Want to buy a Rental property in MD.

9 Replies

Hi,

I have rental property in White Marsh, MD. I want to buy another property. How do I go about this?

What areas are good in MD. I do not want to go to the Eastern shore (too far away).

Do I need to get a real estate investment specialist for this?

Any tips appreciated.

There are multiple ways about going finding your next rental. Kind of Hard to tell by the brief info you announced. However one great way would be to Find a area you know really well. Call a few investor friendly agents, drive for dollars, call a few brokers and there are many more just to name a few. But Good Luck! I hope you land something. Stick with it. Also you could attend a few local REIA networking events.

Looking to do the same in Baltimore. 100k-150k range. Solid rental area. Fix up and sell for profit in the future. 

Biggest issue in Baltimore is it's a very competitive flip market, but plenty of rentals available. Since I'm just starting out I think its possible to find a deal with margins that work for me, but may be too small for the bigger guys. 

You don't need a specialist, just have to do ALOT of research. May be worth it to you to pay someone to research for you.

@Kal Pathak I see t his is your fist post so welcome to BP

What areas are good in MD.

Well that in part depends on what you want. Are you looking for strictly cash flow - Then Baltimore city is the way to go. Are you looking for appreciation or maybe a combination of some cash flow and some appreciation?

In general there are good deals to be had everywhere. Most areas of median home prices or less tend to make good rental areas. How far you go below the median depends on what you are looking for.  I think $75K to $150K neighborhoods in Baltimore city or Baltimore county are good bets for me.

@Kal Pathak Welcome to BP!!! your question is a bit general so I don't want to speculate.  Add more details on what your seeking input on and maybe I can offer my two cents.  

Persist and you will win!!!

Contact a local agent and have them forward you properties that meet your criteria.

@John B. Hi John,  are you using a company to do the research for you?

@Abena Sidibe Hey Abena, no I am not. I have a friend that is an agent there that sends me props from mls, and my cousin lives down there so he helps give some insight.  

Originally posted by @Account Closed :

There are multiple ways about going finding your next rental. Kind of Hard to tell by the brief info you announced. However one great way would be to Find a area you know really well. Call a few investor friendly agents, drive for dollars, call a few brokers and there are many more just to name a few. But Good Luck! I hope you land something. Stick with it. Also you could attend a few local REIA networking events.

Hi Dwayne, I'm a Baltimore local interested in attending some REIA events. Can you suggest which ones are out there and which ones you'd recommend? Currently in the market for an investment property, but like the OP, still trying to learn enough so I can attempt to make a good purchase.

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