Looking to invest in pg md or Howard md!

13 Replies

I’m looking to invest in pg county md and Howard county md for flip. Can you guys tell me pro cons. Where exactly I should be looking to flip I mean like which cities. Definitely like pg since it’s close to Dc.

Very different Counties and you will pay a premium for Howard County...you might look in Savage as it is a bit cheaper than the rest of Howard County...I dont know much about PG County other than it is going to be much cheaper.

@Laura Tokgozoglu You will be facing very fierce competition in this area. For Howard county your pricepoint will be significantly higher than PG county. I would make sure you understand everything that goes into renovating in Maryland as the county is very specific and their codes far exceed standard building codes. @Russell Brazil is an agent in the area and may provide insight as well.

Thanks for the tag @Chris Seveney

Flipping in Howard County, as well as Montgomery County is pretty hard.  The price spread between non-rehabbed and rehabbed homes is incredibly tight.  The high demand that those two counties have pushes price points up on the low end properties so that they simply are too close in price to the high end properties making flipping more difficult.

PG county however, (along with DC) is very easy to flip in.  The spread is huge.  PG county you can typically expect a profit in the $20-$30k range, and DC you can expect a profit in the $50k range, to even higher if you move up in price point.

In PG county the areas you would want to look at are Hyattsville, Mt Ranier, Brentwood.  In DC you would want to look at Brightwood, Petworth, Trinidad, and Anacostia.

@Russell Brazil Russell thanks for taking time and explaining the process. I just bought a property in Clinton. It’s on section 8 tenant are currently living in there. I haven’t done the closing yet because ratification process takes awhile here. Basically what I’m trying to understand the pg section 8 program. I would really like to hold on to the property. Should I continue with existing tenant.

I would agree with most everything mentioned here.  I am a investor in PG County, MD.  We are currently on a project in District Heights.  My experience is this area is all based on scope of work to resell at top price.  A typical 2-3bd with 1-2ba only sells retail $250/$275 in PG.  Once again a good buy is only determined on how much work is needed to sell at this price.  With that being said use the 70% rule you can't buy and rehab total budget more than $175 All In.  Don't forget your closing costs on purchase and all your fee's when you sell.

Originally posted by @Chris Burch :

I would agree with most everything mentioned here.  I am a investor in PG County, MD.  We are currently on a project in District Heights.  My experience is this area is all based on scope of work to resell at top price.  A typical 2-3bd with 1-2ba only sells retail $250/$275 in PG.  Once again a good buy is only determined on how much work is needed to sell at this price.  With that being said use the 70% rule you can't buy and rehab total budget more than $175 All In.  Don't forget your closing costs on purchase and all your fee's when you sell.

This may be typical for that part of Prince George's but the prices vary is certain areas and are very far beyond $275.

Not sure how important it is to someone flipping but I'm looking to include PG county in my investing area ( I live in Anne Arundel Country but work in Beltsville, MD. 

One drawback for me was the property tax rate for PG county seems to be high which in turn cuts into monthly revenue for a rental.