Delaware Rental RE Market

10 Replies

I am fairly new to real estate, I live in Delaware and want to start my rental RE investing here. Eventually I want to start investing Out of state but think it's best to start where I currently live. Any help on learning Delaware market and hot locations for good monthly cash flow. Finding properties, analyzing deals and number. Anything will help. Thank you!

@Kris Alexander honestly, there are much better markets to invest in IMO, although my rentals are in Wilmington. In you want cash flow check out parts of Wilm, upper new castle, Dover area.

@Kris Alexander I don’t know the first thing about the Baltimore area. I’m sure you could get some houses on the cheap I’m just not sure how the area would be. There is opportunity out there off market here in DE. You just need to connect with the right people.

I live in Baltimore and have property here but actually considered investing in Dover, DE. There are lots of people there interested in selling near Wesley College which got bought out by Delaware University earlier this year. Plenty to rehab and get good cash flow. Also, low taxes. Maryland has crazy taxes compared to Delaware. But I would start out local because you want to keep an eye out on your property and learn how to fix simple things if you aren't quite handy yet. Just my 2 cents. Happy hunting!! 

@Kris Alexander 2 of mine were purchased and fixed up to some extend.  That was 3 plus years ago though.  Wilmington Prices have gone up for sure, but quality of tenant hasn’t necessarily.  You can still get the 1% rule in decent areas but there aren’t as many there used to be. Low income areas can still get 1.5% or an occasional 2%.  This is on market props.  There are off market stuff out there is you’re a good marketer.