All Forum Posts by: Joy O.

Welcome Qua! I am a new investor in Maryland as well, just closed on a property in Prince George’s county (bowie), and looking at Baltimore for my next purchase. Glad you’re here! 

I assume this occurs**?

@Russell Brazil thanks for the insight. While of course paying over asking isn’t uncommon in the least bit, especially in pricier markets, I this occur at even greater time now

Hello all, i'm a newish member in the DC-Maryland metro area, looking to get started in REI with house hacking using an FHA loan, which I was recently pre-approved for. I currently live with my parents rent free closer to Columbia/Baltimore, but would like to move closer to the DC area, so Montgomery and PG Counties. My questions would be:

- Is now a good time to buy for a primary house hack if i'm in no rush? While the low interest rates are attractive, in this market I'm not the most competitive with the low FHA DP, and buying something over asking or with a larger than required DP doesn't make sense to me. I'm in no rush, if waiting even just a few months is better or be more convenient

- can one still fare well with a fairly retail, turn-key SFR?

- (local) What areas in MoCo/PG would be ideal for decent value and/or cash flow? I'm looking to stay within ~30-45 mins of Tyson's Corner/Fairfax, so mostly along the 495 corridors 

Thanks in advance for the guidance!

looking to connect with folks in CoMo as well! I am relocating at the end of the year for work, and started to learn the local market and have started looking at some multis

@Marco Harris II nice! If you don't mind, What strategy did you use for those in the city? Bought outright? BRRR? What has been your experience thus far?

@Marco Harris II thanks! Crossing my finger that the closing happens lol, as there’s been some hiccups. This first one is a mostly turnkey (cosmetic repairs) 4bd/2ba townhouse rental in the Towson/Parkville area.

Still getting to know the local market, but I’m interested in doing single family rentals and BRRRs in the county and city. The city is definitely attractive with the lower price points but know it can get tricky for a variety of reasons, so learning a bit more before jumping in.

What about yourself?

@Marco Harris II Hey Marco, I’m originally from Maryland, but just move back after some time in Durham, NC. I’m about to close on my first rental here in Bmore, and looking to connect and network with others in the area!

I just relocated from NC to MD as well. If you're looking to stay local, I would recommend looking at Baltimore County for lower price points than PG. And like someone else said, your realtor should've had that appraisal contingency in the contract. If you're looking to BRRR, have you considered hard or private money? There are a few MD investor groups on FB with both lenders and people with deals you might be interested in - look up "Maryland Real Estate Network"

hi @Alan C.how can I get connected with your group? I'm looking to get started in wholesaleing and would appreciate the network. thanks!