All Forum Posts by: Michael Allen

@Victor Etongwe that helps a ton! appreciate the thoughtful and insightful response!

Hey guys!

So I'm really trying to get into wholesaling, but the pitfall I'm running into is the whole contract portion. I get that I've gotta find a motivated seller.. so when I do, we sign a contract, but it has to be an assignment contract correct? I've tried looking in the file place and didn't find anything for MD.. how simple (or complicated) does the contract have to be? 

Thanks,

Michael

Lots of great information here everyone. At first, I wasn't really up to the idea of turn key rentals being that great. But since it'll cash flow right away (and cash flow is king) I think that may be a route to go. I actually found a REO/Foreclosure that's turn key ready :O thanks BP!

I'm going to look at a property tomorrow, and I'm getting super anxious, but I'm unsure of the next step(s).

I've already contacted a HML to secure the loan. Once that's secured, then what?

- Offer on the property 

- Find a contractor, have him walk through and make sure my rehab estimates aren't too far off

- Offer accepted & close

- Contractor gets to work

- Profit???

I know I'm missing some things.

@Ned Carey Thanks for the welcome! Where/when is the meetup in Anne Arundel county?

@Dmitriy Fomichenko Thanks! I will definitely check out those links today when I've got some time! Thanks for replying!

@Account Closed Thanks again for that info. I'm literally trying to be a sponge and get as much as I can. We will be in contact!

Hello everyone!

My name is Michael Allen and I am newly into the real estate / real estate investing community. I reside in Glen Burnie, MD and looking to invest in the surrounding areas. One day, my wife and I were discussing about being those magical words - financially free. At work, a lady mentioned if she had to start over, she'd have some rental properties and got me thinking... that's a great idea! Long story short, my wife went to high school with someone who was doing exactly that - flipping and having rentals and actually found BP for me.. and here I am. 

My goal one day is to be financially free, have enough passive income to live off of and have my business run without me being there day in and day out. I've been listening to every single podcast every chance I get, and reading as much as I can. I'd love any tips/ideas that anyone has to offer!

I'm currently trying to set up getting my real estate license to have access to the MLS. However, until then I'm trying to find my first(!!!) deal but scanning craigslist, walking around and even going to put up bandit signs - whatever works right?

I'm excited to be here!