Updated over 10 years ago on . Most recent reply
Multi Family Rental
Hello BP,
I am looking to purchase my first investment property in Baltimore by using a FHA owner occupied loan. I currently live in DC and I am a licensed realtor in DC and MD. I want to know what are the best areas in Baltimore for buy and hold. Should I buy at a discount and rehab using the 203K? Also being though I am just starting out should I rent to section 8 holders or W-2 tenants only? Any advice would be greatly appreciated.
Most Popular Reply
@Damien Dupee best is relative. Some people want nicer neighborhoods believing they will have fewer problems and possible appreciation. Some investors want to maximize cash flow and are willing to go into lesser neighborhoods.
If you choose the lower end route, I recommend section 8 tenants. In poor neighborhoods you will likely have more problems collecting from market tenants.
In general think you are better off buying fixer uppers and gaining sweat equity by renovating. (PS not your sweat, pay someone to sweat for you)