Updated almost 8 years ago on . Most recent reply
New Member from Maryland
So I have been browsing BP forums for about 3 month now and decided it was time to finally post something!
I do want to start out my post by saying THANK YOU to everyone that takes the time out of their busy schedules to provide their knowledge, inside and experiences to the forums for people like me to learn from. Without you, what newbies (like me) are able to accomplish would not be possible (at least not without more time and mistakes!)
A little about me, my name is Kevin Snyder, I live in Southern MD and I am currently active duty military and just starting to think about REI. I am obviously not looking to start a career just thinking about starting to build a buy and hold portfolio of rentals. I wouldn't say I am currently an active REI but I do own two homes, One that I currently live in located in Southern MD and another that I have been renting for 2 years in Washington State (lived in for 3 years prior to moving to MD). I guess you could say I got lucky with my WA home, I purchased brand new with a 0 down VA loan, its seen about 30% appreciation in 5 years and cash flows ~300 monthly after PITI. I do manage it myself from out of state but am fortunate that the rental market is a strong one for military members looking to sign 3 years leases. That property is what has gotten me into thinking more about the possibilities of REI.
Again, thank you to everyone who has talen the time to read this post and share your wealth of knowledge and learning experiences. I look forward to continuing to learn from the BP community as I develope my person plans for REI and hopefully eventually jump in and start building.
Good luck to everyone in the New Year,
Kevin Snyder
Most Popular Reply
- Rental Property Investor
- Baltimore County Maryland and Tampa Florida
- 2,490
- Votes |
- 2,733
- Posts
Welcome to BiggerPockets, @Kevin Snyder, and thanks for introducing yourself!
It sounds like you're off to a pretty good start having 2 properties. Just remember, even after PITI, factor in costs of other things too like vacancy, repairs/CapEx, Property Management (even if you don't actually hire one), and any utilities you pay (that a tenant might not have to pay).
Baltimore County and City have some fantastic rental options that are also affordable and tend to cash flow well. Perhaps that could be an area of interest for you on your next property!