Hello BP community,
I would like to start investing in real estate but I live in Washington DC which is an expensive market. I found a 4 bed, 2.5 bath house in PG County, MD that I could house hack. I would live in the basement and rent out the other bedrooms to cover the mortgage.
My concern is not being able to find quality tenants that can afford the rents I’m looking for to be able to live for free. Or at least less than what I currently pay in rent. PG County isn't the hottest market in the DC area but the property is located near the future Purple Line so there is appreciation potential. But the property is recently renovated and at $380k is it worth the investment?
The goal is to produce income to be able to scale to multi family properties.
Any feedback and advice on the topic and area is much appreciated. Thanks in advance.
Really depends on where in PG County. Hyattsville, College Park, Beltsville, Greenbelt, parts of Hyattsville, Mt Ranier are all pluses. South of Mt Ranier Id say no.
@Russell Brazil Riverdale? It's East of College Park, North of Hyattsville and West of the New Carrollton Metro station. As a first time home, this could be a good deal.
Largo (near to upcoming $600 million regional hospital next to the train station) is a great location. Check out the new THs literally a 5 minute walk from the hospital site and starting in the low 300s.
@Marcel Pean following keenly as I'm in the same area.