask for to get me started. I always had this misconception that I needed thousands of dollars to learn the ropes and thousands more to start investing.

I am mainly interested in wholesaling and renting both single and multifamily properties. Like I said, I don't know much at the moment but I look forward to learning. I am currently enjoying the The Ultimate Beginners Guide, The Book on Investing with No or Low Money Down, and number of youtube channels. I am open to any suggestions on books and/or Investors I should be looking into to help me on this journey.

I look forward to networking with you all!

- David

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  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    8y

    Hello @David Edge, welcome to the site! Feel free to jump in the community here and also take advantage of the treasure of knowledge here.

    BiggerPockets
    0Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    8y

    Welcome to BiggerPockets and best of luck investing David!

    Podcast Guest on Show #121
    0Reply
  • David Edge
    OP
    Bowie, MD · Member since 2018 · 3 posts · 2 votes
    8y

    Thanks Guys!

    0Reply
  • Laticia Braxton
    Real Estate Consultant · Joppa, MD · Member since 2015 · 218 posts · 178 votes
    8y

    Good morning David and welcome!  I am not involved in wholesaling at all but anything landlord/property management is my life.  I would suggest before purchasing any rental property, you focus on reading up on Maryland Landlord/Tenant Laws, possibly attend a few rent court cases in the city/county that you are considering purchasing a property in and perhaps even find a mentor/coach that has a lot of experience in that area.  Attend some local real estate investor meetups and network with other investors.  A lot of investors jump into becoming a landlord only to find out that it is not as simple as they thought it would be.  Sometimes they make costly mistakes and even though mistakes will happen, it's best to go into your venture as well-equipped with knowledge as possible.   Best of luck to you!

    0Reply
  • Royce Hodnett
    Hyattsville, MD · Member since 2018 · 23 posts · 4 votes
    8y

    Hey David! It's a pleasure to meet you! I'm new to BP as well and in the PG area. I look forward to going on this real estate journey with you. 

    Best of luck!

    Royce

    0Reply
  • David Edge
    OP
    Bowie, MD · Member since 2018 · 3 posts · 2 votes
    8y

    @Laticia Braxton Thank you for the great advice! Yes, right now I am in complete research mode.

    @Royce Hodnett Likewise! Good luck to you as well

    2Reply
  • Amanda Mercer
    Investor · Hyattsville, MD · Member since 2016 · 2 posts · 0 votes
    8y

    Welcome! You're definitely going to want to join the PG and Anne Arundel investment clubs.  You'll make great contacts there.  Message me if you want more info.

    0Reply
  • Matt Motil
    Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
    8y

    Welcome to BP @David Edge! 

    0Reply
  • Malcolm Lawson
    Annapolis, MD · Member since 2015 · 132 posts · 52 votes
    8y

    Welcome, David! I have never wholesaled my self, but my perception is it's pretty challenging.  One of the easiest ways to get into rentals is to add a rental unit to your primary residence or to purchase a home as a primary residence and then move out and turn it into a rental keeping your low-interest rate. This method may require you to move into another rental yourself as many lenders need you to have a tenant renting your home for at least a year before they will count that income to offset your mortgage payment so you can qualify for a new mortgage.  This is just one strategy to use.  Do you currently own a primary residence? 

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