All Forum Posts by: Nicholas L.

@Aaron Kim

you didn't "find" this deal, an agent sent it to you.

is it on market or off?

seems like a lot to try to make work for your first.  there's no way to know from the info you provided if it's a "deal" or not.

have you considered house hacking?  do you already own a primary?

i'd focus on improving your credit score.  RE isn't going anywhere.

@Henry Lipscomb I don't think you need a mentor right away.  If you get a good W2 job with that degree and minimize your expenses, you'll be way ahead of the game.  By all means, attend REIAs and network and meet people, but I don't think "securing a mentor" needs to be at the top of your to do list right now.

@Stefan Gray 

post more details

how much are you putting down?

what are all the other expenses?

what are you basing projected rents on?

@Michele Velazquez I'm not at all saying it can't be done - it can!  I just think that Baltimore might be one of the absolute toughest markets to invest in from California.

@Bailey Kramer just to follow up - you own 6 properties, but those 6 aren't short term rentals?  Or you no longer own the 6 you bought and you just manage? 

@Bailey Kramer this might be a silly question but just to be clear - you own 6 yourself, and manage those 6 plus 24 more?

@Colleen McLaughlin call more lenders. I got a DSCR loan earlier this year without seasoning. Just be aware that the rates are going to be a lot higher than if you went to a big national bank.

Just take a look at posts like these....

https://www.biggerpockets.com/...

@Michele Velazquez you're in California, right?  Sure, you can invest in Baltimore, but I think it's going to be tough to get your Core 4 built up from that far away, and it would be a lot easier to pick a market within 2 or 4 hours of you in CA.  There are major, drastic differences among Baltimore neighborhoods and even street by street in some cases...

And just a reminder that the title of this post includes "when starting out."

99% of investors starting out should not pursue either of these strategies =-)