All Forum Posts by: Kal Wol

the exurbs - Frederick, Fredericksburg, some of the suburbs in between DC and Baltimore - are going to have lower price points and higher rent to price ratios. but still lots of competition and demand. i'd encourage you to start locally / in person though rather than looking for a random property in the midwest that you make $98 a month on.

one of the nice things about the DC area is that there are TONS of meetups. you can go to 5-6 a month. so: go to meetups. get preapproved for a loan. visit properties. put the work in.

Thanks a lot Nicholas. Thanks you for supporting the local property idea :) I am sure there might be a way but starting from the local one will give a good insight and better learning opportunity I believe.

Sure, are there any recommendation from the meetups you attended and think are good ones not to pass them? I really appreciate your and others time and willingness to help someone who is just starting.

0 Votes

Washington, DC

Quote from @Russell Brazil:

Quote from @Kal Wol:

Quote from @Russell Brazil:

You can rent out rooms if you stay under the occupancy limit. Can not put a kitchen in the basement and rent that out on its own unless you get an ADU license and meet the criteria for the license.

Thanks a lot Russell, so in general the occupancy limit for the 4BR with basement will be 5 only, assuming the basement, or could that be potentially more? How would that be calculated?

Occupancy limit is 5 unrelated people in Montgomery County.

@Russell Brazil thanks for the quick and very information response. I see you are RE agent and have MD license. I would love to contact with you is the 4635 a good number to get to you?

0 Votes

Germantown, Maryland

Quote from @Russell Brazil:

You can rent out rooms if you stay under the occupancy limit. Can not put a kitchen in the basement and rent that out on its own unless you get an ADU license and meet the criteria for the license.

Thanks a lot Russell, so in general the occupancy limit for the 4BR with basement will be 5 only, assuming the basement, or could that be potentially more? How would that be calculated?

0 Votes

Germantown, Maryland

Hello dear BP, I am learning a lot from all of you and thank you for being a great source for all us.

I have my primary house in Germantown MD and I would like to work on the house hacking. I wanted to check first if there is any paperwork that I have to do to handle that.

The house is 4BR 3.5BA single house the basement has its own bath but not kitchen, only wet bar. So what things should I be considering and what tax related ones shall I know before I go this route?

I see roomies.com seems to be a good place to find tenant for house hacking, do you have any other suggestion to source the tenant and also to check the background?

Thanks a lot,
Kal

1 Vote

Germantown, Maryland

Quote from @Jason Wray:

Kal,

Based on what I am seeing is out of your states Virginia seems to be doing fairly well versus DC and Maryland. DC & Maryland have some chunky home prices where in VA you can still stretch your dollar a little further.

Take a look at Indiana and Ohio they have some great STR and LTR options in and around Dayton and just outside Carmel in IN.

If you are looking for a good investment friendly program I would check out a Portfolio program. It allows you to put less down with lower rate if you have good to fair credit with 15% down with No Prepays. Avoid DSCR if you can show income or at least 1 year W2 or 1099's only because the rates and down payments are higher.

Thanks a lot Jason for the lightening fast response, much appreciated. Those are a very good points you mentioned. I am new to investing in general and not sure how I can do the out of state investing in real estates. It doesn't require me to be there like to see it and stuff? I think I already leaned something. I will take a look on the Ohio/Indiana.

For the financing, thanks a lot for the good insight. Do you know if there are services that are reliable providing the mentioned service?

0 Votes

Washington, DC

Quote from @Shaun Carter:

Hey I am also new too. I have access to private lenders, buyers and sellers

maybe we can help each other along the way

That sounds great! I am also and would like to learn and get better on this as much as possible. There are some meetups mentioned and probably we might meet there.

0 Votes

Washington, DC

Hello all, a newbie here.

I am trying to see the markets and be able to invest in the greater DMV area. I live around and would like to invest in buy and hold for rental properties.

What areas are really good focus as far rent is concerned. Also interested to know what kind of banks are more friendly to investors in this area?

Thanks a lot.

2 Votes

Washington, DC

All Forum Posts by: Kal Wol

Kal Wol has started 15 posts and replied 67 times.

Post: Trying to invest in DC Maryland Virginia area

Post: Is there any paperwork in Montgomery county Maryland for house hacking?

Post: Is there any paperwork in Montgomery county Maryland for house hacking?

Post: Is there any paperwork in Montgomery county Maryland for house hacking?

Post: Trying to invest in DC Maryland Virginia area

Post: DC, Maryland, Virginia Area Rentals

Post: Trying to invest in DC Maryland Virginia area