Newbie from Maryland

11 Replies

Hello! My name is Sean and have been a member for a couple months and just go around to adding  a picture so I thought now would be a good time for my first post.

My wife and I live in Hagerstown, MD and we have 3 boys and 1 more to be born in mid-late August.  The boys occupy most of our time so please don't be offended if I do not respond quickly.  

We are in the initial learning phase of real estate so we probably will not do our first deal for a while, unless you count our current home our first deal.  (We own a 1000 sqft, 2 bedroom condo)

@Sean Wenzel

Welcome to BP! You're in a great place to expedite your learning phase. I would definitely recommend listening to the BP Podcasts. Otherwise, some book recommendations:

- "E-Myth Revisited" by Michael Gerber

- "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter (this provides a more foundational perspective on money)

- "Cashflow Quadrant" by Robert Kiyosaki (further builds on the "Rich Dad, Poor Dad" foundation)

- "Set for Life" by Scott Trench

- "Long-Distance Real Estate Investing" by David Greene (I'm currently about half way through)

- "The Book on Managing Rental Properties' by Brandon Turner and Heather Turner

- "The Miracle Morning" by Hal Elrod

Thanks Josiah, 

I had actually just created a read/not read yet list of REI books this morning. Thanks for helping to add to my 'not yet' column! The only ones I've read so far are The Book on Rental Property Investing and The Book on Investing in Real Estate with No (or Low) Money Down. The Book on Managing Rental Properties is my next in line.

Hey @Sean Wenzel !

Welcome to BP! I joined a while back and BP has been a great place to learn about real estate investing. The books mentioned to you are great, and I would recommend as well.

I’m close to the Cumberland MD area, so if you ever have any questions about anything in my local area, just let me know. I might not know the answer, but I’ll help you find someone who does. Cheers!

Hey @Sean Wenzel 4 kids? 1,000sqft?? Impressive! To add some more resources to your list, here is what I recommend:

If you haven’t already listened to the podcasts I’d start there.

Podcasts

Episode 108 - Grant Cardone... Just listen…

Episode 283 Paul Thompson - Quite a new episode but I would think everyone would agree this is a top episode. Mainly, the systems implemented are fascinating (VA, automated offers, etc.) Plus...escape velocity...

Episode 113Jay Papasan - Very practical slow and steady advice

Episode 221 - Tim Shiner - his concept of equity build up and "shearing the sheep" shows some of the flexibility of real estate vs a 401k

Last but not least, I also recommend all the tax advice given by my fellow CPAs on the BP Podcast.

Amanda Han

Brandon Hall

Tax Reform Update – Brandon Hall and Amanda Han

Linda Weygant

Guides

Ultimate Beginners Guide

Forum Stickies

BP Calculators or spreadsheets uploaded by members

My Favorite Books

I have to say all of the BP books…right? :)

The Millionaire Next Door

The Millionaire Real Estate Investor

What Every Investor Needs to Know About Cash Flow

Hope this information can give you a good start. Feel free to reach out with any questions. 

Hey @Sean Wenzel welcome to the BP family! I second @Account Closed 's comment, 5 (soon to be 6) people in 1000+ SF is impressive! What king of real estate investing are you and your wife looking to get into? As Brandon and Josh always say on the podcast, a great first step is to start putting together your investing / business plan. Having a road map will get you moving in the right direction and keep you from running in circles. Best of luck to you guys!

Hi Sean,

I live about 30 minutes south of you in Bunker Hill, WV. I know your struggles with the kids eating into your time, I have two sets of twins. Not sure the age of your kids, but if you ever want to meet at a park or something and talk real estate let me know, kids can play while we talk.

Welcome to the forums!
Patrick

Thank you everyone. (I'm still figuring out how to do the @ thing)

@Patrick Watson (just figured it out)

My kids are 6, 4, and 2.  Due date for 4th son is Aug 22.  Meeting up would be fun but unfortunately will have to wait until late fall.  I will definitely come back to this though. 

@Account Closed

They are each such a great blessing!

Welcome to BP! You will find this community can literally feel like a fire hose to the face!  I feel like I'm finally making a little sense of everything and have become a huge advocate of the tools such as the calculators. 

Feel free to reach out!

-Solomon

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