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Updated over 7 years ago on . Most recent reply
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Cashflowing properties in Montgomery County?
I work in DC/NOVA and currently am renting in Bethesda. I'm looking to buy my first property within the next year, however scouring Redfin I've noticed that SF homes in this area look very difficult to cashflow, when you consider your monthly mortgage payment vs. how much you could realistically expect to collect from renting out the other 2-3 rooms. There are also very few, if any MF homes in this area. With that said, condos or townhomes look like they could be attractive, however most of them have very high HOA fees.
If you've had success renting out and cashflowing properties in this area, please advise what has worked for you.
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Everything you said is totally correct. I have a friend that was going through the same type of problems and he decided to rent out bedrooms and not the whole house. Its great cash flow but you have to be built for it. My friend had that type of mindset and don't play when it comes to collecting rent from the guy right next door. SO that's one idea that you might want like to look into. Good luck