All Forum Posts by: Amanda Brickell

Hi everyone,

I am new to REI and am interested in starting out in Maryland and Virginia.

In Maryland, it is restricted to contact people directly from the pre-foreclosure list. Other than hoping to find them on other lists, are there any ways around this? How are those investing in MD contacting and making deals on pre-foreclosures?

Thanks in advance!

Quote from @Da Shiek Woodard:

Amanda I am very interested in this thread because I too live in the DMV. I've been looking at out of state properties because everything here is so expensive, I'd love to know what strategy is the most interesting to you. I'm here to learn as well.

 Hi Da Shiek, 

Yeah, unfortunately we live in a really high cost of living area that does not seem super inviting for new investors. I have been focusing on studying heat maps and looking into job growth and development around lower cost of living areas to try and hone in on an area of focus. Secretly my dream would be to own a bunch of obscure Airbnbs but, that isn't what I am focused on at the moment. I am most interested right now on long term rentals and also learning more about wholesaling. Has there been any resources you have found particularly helpful in your learning process?

Best,

Amanda

Hi Eric,

Welcome to BP! I am impressed with all you have done during your lurking phase while still working fulltime. I am in a similar boat- binging BP books and podcasts, and living in a high cost of living area. I live outside of DC in Montgomery Country MD but have been looking all over maryland and virginia for potential areas of focus. I am also connecting with people in the area. We can help each other succeed as we learn. 

I am curious:

What book/podcast/resource have you found to be the most helpful in your learning process? 

For me it has been the Rookie podcast and a WREIN (women's real estate investors network) course. Hearing other people's journeys, fears, struggles, and triumphs really has helped me get into a REI mindset and to believe its possible for me to succeed.

I bought the book a little late. I hope when it arrives I can catch up. either way, love this idea and will look forward to getting involved. 

Howdy!

From one newbie to another, welcome and good luck! I think there's a lot of potential out there for us newbies. I agree with the other suggestions, the real estate rookie podcast and your first real estate investment podcasts are both great. There are also a lot of great books linked here on BP. I'd follow as many people as you can on IG and keep networking! 

Quote from @Joaquin Camarasa:

Hey Amanda, 

I am based in Northern Virginia. My question would be what is the structure set up you have with your family members and what an ideal investment would work for all of you. Make sure to be very specific with all the family members on % and risk appetite for each of them.

If you are able to share what you have in mind now, we can probably help you to get closer to your goal, analyze how realistic it is as well as the risk involved.

Hi Joaquin,

Thanks for your thoughtful reply. The team so far is Kelly Wright and Roger Webster (my parents). They have a few rental properties already but are looking to expand with a more investing focused mindset. I am learning under them with the goal of branching out on my own once I have things under wing. Right now I'm focused on learning more about loan options and best strategies as well as figuring out what location/market to focus on. I'm interesting in learning more about wholesaling but our focus is more on short-term and long term rentals. 
if there is any other details you'd like just ask. 

Quote from @Sally Pearson:

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

Hi amanda! I am a young professional living in DC - I work in tech and have savings set aside to begin my investment journey. I am in real estate classes now, mostly just to have a classroom setting to learn, but want to invest in likely multifamily properties. I would be interested in the REI business you are building!

 Hi Sally, I just sent you a DM so we can chat more!

Quote from @Carlos Morales-Benitez:

Congrats on getting started on your investment journey Amanda! if you need any help looking for investment properties,im an agent in the Maryland Area

Hi,
that would be great!

Quote from @Russell Brazil:

Quote from @Amanda Brickell:

Quote from @Russell Brazil:

Im in the DMV. Any specific questions you have?

Nice to virtually meet you Mr.Brazil. We are in the process of setting the the holding company and LLC. In the mean time, we would love any advice you may have on making meaningful connections with lenders, contractors, investor friendly Real Estate Agents....

Since you are in our area, do you have any advice on the best strategy to start with? We have been learning about wholesaling, BRRR, student housing, Short term and long term rentals, but are not sure which one to focus our first efforts on. We do have a couple long term rentals, but those were bought years ago before we were in an REI business mindset. We have the motivation and commitment, we now just need our attentions focused on next steps and making the leap.

Thank you for responding to my post. It's great to see others helping us newbies. We hope we can make a splash in REI and be able to pay it forward one day.

One thing to consider is if you have a property in DC and it is owned by an LLC, as opposed to an individual person, it automatically becomes subject to rent control.

 I didn't know that, thanks for the tip!

Quote from @Luka Milicevic:

Welcome to the forums! 

Go up to "network" and search for members and vendors in you area to connect with. 

Make sure to attend your local meet ups!

 Thank you! Will do.