All Forum Posts by: Chris Calamari

EMD is standard. From a wholesaling perspective - it is at risk until your buyer commits with their EMD. And as a wholesaler - you should always request the buyer have a larger EMD than you initially invested.

In certain situations, EMD can be funded externally which can help some wholesalers who are just starting out.

Hey David - Welcome! I'm a new investor in the central Maryland market as well. There is a meetup scheduled for this Thursday:

Central Maryland REI Social (biggerpockets.com)

Swing by if you can make it.

Chris

Thanks for the insight Jarred - and totally agree on the networking side. Actually planning to attend my first meetup this Thursday with some folks here at BP, and I will definitely be tracking the KW meetup that is restarting in January. Realize the importance of aligning with like minded folks in the area...

Looking to start out and have a plan I'd like to execute but unsure of some of the aspects of my strategy in minimizing capital outlay. I did research the forums quite a bit, but have not found comprehensive responses and I'm looking for advice. 

So...I would like to purchase/rehab my first multi-unit property via 203K, and live in the property for the year. Then I'd like to purchase a second multi-family and move into that unit. I realize the FHA limit of one loan, so the thought is I'd go for a conventional owner occupied loan on the second unit -- hopefully at a low (5%) down payment.

Another potential option for the second (and third/fourth/so on) would be a BRRRR strategy leveraging private or hard money.

Area's of concern are - in my area (central Maryland), are investors able to even utilize the 203K option given the current market conditions? And along that same line of thinking, are BRRRR's viable in the same market/time? The more I research and analyze properties - it seems off market deals and creative financing on the subsequent properties may be the best approach?

It's been helpful to simply write out and talk through what's been rattling around in my head. But would greatly appreciate any input!

Thanks

Chris

Fantastic! Was looking for a local meetup - this is perfect, I'll be there.

Chris

New to the REI world as well, here in Ellicott City. Would love to start networking and meeting like minds...I will be checking out the MAREIA event this evening in Owings Mills. Hope to meet up with some of you folks soon!