I am a new investor in the Baltimore, Maryland area that is looking to get into rental properties either through student housing or SFRs. My goal is to achieve 5,000 a month in passive income through these properties. My family has several single family homes and a few commercial properties that have a good amount of equity built up in them and I hope to use this money to achieve my goal. I am looking for an investor friendly agent to build a relationship with that can help me in finding good deals. I have found a few properties that work according to my numbers, but would like another set of eyes to analyze the deal just in case. If you have any other questions feel free to ask or contact me directly. Any tips/advice on this particular market or any suggestions for good areas to invest in for rentals are greatly appreciated.
Hi @Solomon Oh and welcome. I'm a licensed agent and investor located in Pasadena, MD. Where are you looking to pick up your rental properties?
Hey @James Bowerman thanks for the response I greatly appreciate it!. I am actually looking into the Glen Burnie and Pasadena areas. I want to get some rentals under my belt for the passive income which is my main goal. I am looking for properties that aren't too distressed but may need a little paint and carpet rehab, nothing too major regarding repairs. Do you have any advice on the rental market for these areas? I know these areas attract a good amount of people with blue collared jobs which is the type of tenant that I am hoping to obtain.
Glen Burnie will probably yield some better deals for rentals. Pasadena has basically two sides, but are both attractive because of the schools. However, these markets are relatively expensive to get into. There are deals to be found, but you're probably going to be in the $150-$200 range. I flipped a property in Pasadena, buying at $130 and selling at $250. I'm looking to get some rentals in these areas eventually as well. I grew up in the area and know it well. We should connect offline if you want to have a more in depth conversation.
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