All Forum Posts by: Thomas Abbott

Hey Blake, 

I am eventually interested in getting a real estate license myself.  In asking both of my agents where they got theirs, they said and suggested:

Champions School of Real Estate - Offers normal class schedules along with night/ weekend classes.

http://www.championsschool.com/fort-worth-campus.p...

Purvis Real Estate - 

https://www.purvisrealestate.com/

@Natasha M. Hey Natasha, you're right, the homes would be outside of the Fed Hill area.  With the recent events in the city, I've decided it would be best to get started in the neighborhoods I am familiar with.

Thanks for the advice, I appreciate the reply!

@Andy Gross Thanks for the insight.  Federal Hill definitely has its positives and negatives that would need to be weighed.  I do like the overall feel of the neighborhood and what the area has to offer.  In reading about how Baltimore housing can vary by the block, I think I would prefer to stick to an area that I am familiar with for starting out. 

I will definitely take a look at the multi-units up that way.  Definitely a good option too.

Hey BP,

I've got a new investor strategy question relating to buy and hold properties in Baltimore.

It's looking like I'll be moving to Baltimore for work within the next couple months. In seeking out housing options I decided that I would like to live in the Federal Hill area (which tends to be one of the higher priced neighborhoods). In looking at the numbers, I can buy a 3BR SFR for roughly $275,000, live in one of the rooms and rent out the other two for a total income of about $1800/month (before expenses). All in all it seemed like a great way to start in real estate investing until I began reading about some of the deals investors are getting in other areas of Baltimore.

I have seen and read posts where Baltimore investors have acquired properties for $40,000 to $80,000 and then rent them out for about $1000/ month (rough numbers).

In your opinion, would it be a smarter financial decision to use my saved money to either:

1. Buy in Federal Hill to "househack" while learning buy and hold first hand?

or

2. Rent in Federal Hill and use my saved money to invest in lower priced properties with a way higher cap rate?

Thanks in advance for the advice!

Great post, congratulations on the first deal!  Thanks for sharing!

Hey @Zachary Miller, I'm a new investor myself that's looking into buying a place for myself in Federal Hill and renting out the extra rooms.  Have you had any success since the last post in January?  

Sorry for the delay in response!

@Kyle Gregg Nice to see another engineer on here! From what I've seen on the MLS, Baltimore looks like a great place to get started in real estate. With prices significantly less than the DC, it really has its appeal. Have you had any success in finding good investment properties thus far?

@Sonya Stovall Very cool!  The next time I am in the area I will stop by check out the brokerage and say hi!  

@Peter Sanchez  Thanks Peter!  I definitely won't hesitate to ask questions.  If you ever need help on future projects, I would love to assist wherever help is needed.

@Christina R. BP Nation, catchy!!  I think I'm willing to be flexible with my investment locations assuming the opportunity is there.  I work in Fairfax and live in DC so I have been exploring my local areas because of ease.  It looks like you invest in Maryland mostly according to your profile.  I half way have browsed real estate in Baltimore.  Being a new investor, the numbers are a little less intimidating there compared to DC.

@Edward Synicky Thanks Edward for reaching out! I definitely am glad I found BP. It really is the best resource and motivator out there for REI. If I ever need anything I will for sure reach out to you and the BP community. Everyone on BP is so willing to help, it's great knowing that I have some many people with experience providing support. I look forward to growing my wealth within real estate!

@Brandon Turner Podcasts are great!  Blog posts are great!  Thank you for all that you do with this site.

@Ali Boone Agreed.  It is such a cool field of engineering.  With technology pushing towards drones and unmanned vehicles, the industry is really undergoing a major rehab itself.

Well, thank you for taking the time to share your experiences.  Please keep sharing!  I will definitely reach out if/ when I need help.

@Russell Brazil Thanks Russell!  Hey I’m ready for a challenge but definitely have limits set.  Right now I’m exploring Trinidad.  The area is in a great transition phase and I think with H St development/ trolley, the location has a lot to offer for a reasonable price.  Have you done any work in this area yourself?

@Elizabeth Colegrove DC is a great city!  It definitely has some great gutting/ fixing opportunities with the cost of living being so high.  I am actually working with a great team right now (agent and loan broker) who have gone through the 203k multiple times before.  From everything I’ve read and learned, working with people familiar to the 203k can make the entire process a little easier.  They have a whole team build around 203k's including a list of approved contractors previous buyers have successfully used.

I definitely plan to take a similar approach to REI as I will still be working full time. I'm currently progressing through the podcasts (great for the traffic filled DC commute) so I will make sure to check episode 103!

Over the next couple of days I will work to get my signature and profile up complete, thanks for the advice!

@Dave Visaya Hi Dave!  Thanks for the welcome.

@Jerry Padilla Agreed!  I actually started going to meet-ups first before finding BP/ other investing sites.  I think I may have done it backwards from the typical investor but hey I suppose there’s no set directions in RE investing.

@Ali Boone Hey Ali!  I’m actually a big fan of your articles and read them frequently via the BP twitter account.  One of the first articles I ever read on BP was (Real Life) Hurdles to Real Estate Investing.  After reading the bio following your (great) article I instantly felt motivated as I actually have similar background.  I have an undergrad in Aeronautical and Mechanical Engineering myself.

@Jon Huber  @James Wise  ^Had some issues tagging you, but figured it out.