All Forum Posts by: Kyle Deutschmann
Kyle Deutschmann has started 8 posts and replied 387 times.
Post: 🚨 Seeking Private or Hard Money Lender 🚨
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Saint Kyle:
I am seeking a private or hard money lender to finance the acquisition and rehabilitation of a single-family home in Youngstown, OH. The property is currently under contract.
If you are interested in discussing this investment opportunity further, please contact me.
Thank you.
Hey Saint Kyle, I just sent you a DM. Would be happy to chat if you're still looking for financing.
Post: Investing in Alabama as out of state investor with a partner
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Steven Catudal:
Hi all,
My partner and I are looking to buy investment properties in Alabama, specifically Birmingham. We are both out of state investors. We both own 1 property at this time. I had a few questions and would appreciate any advice in general.
Strategy / Goal: BRRRR but no major rehab at first to lower the risk. Plan is to purchase a couple homes over the next year. We want to get a few rentals up and running and then (if all works well) begin bringing other friends/investors in to invest with us. Current goal is focused on growing a portfolio and reinvesting cash flows. We are not focused on the passive income at this time as both working W2.
Questions:
1. We will be investing 50/50. What is the best way to structure the partnership? Should we start LLC?
2. For financing, would we then want to get a DSCR loan under the LLC or should we start with conventional loans under our name until we hit a certain number and then move them over? I heard that if you move the personal mortgages to an LLC they could get called and we would want to avoid that
3. Generally speaking, have any of you invested in this area and been successful? Did you look into renting to Section 8 tenants? Would love to learn from your experiences.
4. Any advice for out of state investors that would be beneficial?
5. Any general advice for someone starting out in a partnership and looking to grow a portfolio?
Thank you in advance,
Steven
1) Yes LLC would be smart. I used Zen Business to setup my first LLC and it was super easy. I'm sure there are other similar services out there.
2) DSCR loans would probably be your best bet. Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this for you.
3) I can't speak for the area so no comment there
4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need.
5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties.
Post: “BRRRR” a primary residence
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Brody Veilleux:
Is it ever a good idea to "BRRRR" a primary residence, minus the renting part? Just buying a distressed home, renovating and refinancing it to recoup costs that can be used for future investments, then living in it permanently?
Post: Baltimore/D.C. Area Real Estate Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Sandra Holt:
I just saw this post and was disappointed I missed the meeting. Will this be a regular event? I'm a residential landlord looking to branch to commercial property and would love to connect with likeminded investors.
Sorry you missed it! Yes we used to host this regularly in Laurel but recently decided to move this to Columbia. We will post the link to the next event here, or if you want to get notified by email you can signup for the meetup.com group here: https://www.meetup.com/dmv-area-real-estate-social/events/
Post: Maryland's Best Investment Markets.
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Brian Schroeder:
Do anyone have any favorite cities / counties to invest in in Maryland? I'm curious to hear why.
Post: Solar panels rental property
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Rene Ochoa:
Morning, does anybody know how the solar panels work in a rental property, or it's the same as primary residence?
As Chris mentioned it works the same, however, the tax credits and incentives may be different for a primary home vs a rental. Is that what you’re asking?
Post: Central MD REI Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
https://www.biggerpockets.com/forums/521/topics/1165230-balt...
Next event is posted! New location!
Post: Central MD REi Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Next event is posted! New location! https://www.biggerpockets.com/forums/521/topics/1165230-balt...
Post: Baltimore/D.C. Area Real Estate Social
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Thanks for getting this posted Jack! For those who used to be 'regulars' - this was previously the "Central MD REI Social" hosted by @Steven Silbert.
All are welcome whether this if your first or 10th time buying a house! It’s a casual event with no speaker or hidden agenda. Just an opportunity to talk about real estate over a beverage or two since our friends and family are sick of hearing us talk about it!
Post: Newbie from VA/MD/DC Area
- Lender
- Baltimore, MD
- Posts 417
- Votes 205
Quote from @Kevin Choi:
Hi BiggerPockets community!
I am a newbie investor from the VA/MD/DC area (DMV). A licensed architect in DC with +7 years of professional experience in architecture, design, and construction management. Still, it had never occurred to me to be on the investment side of things until I met my wife and we began discussing our future. Now I'm studying CRE finance, investment, and tax strategies aside from my full-time job to better equip myself with the essential financial literacy.
We are looking to get started with our first investment next year, preferably within the DMV area. Our primary interests are in long-term rentals (single and multifamily), flips, short-term rentals, flex spaces, and storage units.
Looking forward to connecting and building meaningful connections! Happy Holidays all!
Welcome Kevin! I'd echo some others and suggest coming out to some local meetups. There are a few that get posted regularly on the events page on biggerpockets as well as on meetup.com