Essex, MD · Member since 2016 · 12 posts · 2 votes
I am new to the real estate investing field. I attended a seminar and am really glad I have discovered this website! I'd like to focus on Baltimore County(essex, dundalk, middle river, parkville, rosedale, etc) multi-units/townhouses to eventually build up to apartment complexes.
Hi @Marie G.. I have also recently started investing in those areas, and currently own a rowhouse in Dundalk, as well as one in Essex, both purchased within the past 7 months. Good luck!
My goal is to invest in the Baltimore County area as well. Have you gone to any Baltimore real estate investment club meetings? It's a great place to network
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com
Welcome @Marie G.. I'm a huge fan of the BWI Meetup. They have 2 free events each month, one for just for networking and one for educational. I have a been going to those since about February. Looking forward to meeting you soon in person!
@Marie G. Welcome to the site! And nice choice on your area to invest. I have three 2-unit properties in Dundalk. There are plenty of great properties available, some turn-key, others needing light to a lot of work. Get familiar with Baltimore County rental laws now. Get your property certified lead free preferably, but at least lead safe. (Ask me if you have questions about that.)
Dundalk is great, but there are plenty of potentially bad tenants. So the key to your success is to thoroughly screen applicants. Do not settle for someone who clearly won't be able to afford the rent. Don't expect anyone with good credit, either, though. There are some wonderful renters in Dundalk, you just have to be willing to be vacant a little longer to find them!
@Marie G., both properties were turn key with voucher tenants. My brother in law is a large investor, and got me started. He purchased the properties, rehabbed them, and found tenants for me before settlement. One of his employees is managing the properties for me, and she is excellent. The area is outstanding for cash flow, and there is very high demand for rentals. I am buying 3 bedroom units on homeowner blocks. If you're interested, shoot me a message and I can put you in touch.
good morning marie, welcome! newbie here too. just wished to introduce myself. formerly from washington, dc, i'm just getting started in the staging arena in california and i'm looking to make some connections as well. thanks and sincerely, sydney
@Angela DeBorja nice to meet you... what time do the BWI meetings normally start at? I work in NOVA so the battling of rush hour traffic can make it hard to attend meetings on time.
@Nicole A. how long have you had your properties in Dundalk? Do you buy only for te cash flow, or do you see potential appreciation in the coming 2-5 years?
I started purchasing in Dundalk in 2012. I bought with cash flow in mind. The area has a pretty high demand for rentals. I've seen some new businesses come to Dundalk within the past year or so, so that is a good sign for general growth.
Welcome! Glad you're here.There are lots of ways to learn more and getting involved in the local real estate investor community in Maryland is something I'd also put on the beginner list. Bigger Pockets is great. Listen to their podcasts in the car and you'll learn a TON.
Also, I'd be happy to point you in the right direction for things to think about and consider as you make a decision regarding your next steps.
Please check out my profile and reach out if you think I might be able to help you. I have lots of clients in the same boat- just getting started and trying to make the best possible choices as they move forward. It's great that you're reaching out for how to get started. That's a VERY smart first step. :)
@Scott DeFries regarding your question "what time do the BWI meetings normally start at? I work in NOVA so the battling of rush hour traffic can make it hard to attend meetings on time.:
The Monday evenings start at 6:30 then go until 9ish or so, but there is no set agenda. The Wed meeting start at 630 but presentation begins around 7. http://www.meetup.com/BwiMeetup/
Yes baltimore county is a great market. You can cash flow quite well there. The key is screening hard. I run a property management company. Getting the right people is atleast half the job. Then just keep them happy. If you would like any help or advice let me know. I know agents and rehabbers in the vicinty.
hi Marie you have got response from the best people in our area! What a nice thread. Ur further ahead then me but if I can help let me know I'm very local!
@Ayodeji KuponiyiThank you....yes so much information it can be overwhelming. It's great to have so much support
@Ned Careythanks yes there are! It's funny prior to me getting on BP. I had came across your blog before. Great blog btw!
@Sydney Hall thanks. Staging that is awesome! I don't have the designer eye for that. Dc to California is a trip, I hope you are enjoying the change of scenery
@Account Closed I don't no that I'm further ahead, but it's always great to see different perspective. Rosedale is local! I definitely will
@Marie G. take it one article at a time. You can listen to a podcast/day or per week and read one article per day. Just make sue whatever you read/listen, its focus on what your niche is.
@Nicole A. for your properties in Dundalk are the tenants voucher holders or market tenants? I have been looking into getting my feet wet in SFR and have been targeting Dundalk/ Essex/ Middle River. I have been researching the areas and like to hear from landlords that are currently in those areas.