I had not taken into consideration the tenant laws when thinking about that area, good point. I know Maryland has a tenant-friendly bent, but is there anything specific to PG that I should be aware of vs other parts of MD? Is DC much better for landlords as far as tenant laws go?
One area we've been eyeing is Riverdale Park given the new development going in there anchored by the Whole Foods and the fact that the commute into DC isn't too bad, especially with the MARC. A strategy we've been considering would be to buy a place in PG as our new primary residence and rent our house in DC (which would have great cash flow). We'd hold onto the new house in PG for a year or two and renovate it, at which time we could move on to a new primary residence and either sell or rent the PG house depending on the market. I'm assuming that in that area it is close enough to UMD that we could market to that crowd if we decide to rent. Ray, I hadn't considered your point about the new construction and that's giving me something else to think about.
We're really just starting to learn about our options, so it's great to be able to bounce ideas off here.
