New to Real Estate · Baltimore, MD · Member since 2022 · 12 posts · 5 votes
Hey there! I'm new to the REI space and I'm looking to start investing in Baltimore. I've chosen wholesaling as my first approach since I don't have a ton of capital up front to do a BRRRR or flip. I'm currently traveling abroad since my spouse is in the foreign service, so I'm looking to do this from afar.
I lived in Baltimore before recently moving abroad, so I know the landscape of the city a good bit. I'm looking for any advice you all might have on how to talk to sellers from afar and how to navigate showing buyers the house. Do people ask their friends to go? Use realtors?
Also, any connections from the Baltimore area or traveling spouses would be greatly appreciated! Thanks you guys!
Hey there! I'm new to the REI space and I'm looking to start investing in Baltimore. I've chosen wholesaling as my first approach since I don't have a ton of capital up front to do a BRRRR or flip. I'm currently traveling abroad since my spouse is in the foreign service, so I'm looking to do this from afar.
I lived in Baltimore before recently moving abroad, so I know the landscape of the city a good bit. I'm looking for any advice you all might have on how to talk to sellers from afar and how to navigate showing buyers the house. Do people ask their friends to go? Use realtors?
Also, any connections from the Baltimore area or traveling spouses would be greatly appreciated! Thanks you guys!
WHY do you want to start now, especially from afar? Real estate is hard enough when it’s right next door. Wholesaling is an entire extra level of risk as it is, and you want to go an entire order of magnitude more difficult than that by being over the horizon.
you’re pounding nails into your own head. Where are you going to find ultimate buyers? How will will find out buyer criteria so you can match potential deals with potential buyers? How will you inspect the property and figure out value from “afar.”
Concentrate on earning money so you have working capital. Pay off debt. Build relationships and teams.
Maybe find someone who will take on an investor for his own deals and go from there?
@John Clark Hey John, great question! I'm starting because my job offer with the federal government got rescinded due to the hiring freeze, so I'm currently unemployed.
I'm partnering with my realtor I used to buy my first home to do the in-person aspects of this. I'd find buyer criteria the same way anyone else would, through networking. I'm part of the Baltimore REIA and have been reaching out to people who might be interested in buying properties. I'd say the majority of the leg work in this (like cold calling, mail campaigns, networking) is mostly all done from your desk at home.
I don't have debt, so that's not a concern, I just have a lot of time to build connections right now.
Could you tell me a little more about what taking on an investor would be? Do you mean reverse engineering it and house hunting for an investor? If so, that's what I'm actually trying to do now!
@John Clark Hey John, great question! I'm starting because my job offer with the federal government got rescinded due to the hiring freeze, so I'm currently unemployed.
I'm partnering with my realtor I used to buy my first home to do the in-person aspects of this. I'd find buyer criteria the same way anyone else would, through networking. I'm part of the Baltimore REIA and have been reaching out to people who might be interested in buying properties. I'd say the majority of the leg work in this (like cold calling, mail campaigns, networking) is mostly all done from your desk at home.
I don't have debt, so that's not a concern, I just have a lot of time to build connections right now.
Could you tell me a little more about what taking on an investor would be? Do you mean reverse engineering it and house hunting for an investor? If so, that's what I'm actually trying to do now!
Find out who is interested in buying wholesaled property. Find out their criteria for buying. When you find a deal, you already have buyers to talk to. What happens if you sign a contract and then can’t find a buyer? Avoid problems before they arise.