Home Buying in 20905>Question Details

Chris Mcfadd…, Both Buyer and Seller in 20901

What are the best options for a rental investment property in Montgomery County, in the less than $150K range?

Asked by Chris Mcfadden, 20901 Wed Dec 26, 2012

Is Leisure World a good investment? Are Howard, Prince Georges better? I want something that isn't too far from where I live in north Silver Spring.

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Answers

6
Chris,

If your looking to invest in homes for rentals less than 150k range, Prince George's County would be a place for you to start. You can definetly find detached homes within the price range less than $100K. Some of those turn key and some that need some work. I work with a few investors that purchase rental investment properties and make a good return on there investment. You can get rents up to $1,800 in certain areas.

View some homes currently listed as potential rental investment properties than if you like what you see, you can contact me at 301-917-5721

http://matrix.mris.com/Matrix/Public/Portal.aspx?ID=50124436481

Rocsheen Holston, Realtor
Realty Direct, Inc.
1401 Mercantile Lane, Suite 100
Largo, Maryland 20774
Direct: 301-917-5721
Office: 240-770-3580 ext. 381
1 vote Thank Flag Link Fri Jan 4, 2013
Chris, view the investment trends for any zip code in Maryland.
0 votes Thank Flag Link Mon Feb 25, 2013
Hi Chris, Prince Georges is not very close to North Silver Spring. If you wanted to do a detached or semi detached home, Prince Georges would be the place for your price range. If you do not mind a condo near North Silver Spring for $150k it is possible. Howard County is not too far from Silver Spring. Most Leisure World homes are for a certain age group and you may be limiting the number of possible renters. I suggest you have your Realtor research properties, their value and repair costs if any; to provide you with the most profitable available listings. I always like to look for properties with a lot of equity in them with little repair costs. Contact me and I will help you.
0 votes Thank Flag Link Sat Jan 5, 2013
Piero has it right. The train stations at Glenmont and Wheaton has the best values right now for an investor seeking condos.
0 votes Thank Flag Link Thu Dec 27, 2012
If you focus your investment search in Montgomery County under 150,000 most of what is available are condo's. Town home prices are higher in the 180,000 to 200,000 or more $$$ with 90% being short sales with some foreclosures mixed in. Many of of these town homes have gone under contract in 3 days this past month. Investment properties under 200,000 have become very competitive this past fall so I hope your paying CASH. This market condition will continue into 2013 and will likely get worse as the spring market develops.

The investment condo market is a viable option, just be aware the monthly condo fee's can vary widely which can reduce your monthly rate of return. FYI property management fee's average 8%.

Greg Myers
RE/MAX Realty Group
0 votes Thank Flag Link Wed Dec 26, 2012
Chris, I think Silver Spring, specifically the Wheaton and Glenmont Metro areas, presents the best conditions for rental investment right now. It won't be easy to find something under $150K, but I assure you the opportunities are there.

North Silver Spring, including Leisure World, is a great option. For example, I just sold a unit in Leisure World with a tenant already in place for $95,000. The Condo fee, taxes & insurance came out to $770/month and the rental income was $1,500/month. with around $700 clear you have room for property management and a mortgage if you needed either.

There are also some townhouses and condos in the area that present similar opportunities.
0 votes Thank Flag Link Wed Dec 26, 2012
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