Newbie in Baltimore area

7 Replies | Baltimore, Maryland

Hello everyone, I would like to introduce myself to all investors, wholesalers, buyers, and more, in the Baltimore area (Towson specifically) or just all around. My name is Noel Butler, I am a 19 year old sophomore at Towson university. I come across investing, wholesaling to be exact, about 2 months ago, when I was doing some research and found Jay Morrison and Isaac Grace. By doing an extensive amount of research I have learned a lot of the basics, but I still have a . lot to learn. I am opening this discussion to have anyone feel free to comment, give advice, meet up to discuss business strategies,  etc. Anything will help. In advance, I thank you all and am looking forward to diving into the real estate business.

Hi Noel, my best advice is to read a lot, be very involved with BiggerPockets and ask lots of questions, make lots of relationships on here and locally. Relationships are everything in this business. And take on an experienced partner or mentor to get you out into the real world working on real deals (that's how you'll learn the most). It will make you more productive and accountable, and it will help you to learn from all of their past mistakes. Plus you can learn about so many financing and investing strategies from them.

Hi Noel! Welcome to the biz in Bmore! As a veteran investor of 20 years, here’s are my humble thoughts.

1) Get involved with local investor groups, go to a few meetings, meet people. You will find many people willing to share and advise. Just do your due diligence and make sure you connect with ones that are vetted and real. You will learn so much having your feet on the ground in your local market. You just have to be careful who you connect with.

2) Find an experienced investor that you can intern with or is willing to help or coach you, you’ll be surprised. If you find the right person, it would even be wise to pay them. The right coach will teach you how to make money in this business and greatly expedite the learning curve, which is priceless.

3) Continue time learning and connecting here on Bigger Pockets, there are many great resources.


You are welcome to attend the GRID Baltimore meetup that I am a co-organizer for. We meet the 4th Wednesday or each month.

https://www.meetup.com/grid-baltimore/




Originally posted by @Michael Krupp :

You just have to be careful who you connect with.

Second this! There are lot of great people in the Baltimore REI community, and a few who are unscrupulous. The sharks are pretty easy to spot, just don't buy into any pressure tactics "buy now, this deal won't last!" or invest any money without getting a second and third opinion.

Unsolicited shoutout - Michael is definitely one of the good ones! If you're looking for a local HML then make him your first call.

 

Grateful to meet some local people. We are a military family currently stationed at Fort Meade. We bought our first two properties this year and are learning more about Baltimore for hopefully a third property early to mid next year. Some great advice.

One more comment, I read a great post by Brandon Turner, yesterday.  He basically affirmed my philosophy which is to specialize.  What I mean is that you can get so overwhelmed and confused by the many options within real estate investing, that you can overthink it and get stuck with analysis paralysis, and do nothing. The other option is to become a jack of all trades and master of none. I believe in mastery.

Do your due diligence, network, and find the one main area that most interests you, wholesaling, rentals, or flipping, there will be specialties within each of those, and just start with that and work to become an expert in that area.  Once you get there, you can always diversify.  Remember, this is building wealth over time, not getting rich quick, at least in my eyes.

Where you start almost does not matter, as long as you have done your due diligence, and have others around you more experienced to support and coach you.  You just need to start, knowing that you can always change things up down the road.

@Noel Anthony Butler

Welcome to the BP family! Good to have you here! Here are some recommendations for you:

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