Newbie from Eastern Shore, MD

16 Replies

Hey everyone -- I'm from Annapolis, MD and currently live near Easton, MD. Had a friend recommend this site to me - and I've been on here everyday checking out the forums, listening to Brandon on the podcasts, what a great community here with infinite information!

I have a little experience being a landlord, when we moved from the Baltimore area a few years back, my wife and I decided to rent out our town-home, where we lived for 5 years, rather than sell it. At first, the thought of that much debt was pretty frightening.. responsible for two mortgages. We were worried about all the "what-if's." There was no way we were going to be able to afford ON OUR OWN two mortgages. However, we were surprised that we found a tenant ourselves rather quickly off of militarybyowner.com and he's been there for the last 4 years. 

So, lately I've been looking HARD at purchasing an additional property to flip, but am also very interested in finding another rental if the opportunity presents itself. 

I'm excited to learning all I can on BP, and to begin networking with all you R.E. gurus out there! 

@Ryan Price

Harford County here. Great to meet you and I, too, love BP and the resources here. It sounds like you are looking at two strategies 1) Flip and 2) Rental. What are your goals -- cash flow or one-time income? Keep in mind that rentals also bring tax avoidance strategies while flipping a house can mean taxing that as income. 

Have you checked out BRRRR? That strategy would allow you purchase and "flip" the property to yourself to hold as a rental.

Good luck and see you around!

Joseph- thanks for your advice. I have been thinking a lot about BRRRR’s — intrigued by the concept. I still have a lot of questions on specifics with that subject. They are definitely a popular subject and favorite on the podcasts. Brandon sure seems to have good luck with them.

My number one goal is to have enough passive income to be able to have more “me” time, quit my j.o.b. Seems that’s most everyone’s objective on here. I feel that the right rental properties would be the ticket for that goal. That said, I feel flipping would give me the capital needed to pay off my existing mortgages, and turn my current rental into more of a cash producing property.

welcome to the site Ryan, I’m from accomac county about an hour south of Salisbury. There doesn’t seem to be too many people down this way to chat with so its nice to have another on board. Always here to chat about real estate 

Hi @Ryan Price , welcome to BP! You'll find this is a great resource for all things real estate. My team is located in Northern VA, but we are very familiar with MD. If you have questions or interested in chatting, please feel free to connect. Best of luck!

Originally posted by @Daniel Hart :

welcome to the site Ryan, I’m from accomac county about an hour south of Salisbury. There doesn’t seem to be too many people down this way to chat with so its nice to have another on board. Always here to chat about real estate 

Thanks Daniel! Always love visiting Chincoteague.. looked at homes down there as well in captains cove.. 

Originally posted by @Bobby Montagne :

Hi @Ryan Price, welcome to BP! You'll find this is a great resource for all things real estate. My team is located in Northern VA, but we are very familiar with MD. If you have questions or interested in chatting, please feel free to connect. Best of luck!

 Thanks Bobby— really appreciate it!

Originally posted by @Ryan Price :

Hey everyone -- I'm from Annapolis, MD and currently live near Easton, MD. Had a friend recommend this site to me - and I've been on here everyday checking out the forums, listening to Brandon on the podcasts, what a great community here with infinite information!

I have a little experience being a landlord, when we moved from the Baltimore area a few years back, my wife and I decided to rent out our town-home, where we lived for 5 years, rather than sell it. At first, the thought of that much debt was pretty frightening.. responsible for two mortgages. We were worried about all the "what-if's." There was no way we were going to be able to afford ON OUR OWN two mortgages. However, we were surprised that we found a tenant ourselves rather quickly off of militarybyowner.com and he's been there for the last 4 years. 

So, lately I've been looking HARD at purchasing an additional property to flip, but am also very interested in finding another rental if the opportunity presents itself. 

I'm excited to learning all I can on BP, and to begin networking with all you R.E. gurus out there! 

 Hello and welcome! Best of luck to you! 

Great places to visit! Captain Cove has beautiful homes for sale but there's a surplus down here. Not a lot of industry jobs besides seafood which I'm sure you've seen

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