Maryland Investors(Anne Arundel County)

13 Replies

Are there any investors here that invest in the Anne Arundel County area?

I have committed to driving for dollars around the area before trying other marketing stratagies and I would like to know what investors are looking for in the area. Please add your criteria information in the comment section. 

Criteria Info:

Investment Type

Investment Area

Property Preference

Hello Mike,  Allen Cheney does AA county. I believe he is a Pro member here on BP.  You can also try:  mailto:[email protected]

You can tell him I refered you.

@Andraise Scott  Thank you i will try to connect with him and I will tell him you refered me.

Welcome to BP Mike. Anne Arundel is a tough county to invest in from my experience. Especially if you are concentrating in the Annapolis, Arnold, Severna Park areas. Prices are high. My guess is 80-90% of foreclosures at the Courthouse steps go back to the bank because the lenders were in way over their head. This being said, I still focus in this area. Their are still deals to be had, but the game is patience, persistence and due diligence. Good luck to you.

@Steve Bradigan  Thank you!

What has been working for you in the county when it comes to finding deals?

Mike, there is no one magic formula. I research every day, follow every lead. I network, check foreclosures, estate sales, REO's and so on. I have not found any wholesalers that focus their efforts in this area of AA county. I have a pretty good team including a good buyer's agent that I work with, some contractors and a private equity partner. We pay cash. We've both been in some field of real estate most of our professional lives.

I am in AA county ,  I picked up 2  great deals in Pasadena in the last year and a half.  One  deal came to me , it was luck.  1 was in a blue ribbon school district  that was while I was workking and a saw a fsbo sign , the other was 4 acres with house and out buildings for 150,000 ...... working on a subdivision right now . Severna park , and arnold rarely goes cheap . I paid a premium for my residence , just for the school district and water access and community pool.  I found 2 more in Pasadena and let a buddy of mine know he bought 1 and his brother bought the other . 

@Matthew Paul  I recently was working in the Severna Park are and have thought about driving the area to see what's out there. I live in Annapolis and I know here can be expernsive as well depending on the area. I want to start driving the Severn and Old Mill school district area to find properties soon, do you have any experience in that area?

There is not much in Severna Park , anybody with school age children that has a better than decent income is looking there .  Tear downs are $ 175,000 and up just because of location . The numbers are hard to make work in SP .   Severn and old mill , thats a big area there is a big mix in there .  Off donaldson rd and queenstown rd there are some possibilities the last time I drove thru . Near the casino too . But nothing is real cheap in AA county unless you get close to balto .

@Matthew Paul is on the money. Last 2 properties I bid in Severna Park asking price was high $200K. ARV $400K plus. Was outbid on both. If you're just starting out go north, some areas of Pasadena and Glen Burnie. Maybe check out some areas of Crownsville also. That would be closer to Annapolis for you.

@Matthew Paul   @Steve Bradigan  Thank you both, you have both been great help. I will start driving the areas you have suggested. Hopefully soon down the line I can return the favor and help you guys!

Originally posted by @Mike Moulden :

@Matthew Paul  @Steve Bradigan  Thank you both, you have both been great help. I will start driving the areas you have suggested. Hopefully soon down the line I can return the favor and help you guys!

 I am glad you offered , we are replacing a septic tank tomorrow , and I need someone to start the siphon to clean it out.                             .........................................  Just kidding

Originally posted by @Matthew Paul :
Originally posted by @Mike Moulden:

@Matthew Paul  @Steve Bradigan Thank you both, you have both been great help. I will start driving the areas you have suggested. Hopefully soon down the line I can return the favor and help you guys!

 I am glad you offered , we are replacing a septic tank tomorrow , and I need someone to start the siphon to clean it out.                             .........................................  Just kidding

LOL!!!!!!!!!!!

Originally posted by @Matthew Paul :
Originally posted by @Mike Moulden:

@Matthew Paul  @Steve Bradigan  Thank you both, you have both been great help. I will start driving the areas you have suggested. Hopefully soon down the line I can return the favor and help you guys!

 I am glad you offered , we are replacing a septic tank tomorrow , and I need someone to start the siphon to clean it out.                             .........................................  Just kidding

 LOL good one