New member - wanting to buy in Houston, Austin, DC or Baltimore!

New member - wanting to buy in Houston, Austin, DC or Baltimore!

Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes

Hi everyone, my name is Asma and I’m new BP member :)

I have been an IT consultant for the last 9 years, and bought my first rental property last year in Austin, TX.  I live in DC, but spend a lot of my time in TX, which is where I grew up and my family still lives.  I bought, renovated, found a tenant and was EXHAUSTED by the end.  But afterward.....I realized, I actually enjoyed it!

A year later, I’m getting the itch to buy a second property and am currently trying to decide between Baltimore, DC, Houston, or Austin. I know very little about Baltimore and DC, but I’ve been reading that there is so much flip opportunity in these two markets.  This time around, I’m considering trying out a flip, which is a scary thought!

This is what brings me to BP. I'm excited about learning as much as I can and figuring out what my long term REI strategy will be, learning about different markets, hearing other people's stories and sharing the little bit of experience I have with someone that might benefit :)

I find myself day-dreaming that REI could possibly someday be my ticket out of my 9-5 consulting job…but that seems like an impossible dream right now.

I have a lot to learn, so would appreciate any advice on markets, strategies, resources to read/listen to, etc.  Thanks!

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  • Investor · Houston, TX · Member since 2015 · 176 posts · 121 votes
    11y

    @Asma A. Welcome!!!

    Congrats on your first rental.

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    @Michael Delpier, thanks!  I'm really looking forward to joining the community.  How has your experience in Houston been so far? 

  • Investor · Houston, TX · Member since 2015 · 51 posts · 11 votes
    11y

    Welcome Asma.  Plenty of investors here in Houston will be able to help with a rental, you shouldn't have too much problem with rentals here.

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks, Jimmy!  Do you do rentals in Houston?  If so, have you had a good experience?

  • Investor · Houston, TX · Member since 2015 · 51 posts · 11 votes
    11y

    @Asma A.  Many investors here build their rental portfolio, and sometimes they buy from fellow investors.  I myself don't have a rental here but it is in my plans down the road in the not so far distance.  All in all Houston is competitive but also a healthy rental market.

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    @Jimmy Huen  thanks for the info and that's great that you might have a rental in the near future! I hope you find something good!

    If you ever want to talk about landlording, let me know.  I dont have a lot of experience, but am happy to share what I have :-)

  • Investor · Baltimore, MD · Member since 2014 · 1k+ posts · 688 votes
    11y

    always better to keep your project geographically close, particularly if you are considering flipping a house, which requires far more babysitting. Baltimore is an excellent rental market, DC good also, though DC prices are significantly more expensive.

  • Investor · Houston, TX · Member since 2015 · 51 posts · 11 votes
    11y

    Thanks @Asma A. will do.

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks @Seth Sherman.  You mentioned Baltimore being good for rentals.  Do you feel like it's a solid market for flips as well? 

  • Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
    11y

    Hey Asma, welcome to BP.  I've had great experiences flipping in Baltimore.  Since you are in DC I suggest looking in some of the west side neighborhoods like Gwynn Oak, Forest Park, or Howard Park.  There is a lot of demand from young professional families who want a house and a yard but are still committed to city living.  Plus there is plenty of vacant inventory to pickup cheap.  Good luck!

  • Real Estate Broker · Cypress, TX · Member since 2013 · 822 posts · 468 votes
    11y

    Hi Asma! Welcome to BP. I've been long-distance landlording for a number of years. I did a mini rehab on two properties, and because I had a good team, it went fine. But to do a major flip, not sure I would want to tackle that remotely. As stated above, Houston has a very healthy rental market because of the strong job market. Let me know if I can ever be of help. Good luck!

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks, Joseph!  Great to connect with you and appreciate the suggestions.  I plan on going to Baltimore this weekend to drive around some neighborhoods and get a better feeling.  What neighborhoods do you mostly flip in?

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks, Sharon and nice to meet you!  I think you're right about doing a flip locally.  For the time being, I'm going to focus on doing a flip in either DC or Baltimore.  If/when I do venture back into Houston, I'd love to chat more.  Thanks again!

  • Investor · Austin, TX · Member since 2013 · 452 posts · 309 votes
    11y

    Welcome to BP, @Asma A.!

    I do all of my RE investing in Austin, but travel to DC twice a year for board meetings. I lived there many, many, many, moons ago, and love how the city has grown and changed. 

    I don't know anything about the DC or Baltimore market for flips, but know a little about the Austin market and people are flipping successfully here at a variety of price points. I think the key is, you need to get solid on your criteria, identify the areas that fit both demographically financially, and take the leap!

    Feel free to reach out if you have any specific questions or need someone to go on a recon mission for you to check out a property.

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks @Lynn Currie! Excited to be here :-)

    Small world that we share both cities! I'm glad to hear you've had good fortune with REI in Austin. As a newbie to REI, I'm still crafting out my strategy, and I hope that figuring that out will give me more confidence. Thank you for the advice!

    I would love to reach when I'm in Austin.  Thanks again :-)

  • Baltimore, MD · Member since 2015 · 80 posts · 18 votes
    11y

    @Asma A.

    I am not too familiar with the Baltimore market but after going to a few Maryland REIA groups, make sure you do your due diligence first and not be caught up in a low priced property. Baltimore has some decent areas but I'd become an expert in that market first!

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    @Brian C. thanks for the tip. That's funny you mention that, I was just looking at a list of properties under 10k today thinking.... there's gotta be some catch here. I'm definitely going to try and go to one of the REI meetups. Thanks again!

  • Investor · Upper Marlboro, MD · Member since 2014 · 13 posts · 2 votes
    11y

    Welcome aboard, @Asma Ahmed.  

    I'm on my second year of wholesaling in MD but I've stayed away from Baltimore and DC.  That's about to change this summer as I'm widening the net.  

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks, @Don Cote! Best of luck and congrats on expanding.  Sounds like a good move :-)

  • Investor · Rockville, MD · Member since 2015 · 12 posts · 6 votes
    11y

    Welcome Asma,

    Although I new to investing, I grew up in DC. So, if you ever need some info about town, let me know.

  • Investor · Tualatin, OR · Member since 2015 · 4 posts · 3 votes
    11y

    Baltimore looks promising!

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome @Asma A. it’s a pleasure to have you here! You will find this a tremendous resource for all of your real estate needs. You may want to set up some “keyword alerts” to notify the topics that interest you the most.

    All the best to you!

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    Thanks @Cooki Karriem @Richmond Amos @Dmitriy Fomichenko! Will definitely keep all in mind.  I do need to set up some keywords, there is so much information here! What a great resource. 

  • Investor · Washington, DC · Member since 2015 · 24 posts · 5 votes
    11y

    @Gene Rivas, I agree Gene.  Baltimore seems like a bit of a patchwork quilt to me though, and I'm still working to figure out the right neighborhoods, streets, even blocks! 

    Have you done any investing in Baltimore?

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    You're welcome, Asma!

    See you around the site!

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