If you could go back in time... [Greater Baltimore Investors]

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If you could go back in time... [Greater Baltimore Investors]

Sam Lewis
Real Estate Agent · Baltimore, MD · Member since 2018 · 285 posts · 228 votes

I'm hoping this post will be helpful for local investors on BP:

If you could go back in time, what do you wish you could tell yourself (or do differently) before investing in real estate?

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Patrick McGrath
Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
6y

@Sam Lewis

Buy as many properties next Canton by the Target and Iron Roaster for $50-$75k each. Wait 10 years and sell them for $500-$700k each! Lol

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  • Michael Kissi
    Baltimore, MD · Member since 2019 · 47 posts · 22 votes
    6y

    "Why did you wait so long to start?"

    3Reply
  • Sam Lewis
    OP
    Real Estate Agent · Baltimore, MD · Member since 2018 · 285 posts · 228 votes
    6y

    @Michael Kissi I think about this all the time. My mindset was so different in college - had never even thought of RE investing or financial freedom

    0Reply
  • Stephen Kehoe
    Property Manager · MD · Member since 2015 · 186 posts · 125 votes
    6y

    1. House hack ASAP

    2. Utilize low down payment and low rates of owner occupied mortgages as much as possible.

    3. Look for ways to add rooms  or square footage on cash purchases that are valuable enough to be refinanced after rehab.

    4. Seek to serve others in the business to build your network.

    2Reply
  • Ozzy SirimsiBusiness Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
    6y

    Start networking earlier

    Start searching of market properties myself

    1Reply
  • Stephen Predmore
    Rental Property Investor · Baltimore, MD · Member since 2018 · 107 posts · 129 votes
    6y

    @Sam Lewis

    Start earlier, save more, stop buying stupid shiny things, buy assets not liabilities, live below your means.

    I have a college-age son who I'm trying to steer in the right direction with house hacking and saving for a down payment.

    2Reply
  • Patrick McGrath
    Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
    6y

    @Sam Lewis

    Buy as many properties next Canton by the Target and Iron Roaster for $50-$75k each. Wait 10 years and sell them for $500-$700k each! Lol

    4Reply
  • Tim JacobPro Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 520 posts · 379 votes
    6y
    Start earlier would be the biggest thing. Any mistakes I've made over the years have been a learning experience and have led to more progression in the business. If I started earlier I would be that much further along in my journey.
    2Reply
  • Jenni Ellis
    Property Manager · Member since 2018 · 174 posts · 185 votes
    6y

    Don't second guess yourself, trust your instincts, and go for it.

    1Reply
  • Soren Ager
    Member since 2019 · 27 posts · 8 votes
    6y
    I agree with you, though point #2 becomes almost impossible if you have kids, or maybe I just don't get how to work the system.


    Originally posted by @Stephen Kehoe:

    1. House hack ASAP

    2. Utilize low down payment and low rates of owner occupied mortgages as much as possible.

    3. Look for ways to add rooms  or square footage on cash purchases that are valuable enough to be refinanced after rehab.

    4. Seek to serve others in the business to build your network.

    0Reply
  • Soren Ager
    Member since 2019 · 27 posts · 8 votes
    6y
    I agree living responsibly, and I have always lived well below my means. I would though say, please also remember to live life. I am now 42 and I have already lost 3 close friends to accidents and sickness. That makes me remember to also enjoy life, as it could be gone tmr. 

    Originally posted by @Stephen Predmore:

    @Sam Lewis

    Start earlier, save more, stop buying stupid shiny things, buy assets not liabilities, live below your means.

    I have a college-age son who I'm trying to steer in the right direction with house hacking and saving for a down payment.

    1Reply
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