New to property investing

[Dan Hartman]

Hi BP, I joined a few years ago and haven't posted before. Current goal is to buy a rental property in the Ocean City, MD area. I'd like to rent it as much as possible and leave a few weeks during the year to stay there with family. 

Over time I'd like to purchase more properties in other beach areas where I might want to retire at some point. 

Thanks for providing all the information here.

[Julio Gonzalez]

Welcome to BiggerPockets, Dan! 

[Dan Hartman]

Thank you

[River Sava]

Welcome Dan! Coastal rentals can be a solid investment with strong demand. I would also suggest looking into meetups/join facebook groups to connect with local investors. Good luck as you jump in!

[Benjamin Aaker]

Hi Dan, Welcome to the forums. Best of luck on your new investing journey. Read a lot and network. Look at deals even if you don't intend to buy right now. Start getting your finances in order. That's the best way to get started.

[Dan Hartman]

Quote from @River Sava:

Welcome Dan! Coastal rentals can be a solid investment with strong demand. I would also suggest looking into meetups/join facebook groups to connect with local investors. Good luck as you jump in!

 Thank you for the advice. 

[Lauren Kormylo]

Dan, you might want to check out the Short Term Rental forum here on Bigger Pockets too.

Also, in the past week, there is some disturbing news from the city council in OC.  Here are 2 articles talking about new regulations they're trying to put on STRs there, which definitely could impact your rental income, especially if you buy in an R-1 area.  Even if not, the writing is on the wall for more regulations for everyone, if they approve these.

https://www.coasttv.com/news/ocean-city-council-to-discuss-r...

https://www.oceancitytoday.com/news/ocean_city/ocean-city-co...

[Bob Stevens]

Quote from @Dan Hartman:

Hi BP, I joined a few years ago and haven't posted before. Current goal is to buy a rental property in the Ocean City, MD area. I'd like to rent it as much as possible and leave a few weeks during the year to stay there with family. 

Over time I'd like to purchase more properties in other beach areas where I might want to retire at some point. 

Thanks for providing all the information here.

 Is there a question ? 

[Dan Hartman]

Quote from @Lauren Kormylo:

Dan, you might want to check out the Short Term Rental forum here on Bigger Pockets too.

Also, in the past week, there is some disturbing news from the city council in OC.  Here are 2 articles talking about new regulations they're trying to put on STRs there, which definitely could impact your rental income, especially if you buy in an R-1 area.  Even if not, the writing is on the wall for more regulations for everyone, if they approve these.

https://www.coasttv.com/news/ocean-city-council-to-discuss-r...

https://www.oceancitytoday.com/news/ocean_city/ocean-city-co...

Thank you, I'll check out the STR forum and thank you for the two links. I'll read through and keep track of what happens. 

[Bill Hampton]

@Dan Hartman

Welcome to Bigger Pockets. Bigger Pockets is a great place for education and networking and is full of great content.

I recommend that you check out the following resources:

1. Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction

2. Check out other online guides available here: https://www.biggerpockets.com/guides

3. Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog

4. If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking

5. You can meet local investors by registering to attend real estate events in your area: https://www.biggerpockets.com/forums/521-events-and-happenings

6. BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators

7. If you can't find what you're looking for, try the Bigger Pockets Fileplace. It contains hundreds of files such as ebooks, checklists and spreadsheets for real estate investors: https://www.biggerpockets.com/files

Good luck.