All Forum Posts by: Eric Schrader

So I have been looking into the viability of the SFR rental market in the Harford County MD area, specifically Bel Air and Forrest Hill. When looking on the MLS, there is very little available / advertised. So I don't know if that is because there is a large demand or there are just not that many because there is no demand.

I have read that there is very little of the higher end rental complexes in the area.  I believe 2 new appt. complexes are currently under construction.  Any thoughts on this from the group?

Hi Dan. I consider myself a Harford county guy even thou I live just over the pa line. I'd love to get together for some coffee and discuss ideas. Currently I am in analysis paralysis. Trying to work thru this.

Does anybody have any recent experience with hard money lenders in MD.  I am looking to invest in Harford County.

thanks

Todd I have been looking to start investing in the Harford county area now for several years. I worked some fix and flips with my father in the mid 90s. That didn't work out very well for him. He was looking / working in the Baltimore city/ county area. He focused on buying houses at HUD auctions. Most of the prime property on the HUD rolls managed to disappear right before the auction. I would love to get together and exchange notes, ideas or what ever. I'm sure we can help each other out. Regards. Eric

Admittedly, I am becoming overwhelmed with data and information.  

If I decide to focus on flipping, can someone explain to me the advantages of setting up an S-Corp?   

Thanks

Pete S

I am currently overwhelmed by information.  I think I may be looking at too many things at once, including refinancing my own residence.  

I have done some digging. You can get 100% HELOC with interest only payments. This looks to be something that could work. I am going to account for this cost in carrying costs for either my flips or rentals (I am not sure what my plans are currently, Again. Overwhelmed at the moment).

Hi all

I have been getting some great feed back from this community.  THANK YOU...

If i use a HELOC for a down payment for a rental property, how do I account for that carrying cost in the overall financial analysis of the deal?

Thanks Again...

@BrianEastman

Thanks for that information. That didn't occur to me. Thanks for the clarification. I still like the options, but will be looking into funding some purchases with a HELOC or similar vehicle.

Eric 

So like most all investors starting out, I have run into a money problem, but I believe I have several solutions. The most promising is converting my current Brokerage IRA into a Custodial type IRA to used to fund some initial purchases. This will give me about 100k in starting capital. The other options involve gaining access to existing equity in other houses, none of which are mine.

Has anybody worked with the custodian IRAs?  

I am slugging through all of per-startup items for my real estate launch. I am seeing if anybody has any good experiences with specific lenders in the Bel Air, MD area.  I have heard good things about TD bank.  Anybody have any others I should look into?