I am in the process of looking for my first home in Baltimore, with the intent to house hack either a single family with roommates, or a small multi (hard to find in Baltimore!)
A bit about myself- I am currently on my second deployment, this time with the Army Reserves, and plan to use my VA loan to finance the purchase. I've had my parents (with PoA) look through a few properties for me, and even submitted an offer on one, but was beat out by a cash offer.
I'm looking in the Fed Hill, Locust Point, Canton, and Fells Point areas. Luckily time is on my side as I do not return until July, however I was hoping to get advice / network with fellow investors.
Please share your thoughts! I'd love to connect.
Hey @Connor Corkrin ! Thank you for your service! I am an investor in AA county, and I
am looking for a multi family for myself as well. Even harder in the Annapolis area unfortunately! They do come up but not very often.
I'm also a licensed agent so I'll keep my eyes peeled for you, if you want to connect and send me more info on your must-haves for this property, that will definitely help! How many bedrooms are you thinking?
I have friends who moved to the suburbs 3 years ago when their Canton home became too small for their family and they are renting their row home VERY well. It's in great condition and attracted quality tenants from the get-go. On S. Ellwood towards Patterson Park.
I'm looking for a property in Lancaster PA at the moment for another opportunity, buy & hold, that's my thing for now.
Good luck and nice to meet you!
Thank you also for your service, I was in the Army from 1959-1962 - served in Germany - a great time to be a solder - no wars or conflicts - I went in when I was 16 years old.
So discharged in 1962 - no job, no skills - (I could march and shoot a M-1, drive a jeep and obey orders. I did have a few dollars to pay for some real estate seminars - at 20 years old - the real estate bug bit me good - I couldn't wait to start my journey toward wealth with properties ---- what a surprise - this investing was harder than I thought - it seemed like every seller and their agents were asking way too much for me to make a profit, they wanted proof of funds, credit ratings, money for a down payment and all that stuff.
So ---- I started going to public auctions - WOW - I found some bargains, they weren't pretty but they had equity after I fixed the roof, painted, cleaned them up - buying properties using credit cards, Hard Money and creative financing - I had to be creative since I had very little cash.
So fast forward to 2019 my wife and I have almost $12 MM in equity and a nice cash flow --- but it was not easy - now I develop commercial buildings, own a night club at 2022 N. Charles St and a bunch of apartments - and still going strong at it at 77 years old.
We here at BP are always willing to help you - call on any of us.
Wow Charles, that's an awesome story!
I'm jealous I didn't get in the game when I was younger, but unfortunately college debt was holding me back from anything investment-wise.
Fast forward to the tail-end of my second deployment and I'm finally debt free, saving up enough to have rehab funds to accompany my VA loan for the first property.
Where did you encounter the most friction when you started off? And what did you find was easier than you thought?