All Forum Posts by: BJ Marshall

I'm in the area, new to BP, and looking to build me network as I work to acquire my first rental.

Aside from lowering my expectations for the 2% rule down to perhaps 1%, should I compromise on any other factors? What about the 50% rule?

And if I'm focusing just on cash flow, what amount would I want to look for given properties near or around $200K?

I'm starting my 90-Day challenge tomorrow after a family visit, so I'll be looking to analyze at least five properties per day this coming week.

Is it typical that the Zillow Rent Estimate is not even above 1% the listing price of a house, let alone 2%? 

I'm brand new and starting the 90-Day challenge to buying my first rental property after having attended my first webinar last week. I'm looking in the Fort Meade (Annapolis Junction, MD, and its surrounding areas) as a start to analyzing deals. It's close to where I live and work, and I would like to think that Department of Defense affiliates (Federal Employees, Contractors, and Military) are most likely the responsible sort.

I understand the best deals might not be in my backyard, though I was quite surprised to see that NONE of the houses I looked at in Zillow met the 2% rule. Clearly people ARE landlords in this area, so how are they cash flowing? (Maybe they're not.)

Hello! I'm a new member to BiggerPockets and live in Central MD. I just attended my first Webinar and heard about mastermind communities, so I searched the forums and found this post.

I'm brand new and just learning, though I'm game for the 90-day challenge of getting my first rental property. I'm definitely interested in connecting with people in this area.

Cheers,
BJ

I'll be sure to double-down on tenant screening. That's good advice; it seems that the critical piece at times like this.

Just today, I was browsing several local listings and found one where the numbers looked terrific. I drove there (only three miles away), and as I was walking around, one of the neighbors asked if they could help me. I mentioned I was looking at a property for sale, and we had a great conversation (ten feet away) about what the neighborhood is like!

Thanks for your replies, all.  

I would like to think the market I'm in is good. Being in the Baltimore/DC Corridor, we have a lot of transients coming to work for the Defense Industrial Complex (for lack of a better term), and we have among the best schools in the country. So, the housing market with its historically low rates looks amazing and that transient work-force I mentioned seems to indicate that the supply of decent renters is high.

@Kenneth Garrett, I definitely hear you that there will always be risks - reasons to NOT take the plunge; I just wanted to make sure mine weren't deal-breakers. Some risks have a higher probability and impact than others. I think the thing you mentioned that spoke loudest to me was the need for excellent screening - can you or anyone else here point me to the best resources here for that? I'll do some searching myself on this site, and I'm open for any help I can get.

@Vilfreda Hoagland, I'm glad my post gave you something to consider, and I hope it'll help you choose the path that's right for you.

Cheers,
BJ

Convince me why I should take the plunge and become a landlord at this time. With the #CancelRent movement, the eviction moratorium, and unemployment benefits either expiring or being attenuated, I have a hard time seeing how now is a good time to start being a landlord?

I live in Central MD and thought this might be the year I delve into the real estate market, acquiring at least one (my first) rental this year - hopefully two. But then the pandemic hit. And then with all the #CancelRent protests, eviction moratorium, and expired/attenuated unemployment benefits, I'm quite unsure now is a good time.