First rental property: DC, MD or VA?

First rental property: DC, MD or VA?

New to Real Estate · MD · Member since 2021 · 15 posts · 8 votes

Newbie and ready to invest in my first rental property! It's scary! Every "friend" and family member has something to say about location and that now is not the right time...I've been told that the best of the 3 is VA because the laws are better for property owners (easier and faster eviction)...is this true? What are the pros and cons of these states? I am looking for a turnkey property. I will really appreciate all the advices and opinions I can get! Thank you BP community!

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
5y

DC will have the highest appreciation. MD will have some more moderate price points. All 3 are extremely hot, but Virginia is the hottest of the 3 with properties getting 30 plus offers there with more like 10 to 15 offers in MD and DC.  Rents are also weaker on the Virginia side of the border. 

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  • Real Estate Agent · Sterling VA (sterling, va) · Member since 2020 · 10 posts · 7 votes
    5y

    @Leticia Otero congratulations! How are you planning on finding tenants now? I am new to all of this and learning the ropes.

  • New to Real Estate · MD · Member since 2021 · 15 posts · 8 votes
    5y

    @Rinku Sinha I posted an ad on facebook. So far working great, had 30 interested people in 2 days...scheduled 8 serious prospective tenants to show the place after choosing the best out of the bunch...following all the advices in the book "the book on managing rental properties" by Heather & Brandon Turner, very useful by the way!

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