New Investor in Baltimore

10 Replies

Hey BP,

Me and my wife have been researching real estate investing and rental properties/landlordship for a little over year, and we're looking to pull the trigger!

We have some savings set aside that we're looking to get working for us. Ideally we're looking to connect with persons with experience flipping houses and working with first timers, so that you can teach us what's what, while helping to grow our nest egg.

The goal is to grow our money on the return from successful flips, saving it to purchase our first  rental property.

If you're willing to help, have some advice, or know of someone taking on smaller investors please reply.

Thanks,

Kevin

@Kevin Cranford, welcome to Bigger Pockets. I suggest that you read the Beginners Guide to Real Estate Investing, other articles and watch the podcasts here on the site for free education. 

Good luck on your real estate journey.

Hey Kevin, In Maryland newbie myself. Welcome to the BP family! Just discovered the networking search. there are a lot of meetup in our area. Hopefully, we can connect at one of them sometimes. 

Best of luck, 


Ed Stelle

@Kevin Cranford

Hey Kevin! Glad you're starting out. It might be helpful to consider the difference between trying to flip houses for your capital versus using your savings for a down payment and financing your first rental property.

There are benefits to both. Flipping in Maryland can be tricky with the tight numbers but it is doable. On the other hand, financing a rental with good cash flowing numbers will get you started much quicker with rentals and with a little less risk.

You could do everything right with a flip and have the market turn and be in the negative.

Feel free to private message me with any questions about Maryland real estate!

Welcome to BP and to the Baltimore REI Community! There is not shortage of distressed real estate in and around Baltimore, and a lot of it is in neighborhoods with an active retail market. Check Out Northeast Baltimore (Parkville/Lauraville/Hamilton), Glen Burnie/Pasadena, and Windsor Mill/Gwynn Oak to start. Shoot me a DM if you'd like some more guidance!

@Kevin Cranford

Welcome to BP!  I'm a new investor myself, looking to pull the trigger in 2019.  Check out the Facebook group 'Baltimore Investors Network'.  Lots of great activity there. 

Stephen

@Kevin Cranford

Welcome to Bigger Pockets!

This is a great place to learn and network. A lot of forum members are very knowledgeable in their respective fields related to real estate investing, whether that is real estate sales, wholesaling, flipping, rentals, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

The site has quite a few tools that can be helpful for new members. I like the search features: https://www.biggerpockets.com/search

Alerts can be really helpful too: http://www.biggerpockets.com/alerts

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

@Kevin Cranford welcome to BP. There are a ton of BP members here from the baltimore area. Baltimore also has a lot of Meetups. You'll often find  BP members there too. 

@Kevin Cranford

Welcome to the BP family! Good to have you here!

Here are some recommendations for you:

Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users

Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing

Check out BP Podcasts: https://www.biggerpockets.com/podcast

If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

Wishing you the best!

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