Real Estate Agent · Honolulu, HI · Member since 2020 · 4 posts · 0 votes
Hey Everyone,
I am a military member stationed at Ft Meade and am looking into investing around the area. I just arrived here not to long ago and was wondering what areas would be better to look into. Being located in between DC and Baltimore its hard to decide which area I should be looking into. Your guys help would be greatly appreciated. Thanks!!
I am a military member stationed at Ft Meade and am looking into investing around the area. I just arrived here not to long ago and was wondering what areas would be better to look into. Being located in between DC and Baltimore its hard to decide which area I should be looking into. Your guys help would be greatly appreciated. Thanks!!
Welcome to BP. Id probably be partial in your area to either Montgomery County or Anne Arundel county due to the lower real estate tax rates in those counties versus Howard and PG. Thats not to say Id rule out the latter two completely, as say College Park/Hyattsville are great locations in PG for instance.
Eviction process is a little easier in AA County compared to the other surrounding counties. There are c class neighborhoods on all sides of the base that cash flow pretty decent. Plenty of B neighborhoods close by too. Laurel,Odenton, Glen Burnie, Severn, and Hanover
@Matthew Serafin will you be living in the investment? i chose to live in pg county in a home that has seen a bit of appreciation being adjacent to DC and commute to meade as necessary. If you are looking to be close, @David Wandel mentioned some areas. glen bernie in particular is seeing a lot of new construction
To me, investing means making an equity or cash profit, short term with as much leverage as possible, waiting for appreciation to see a profit is too slow for me, especially now that I am 78 years old.
The best way for you to find your investing niche or location is to use the 50 house rule, which says look at 50 properties before making an offer on any of them, study the market, find that one out of 20 or more that will give you equity or cash flow, discount 50% of what agents or sellers tell you, be sure you understand the market you are in, ask questions, get answers that you feel are correct, verify, verify, use an APOD to determine NOI on apartment houses or commercial buildings, make offers, use a skinny contract, use "Check Funds" with contingencies (perfect or contract leverage without negotiated funds, and use banking days to buy time, make early assignments:
Get in, get out what you expect and move on to the next opportunity.
Questions answers that can help decision making:
can seller help with seller financing, (getting the right seller financing is great, getting a a principal mortgage is best of all (that is secured or unsecured principal only payment until paid off, NO interest!
ask for money back at close and immediate possession
make full disclosures as to your intent, don't hide the fact that you make offers with the intent to earn a reasonable profit!
Q. consider lease option or straight option with possession?
pay down payment in installments,
Q can trade chattels or services for down payment or equity?
Do. understand the contract clauses that let you CONTROL real estate without commitment and assign for early profit out.
Wishing you good luck, thanks for your service, I was in the Army from 1959-1962, served in Germany, discharged after three years of service at 20 years old, started learning about creative financing and leveraging real estate at 21.
Really Depends on your situation.. Are you living in the property or renting it out? House hacking in the Ft Meade area can be really good as there are a lot of military that rent rooms. AA county has better schools than PG if you have kids and will be living in the house. I just finished a flip in Severn about 1 mile from the base.. Also bought a buy and hold that I am going to divide into separate rental units also in Severn about 10 miles from the base.
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