BRRRR Question....Anne Arundel Co., MD

[Larry Smith]

My wife and I are military living in Maryland. We want to invest local (outside of Baltimore) using the BRRRR method, but aren't sure about paying the prices we are seeing. Maryland is not a cheap area, we're seeing run down homes in the low 200's around Glen Burnie for those familiar. No, we aren't working with a realtor yet. Right now, we are driving for dollars and learning to analyze. My question is, as long as the numbers work, does it matter what a SFH is priced for initially? If this question doesn't make since or I'm completely off base, set me straight! Thanks BP

[Matthew Paul]

@Larry Smith What you are seeing is what it is . You are in competition with a LOT of people in Anne Arundel county . People with deep pockets , both fix and flip and buy and hold . The best way is find off market word of mouth deals . I am your competition , and I have 15 or so friends and customers that are your competition . My last 3 were under $150K in Pasadena . All word of mouth . Honestly if its a deal and you are not cash you wont get the property the minute someone else hears about it you are out .  

This area isnt expensive , this is normal , other places you have been were cheap and you didnt realize it .