New job in DC area, looking to live/invest in Calvert County, MD

[Cole M.]

Hello Ladies/Gentlemen,

I am new to the BP forums and am excited to meet other investors! I am currently looking for an investment minded realtor that is familiar with the real estate market in Chesapeake Beach, MD. 

I am moving to the Washington DC area in the next few months for a new job and would like to purchase an investment property that needs work/updating to be my home for the next year or two, then rent out thereafter. I am still evaluating my options, but at this point, I would like to find a live-in flip in Chesapeake Beach, which is in Calvert County MD.  I have focused on Chesapeake Beach because it is a great community that appears to be stable, safe, and within my commute threshold. 

If anybody has any experience in Chesapeake Beach, Southern Maryland or the Washington DC area I would love to hear about it! I am not opposed to investing/house hacking inside Washington DC if there are some plays to be made with small multifamily or a VA loan that could allow the numbers to make sense. From what I have seen though, DC itself looks too competitive for an outsider and has high entry costs. I can't pay cash or come up with 20% to put down on a 500K fixer upper so I think I need to look outside the city for the most part.

I am excited to be part of the BP community! Please chime in with any advice you have for a prospective buy and hold, cashflow investor in the locations mentioned above.

Thanks,

Cole