New Investor from Gaithersburg Maryland

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New Investor from Gaithersburg Maryland

John Stoeber
Rental Property Investor · Denver, CO · Member since 2017 · 50 posts · 23 votes

Hi everyone! I’m from Gaithersburg Maryland and am looking to build up my real estate network and learn as much as I can for the next 12-18 months before investing in residential multi-family properties. I’ve also just started my first job out of college so this will give me time to build up some capital. Based on the research I’ve done I think parts of Baltimore and Frederick would be good markets to start in that are also close to my home. Any advice you professional investors can impart on me will be much appreciated!

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
9y

Welcome to BP. Multifamily investing is a hard nut to Crack in our area of the country. The entire region has an extremely low number of these properties.

We have a monthly Meetup in Gaithersburg of BP members. We have a round table discussipn, sometimes analyze actual deals and network. You should check it out. By far the best meetup/reia in the metro area.

https://www.meetup.com/Gaithersburg-BP-Real-Estate-Meetup/

[email protected]301-893-4635Podcast Guest on Show #192
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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y

    Welcome to BP. Multifamily investing is a hard nut to Crack in our area of the country. The entire region has an extremely low number of these properties.

    We have a monthly Meetup in Gaithersburg of BP members. We have a round table discussipn, sometimes analyze actual deals and network. You should check it out. By far the best meetup/reia in the metro area.

    https://www.meetup.com/Gaithersburg-BP-Real-Estate-Meetup/

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    3Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    9y

    Hi! @John Stoeber Welcome to BP.

    [email protected]571-200-6180
    1Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @John Stoeber

    Welcome to Bigger Pockets. You are at the right place to learn about real estate investing.

    0Reply
  • John Stoeber
    OP
    Rental Property Investor · Denver, CO · Member since 2017 · 50 posts · 23 votes
    9y

    @Russell Brazil what do you recommend looking for as an investment property in this area? In one of the neighborhoods close to where I work (outside of Baltimore) there looks like there are a bunch of triplexes that have some potential as section 8 rentals, granted they would probably need some rehab to meet the regulations. And thank you for the link, I've been looking for a local REIA so this is awesome!

    And thank you for the warm welcome  @Upen Patel and @Mark Nolan.  See you around the forums!

    0Reply
  • Kenyo Henry
    Oxon Hill, MD · Member since 2017 · 17 posts · 5 votes
    9y

    Welcome John let me know if your looking for a great contractor in moco or Baltimore. 

    0Reply
  • Kevin Hunter
    Rental Property Investor · Carlisle, PA · Member since 2013 · 1k+ posts · 543 votes
    9y

    @John Stoeber, welcome to BP.  This is a great site to help you do exactly what you are looking for.  @Russell Brazil and @Upen Patel are two of the experts in this area so I would stick close to them if I were you.  Good luck. 

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y
    Originally posted by @John Stoeber:

    @Russell Brazil what do you recommend looking for as an investment property in this area? In one of the neighborhoods close to where I work (outside of Baltimore) there looks like there are a bunch of triplexes that have some potential as section 8 rentals, granted they would probably need some rehab to meet the regulations. And thank you for the link, I've been looking for a local REIA so this is awesome!

    And thank you for the warm welcome  @Upen Patel and @Mark Nolan.  See you around the forums!

     What I look for in a rental might be completely different than what works for you. Every one has different goals, strengths and weaknesses, risk tolerance levels etc.  I don't have the risk tolerance nor the patience or oersonality to deal with low quality tenants. Someone else could kill it in that sector though. I invest in nicer areas with high quality tenants....but I can take a lower cash flow yield both because I already have enough cash flow from my portfolio as well as having a job as an agent that makes me a good income.  But for someone looking to replace their income quickly, without a big bank roll,  buying a 400k house in silver spring or Rockville probably wouldn't be the best choice

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    2Reply
  • Eric SmithPro Member
    Investor · East Greenwich, RI · Member since 2016 · 48 posts · 15 votes
    9y

    @John Stoeber, welcome to BP.  I echo what @Russell Brazil said - go out and get involved with some of the REI groups in the area. The Gaithersburg one is a good place to start.

    As an aspiring investor myself, I've been pursuing out of state investment options as I didn't think I could get my cash flow off the ground, quickly around the DMV. I'll let you know how it goes! :)

    1Reply
  • John Stoeber
    OP
    Rental Property Investor · Denver, CO · Member since 2017 · 50 posts · 23 votes
    9y

    @Eric Smith I'd love to hear how that goes and the steps you take to become successful.  What out of state markets are you looking into?

    0Reply
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