Hello all. I’m fairly new to BP and this is my first post after lurking for a while. I’m a new investor in the Baltimore area looking for buy and hold rental properties with one property under my belt. I’m an active duty service member. I just went to my first BWI Meetup gathering where I took away some very good advice, and made a couple of connections.

A little about my first property:

Area: West Baltimore/ Midtown Edmondson

Purchase price: 134K

Rehab Cost: 0 -The property was a full gut renovation (someone else’s flip)

Mortgage/Tax: $1,050

Rent: $1,425

Now that I've done tons more research on BRRRR, I'm not too proud of my first property, especially since I used a lot of my own cash to purchase it. The house was listed for 145K, but appraised for 134K, and because I was anxious to get in a deal, I purchased it at that price. Never will I do that again!! Patience is a virtue.

So now I'm back at the drawing board, looking for other properties to utilize the BRRRR concept. Currently looking into properties around Penn North/Reservoir Hill (where I grew up), McCulloh/Druid Hill/Madison Park, and then Pigtown.

Anyone have any current (2018/2019) insight on these areas? I’m an avid listener to the BP podcast, so I have the basic understanding that almost anything can work if it’s a good deal and the numbers work.

Also, anyone have any insight on using a Hard Monday Lender for my next property? Pros/Cons specific to the area?

Lastly, with refinancing, does any bank do that? Or should I try to get ahead of myself and line up a bank to refi as part of the planning process before purchasing my next property?

Thanks in advance!