Brooklyn, NY · Member since 2016 · 12 posts · 0 votes
Hello BP community, my name is Malcolm and like many of you I have aspirations of becoming a RE investor.
Im from NYC and the market here is ridiculous, so I am looking to possibly get into Rental investing in the NJ - Newark or Baltimore area. I have a 1-2 two year time horizon, but I want to see if this even makes financial sense (working with limited capital sub 25k) ? I work full time in Finance and actively trade stocks but I want to take on the RE challenge, please let me know if anyone is actively invested in these markets and and ideas on this as an investment strategy?
Rental Property Investor · Long Island, NY · Member since 2015 · 490 posts · 301 votes
7y
@Malcolm Brewer 25k won't get you too far in Newark unless you get a HUD loan with 3% down and house hack which I see a lot of people doing. Worth looking into for you from that angle.
Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
7y
$25k could go a long way in some Baltimore neighborhoods, but as others have suggested its hard to do without managing construction projects day-to-day and rentals week-to-week. I wouldn't consider long distance investing here without a solid partner in town.
Real Estate Investor · Waldorf, MD · Member since 2014 · 592 posts · 320 votes
7y
Yeah B-more will get you a property up to roughly 80-100k, (with HM support of course), to either flip or rent. It's doable for sure like @Joe Norman said. I'm investing in the area now and looking for another project to jump into once my current project gets refinanced.