All Forum Posts by: Calvin Douglass

@Rob Roy, how did the last event in Annapolis turn out? I'm just getting started with Bigger Pockets, and would love to attend a meetup. Anything going on closer to Baltimore City?

@Ozzy Sirimsi and @Nicole B., thanks for the encouragement and advice. How frequent are investment meetups in the area? I checked out the events page, and it seems like Baltimore events are few and far between.

@Matthew Paul,

I understand the concern--I've heard similar from trusted confidants that I've shared my plans with. My team and I are working on the operating agreement presently with a goal of having a plan in place by the start of 2018. Once all documents are compiled and our team members are satisfied with the arrangement, we'll officially license as a company and get started. Thanks for the input.

-Cal

Hello all,

My name is Cal Douglass. I'm a licensed architectural engineer with 8 years of experience practicing mechanical, plumbing and fire protection design in Baltimore, DC and the surrounding areas. I currently live in Baltimore with my wife, baby and dog.

I purchased my first home as a primary residence in the Canton neighborhood of Baltimore in 2012. The area is attractive to young professionals, and I always knew that I'd be renting out the property when the time came to move on. I didn't have any real estate ambitions beyond renting out my first home, but when researching the rental process earlier this year I came across the Bigger Pockets website... Needless to say, my real estate aspirations changed.

I'm planning to shift more of my focus towards real estate in early 2018, when my three partners and I will officially start an acquisitions and holdings business following the BRRRR strategy. My team includes a licensed Architect, a CPA, and a residential contractor--we're energized and excited to get started. My team and I are aiming to acquire and hold 4 leveraged properties by the end of 2018. Our preliminary 5 and 10 year goals are $1M and $10M in leveraged assets, respectively. I view these goals as well within reach considering the diversity of knowledge that my team brings to the table. We each have a strong work ethic, and we are well positioned to push each other to achieve our potential.

I come to this community seeking advice, guidance and vicarious experience. My team has the resume and equity to acquire bank loans and hard money, and the only thing standing in our way is lack of knowledge and experience. We plan to jump in with both feet using Bigger Pockets as our springboard--we'll see how it goes! We anticipate that the first 2 or 3 deals may be a bit hairy, but by the end of 2018 we should be on track to achieve our 2022 goal of $1M in leveraged assets.

Please feel free to reach out with advice, $0.02, or even just a figurative slap on the arse for encouragement. Really looking forward to contributing to and learning from this group.

-Cal

@David Weintraub, all makes sense--thanks for the explanation.
@Jay Hinrichs, thanks for the clarification on PML vs. HML--this makes perfect sense. By the way, show #222 is tied with show #197 as my favorite so far (I've listened to about ~100 of the BP podcasts). Thanks for being such an awesome contributor to this community!

@Tom Gimer and @David Weintraub, great discussion. From the noobie perspective, it sounds like HML's are the way to go when PML's can't get the job done (because of too much risk or otherwise). Do I understand correctly that all HML's charge points and some PML's charge points? What specifically differentiates a HML from a PML? Are these entities legally different, or do we just refer to them as HML or PML based on how they structure their lending practices? Thanks in advance.

Welcome Jake. I'm also a noobie from Baltimore, but my new member introduction was blocked (yeah, I'm working on it). I'd highly recommend checking out the bigger pockets podcasts. There are many great shows on there, but my favorites so far are #197 and #222. Check them out, take notes, and figure out a way to put the advice of experienced members into action. Create a checklist of actionable items. Create a timeline. Aggressively work to check off your list within your timeline, and before you know it you'll be on your way! Best of luck, bud.

Hello all,

My name is Cal Douglass. I'm a licensed architectural engineer with 8 years of experience practicing mechanical, plumbing and fire protection design in Baltimore, DC and the surrounding areas. I currently live in Baltimore with my wife, baby and dog.

I purchased my first home as a primary residence in the Canton neighborhood of Baltimore in 2012. The area is attractive to young professionals, and I always knew that I'd be renting out the property when the time came to move on. I didn't have any real estate ambitions beyond renting out my first home, but when researching the rental process earlier this year I came across the Bigger Pockets website... Needless to say, my real estate aspirations changed.

I'm planning to shift more of my focus towards real estate in early 2018, when my three partners and I will officially start an acquisitions and holdings business following the BRRRR strategy. My team includes a licensed Architect, a CPA, and a residential contractor--we're energized and excited to get started. My team and I are aiming to acquire and hold 4 leveraged properties by the end of 2018. Our preliminary 5 and 10 year goals are $1M and $10M in leveraged assets, respectively. I view these goals as well within reach considering the diversity of knowledge that my team brings to the table. We each have a strong work ethic, and we are well positioned to push each other to achieve our potential.

I come to this community seeking advice, guidance and vicarious experience. My team has the resume and equity to acquire bank loans and hard money, and the only thing standing in our way is lack of knowledge and experience. We plan to jump in with both feet using Bigger Pockets as our springboard--we'll see how it goes! We anticipate that the first 2 or 3 deals may be a bit hairy, but by the end of 2018 we should be on track to achieve our 2022 goal of $1M in leveraged assets.

Please feel free to reach out with advice, $0.02, or even just a figurative slap on the arse for encouragement. Really looking forward to contributing to and learning from this group.