Newbie near Baltimore, MD & D.C.

17 Replies

Hello! I'm Samantha. I've been reading up on the blog & listening to the BP podcasts for a little bit now. My husband and I are in the beginning of starting our real estate investing journey with multi-family properties.

Ideally, we'd love to do a small, multi-family house hack starting next year. However, we know that those types of properties in the area aren't always easy to come by so we're researching other options and ideas. 

Originally, we're from Indiana and have a lot of family near Indianapolis. We'd hope to extend to that market in the future.

Thanks for letting me say 'hi'!

Hello @Samantha Hyatt & welcome to the BP forums!

The blog & podcasts have a ton of useful information. I'd also check out BP's bookstore as well as other books suggested by BP members (i.e. Millionaire Real estate investor, rich dad poor dad, etc).

House-hacking is a solid strategy for newbies. I'm sure you can connect with local investors and entertain other strategy ideas.

As for your out-of-state investment ambitions, it is a HUGE plus that you're considering an area you lived in & have family in. That could prove to be a great option down the road.

Best of luck to you & I'll see you around the forums!

Abel

@Samantha Hyatt welcome!  Great to hear you will be taking the plunge and think you  and your husband have the right idea with house hacking!  I think it gives you alot of flexibility to do different things with the property down the road.  I think buying a small multi using a fha you can get into something in Baltimore for min. down and get experience with self managing the property.  Seems like you are no to far from Baltimore so i would suggest spending some time researching and visiting the areas you want to live/invest in.  Lots of investment groups in the DMV make sure you start checking some out and talking to other investors.  Also Maryland has one the highest foreclosure rates in the nation and have some programs where they give preference to homeowners over investors so you could find a great deal 

Welcome to BP! You're correct that smaller Duplexes/Multi-Families aren't as prevalent in the Baltimore market as they are in other areas, but we do have plenty of smaller homes that make for great rentals (especially if you're going to House Hack/BRRRR). Good luck!

Samantha - Welcome!  You are so smart!  My boyfriend and I did the same thing a year ago and though it may take some time watching the market, house hacking is totally possible!  We looked at maybe 20 properties, from fixer uppers to move-in ready and finally found one that fit our needs.  We ended up buying in the Baltimore area and it was the best decision.  If you ever want to pick my brain, reach out.  I'm happy to help. :)

@Samantha Hyatt Hello Samantha! Welcome to Real estate investing! I look forward to seeing you chase your dreams and become financially free! I actually live in Severn area, I see your in Odenton. If there’s anything I can do to help you along the way don’t be shy in reaching out, I am a Real estate agent here in Maryland and I also own multi-family units, gearing up to house hack with my wife this year as well. It’s always good when your significant other and you are on the same page. Best of luck!

@Samantha Hyatt welcome to BP. You will find a lot of BP members here from the greater Baltimore DC area. There are also lots of investment clubs in the area. Just Google Meetup or REIA and you should find some. One that is close to you is the Anne Arundle REI meetup. Run by @Gabriel G. and @Matt Schelberg . I think they have a meeting coming up next week.  I don't get there mush but it is one of my favorites. 

@Samantha Hyatt - Welcome!

You might be surprised just how many small scale (4-12 unit) apartments are within reach and driving distance of you, right now.  If you have not done so already, get on the mailing list for Ben Frederick, http://benfrederick.com/ .  Ben is 3rd generation real estate broker in Baltimore who specializes in these small deals.  There is also plenty of money right now for these deals.  I’ve done a couple of apartments in Baltimore, a 12- unit and a 22 unit, and I’m working on a hotel deal in the city.  

It’s a great time to be a commercial real estate investor in the region.  -Sherman

Hello! @Samantha Hyatt

Welcome to BP, and congratulations on making the decision to invest in your future via real estate.

I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.

First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:

https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp

The second is a post that will help get you focused with your real estate investing goals:

https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciated

The last one is a post that will help you choose an “investor friendly” real estate agent.

There are many agents out there, but it’s important to choose the right one.

https://www.biggerpockets.com/blogs/5868/52724-im-new-to-investing-how-do-i-find-an-investor-friendly-agent

I love answering questions if you have any! Good Luck :)

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