All Forum Posts by: Kyle Deutschmann
Kyle Deutschmann has started 8 posts and replied 387 times.
Post: Central Maryland REI Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Thanks for continuing to organize these Steven!
Post: Real estate agents in Baltimore area
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Carolyn Smalls:
Hi there. I’m a teacher just outside Baltimore, this is my 6th year teaching, and I want to buy a house in the near future. I was wondering if anyone knew any real estate agents in the area and any tips a first time homebuyer might not know. I would like to buy a multi family home
If you’re open to single family properties for your first house, you will more likely qualify for some down payment assistance, or a fairly large grant currently available in certain neighborhoods in the Baltimore metro area. I’d be happy to share some additional info on those programs with you if you’d like.
Also as @Jack Seiden mentioned, listing agents unfortunately put inaccurate info in their listing all the time in Baltimore I’ve noticed. I just had a deal fall through because the listing advertised “zoned for 4 units with community approval for 5”, when in fact when we verified with the zoning office, the property was actually only zoned for 2 units.
Post: Maryland Mortgage Broker
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Marissa Contreras:
Any mortgage brokers who do loans in Maryland willing to connect to see what kind of loan terms I can get? Thank you in advance and enjoy your holiday!
Post: What rate should I expect?
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Dan K.:
My husband is looking to purchase a property (owner-occupied) in Dallas, TX.
He has an 800+ credit score, no credit issues. good reserves, and consistent W2 income without significant debts. He qualified for a $500,000 loan.
The lender said the best he could do is 7% and 1 point. That didn't seem competitive and we pushed a bit, and the lender came back with 6.625% (6.825% APR) and no points.
They're showing $10,322.06 in fees ($2,571.86 in APR and $2,795.20 in no APR costs, and $5,205.00 in prepaid costs).
Is this the best rate that he should expect?
If not, I'm definitely up for connecting with anyone who can offer a better rate! Would love advice and feedback.
He probably quoted you lower the second time because average market rates on 30 yr fixed mortgages dropped by about .6% on Thursday after inflation came a little lower than previously expected, and the market reacted in a big way.
If you're still looking for a recommendation, I know a great lender/mortgage broker licensed in Texas you could talk to who will walk you through all your options for various mortgage products and current rates.
Post: Maryland multi-family investors
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Khadija Daniels:
Hello BP, I am interested in multi-family investing and will be a first time home buyer. Are there any local meet - ups? Or individuals looking to connect in the Baltimore or surrounding areas?
Hey Khadija, there are several meetups in Baltimore and the surrounding areas that I have found valuable. One is posted regularly on BiggerPockets called the central MD REI Social and is held once/month in Laurel.
Post: Investor friendly lenders
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Josh Green:
@Salvatore Lalicata
@kyle deutschman is your guy! He owns investment property in Tennessee too
Thanks Josh!
Salvatore - happy to chat sometime. I used to live in Nashville and still own property in TN.
Post: New to BiggerPocket's Community
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Martez Scott:
What's up everyone! Super excited to join the BiggerPocket's community and expand my knowledge of real estate. I came across BP during some google/youtube research and was amazed at the vast amount of great information that's being put out. I am interested in the House Hack and long term rental strategies, as well as connecting with and learning from like minded individuals. Taking this time to soak up as much knowledge as I can to start my journey in 2023. Looking forward to connecting with you all!
Post: Silver Spring/Rockville/College Park MD
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Alon Kostetsky:
Hello!
I'd love to connect with people who know these markets well - Silver Spring/Rockville/College Park, MD. I'm looking to invest there so want to learn about different pockets. Beer is on me :)
Hey Alon, I’ve got a rental (previous house hack) in College Park, and I also went to UMD for undergrad so I’d like to think I have a decent understanding of the rental market in that area. Happy to share my experience sometime.
Post: Newbie Investor Looking to Network
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Brandon Ferder:
Hi Everyone!
My name is Brandon and I am a new real estate investor located in the Washington D.C., metro area. Im starting to get my bearings within real estate investing, the market, terminology and formulating my personal strategy to begin building wealth. I currently have litte capital and stumbled upon the idea of wholesaling real estate as a starting point to get my feet wet, build my network, learn about negotiating and dive in head first.
Im looking to connect with other investors either in the area or around the country who would have an interest in speaking with me! Im currently bootstrapping my way into the industry and would love to learn more about the DMV area, opportunities, and grow my network.
Thanks Brandon for guiding me with your books and the BP Team for having me here.
Cheers,
Brandon
Welcome to BP and real estate investing Brandon! I'd recommend checking out some local meetups in the DC area. It's a great place to meet other investors, agents, wholesalers, lenders, etc. There's actually one coming up in a couple weeks in Laurel that Jack and I both regularly attend. Search for ‘Central MD REI Social' here on BP and you should find the monthly event page.
Post: Small banks in LA for duplex loan
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Benjamin Furney:
Thanks for the reply Marshall, it looks like the 5% down for conventional doesnt exist under freddie mac and fannie mae. Thats where I was confused.
Hey Ben, there actually is a conventional loan option for 5% down on a 2-4 unit property; however, there are certain stipulations including not having ownership in more than one other property at time of closing and you must make < 80% of the area median income to qualify. Otherwise a 3.5% down FHA loan may be your best bet. Happy to chat if you'd like a second opinion.