All Forum Posts by: Wayne Brown

Thanks @Jack Seiden. Great point.

Hi @Jason Piccolo. Thank you for that feedback! I'm very interested in learning more about using condos as rentals. I had just been swayed away by the typical reply of HOA fees make it hard to cash flow. I love the idea of not being responsible with common area/lawn etc. FYI Jason I am a tenured maintenance supervisor at Liberty Tower apartments in Ballston and live in Crystal City. If you are ever in need of plumbing service call etc at one of your local rentals I do a lot of side work in the evenings/weekends.

It's actually further south in Lexington Park, MD. No not interested in selling this property. I see you are located in Waldorf. That area has come up a lot!

Originally posted by @Lamont Marable:

@Wayne Brown is your property in Waldorf or LaPlata or further south?  Are you trying to sell it?  Is it working out well for you?

You said DMV but I was thinking Baltimore but B-more is not in the DMV.  Baltimore is a state outside all by itself. 

@Russell Brazil Thanks Russell!

@Russell Brazil Thanks Russell! First let me say I really enjoyed the podcast you were on with BP! Congrats! 450K range is a bit steep for me as a beginner. I'm thinking 100K-200K range properties would be a better starting point considering multiple 20+% downpayments. I've also mentally been telling myself to be in cash until the next crash/correction and then look to really jump in. In your experience does our DMV market fluctuate enough during those times that it's worth waiting in effort of going after nicer properties at a discount? Thanks Russell.

@Andrew Gingerich Thanks for the feedback! I guess paying condo fees associated with maintaining common areas aren't a bad trade off. I am going to open up to adding condos in my searches.

Hello. I currently have one SFH rental property in Southern Maryland but reside in Arlington VA. I am looking forward to expanding and purchasing more properties. I have 13 years experience as a maintenance manager of 350+ unit properties in Arlington and look forward to applying my skills on my own investment properties but I am finding it difficult to locate good rental investments in DC Maryland Virginia area because it's so expensive. Any suggestions of good areas to purchase reasonably priced buy and hold properties in the DMV? I personally care more for cash flowing properties. I would love to locate and house hack a duplex, triplex or four plex on an FHA loan as well but they are hard to come by from what I have found in this particular area. Also, is anyone using condos as investment properties in the area? Any feedback is good feedback. Thanks!

That's great! I can't wait to accomplish this same goal! Congrats!

@Thomas S. Thank you so much for the good info. This is all new to me so I really appreciate it. Financing seems to make great sense listening to your explanation. Paying a lump sum in cash would restrict me for many years.

@Adam Gollatz Thanks Adam. Not an area that would appreciate much I don't believe. But definitely in a location/community you expect to stay occupied regularly. We've been renting it out consistently for previous 3 year's while family member was ill. But my thoughts were since I'm only paying for 2/3 of the home it would be a good cash flow opportunity. 4 years of occupancy should pay off the 40K I invested. My siblings have their own rental homes already so they thought this could be a good start for me. Even if I turned around and sold it within a few years I would profit from the portion handed down to me.