Long Distance Investing, Seeking Neighborhood Advice

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Long Distance Investing, Seeking Neighborhood Advice

Jacob Masters
Rental Property Investor · Severna Park, MD · Member since 2018 · 18 posts · 6 votes

Hello, I currently live in Louisiana and I am trying to find a place to live in when we move to Maryland in the next few months.  I would like to find a place that would cash flow in Glen Burnie, Severn, Odenton, or Millersville. My other option is renting for a year which will cost me $24,000-30,000 in rent for a year. I kind of think it is a good opportunity to jump start my real estate investing. I don't have to find an amazing deal.  I need a decent deal.  Maybe something that doesn't quite make sense for a pure investor but since I will be living in it for a while it makes sense for me.  I was hoping to get some general advice about those areas that I wouldn't know from online research.  Thank you.  

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
8y

Pretty diverse area you are talking about from some pretty scummy areas of Glen Burnie to some really nice parts of Severn.  

You should probably just decide where you want to live, and the kind of neighborhood you find acceptable to live in.

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  • Dan Robinson
    Investor · Alexandria, VA · Member since 2013 · 72 posts · 26 votes
    8y

    I think you can find something that will cash flow or at least break even in those areas if you look hard enough. You'll want to keep it under probably $300k though.

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  • Jacob Masters
    OP
    Rental Property Investor · Severna Park, MD · Member since 2018 · 18 posts · 6 votes
    8y

    Thank you. I was actually looking around 200k at least for the acquisition price. There are a lot of townhomes in that range, which my RE agent says rents easier than a detached SFH. My understanding is that w/ condos and townhomes it is imperative to vet the hoa/condo board and see if they have cash reserves.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    8y

    Pretty diverse area you are talking about from some pretty scummy areas of Glen Burnie to some really nice parts of Severn.  

    You should probably just decide where you want to live, and the kind of neighborhood you find acceptable to live in.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    2Reply
  • Account Closed
    Downers Grove, IL · Member since 2017 · 366 posts · 165 votes
    8y

    Agree would not buy anything until you lived there for awhile. Buying investment property is different, schools, neighbors, crime all effect your cash flow, but they are sort of baked into the costs, your not living with it. 

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  • Ken NyczajPro Member
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    8y

    @Jacob Masters I grew up in the millersville/ glen burnie area. Public schools aren't very good and I can't say they're getting any better.

    That being said, there are definitely some duplexes in the area where you could try to buy the whole duplex and rent the other side out and have that pay for your mortgage. If you want something that is around the same price but economically on a higher end, and better schools you could look into Pasadena which is only a few miles away.

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  • Jacob Masters
    OP
    Rental Property Investor · Severna Park, MD · Member since 2018 · 18 posts · 6 votes
    8y
    Originally posted by @Ken Nyczaj:

    @Jacob Masters I grew up in the millersville/ glen burnie area. Public schools aren't very good and I can't say they're getting any better.

    That being said, there are definitely some duplexes in the area where you could try to buy the whole duplex and rent the other side out and have that pay for your mortgage. If you want something that is around the same price but economically on a higher end, and better schools you could look into Pasadena which is only a few miles away.

    I've only seen two duplexes in Glen Burnie, none in the other areas. Do you know any wholesalers or other people who might know about duplexes that may be for sale but not on MLS that you could recommend?

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  • Ken NyczajPro Member
    Investor · Grasonville, MD · Member since 2017 · 453 posts · 415 votes
    8y

    @jacob I don't know any wholesalers. You could always try to market to these owners directly or work with an agent who specializes in foreclosures that could give you information as soon as a foreclosure comes to market.

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