Rental property in Baltimore

4 Replies

Looking at rental property in Baltimore in the 100k range(single family, row homes ). I’ve been working with an agent but I’m not sure how to access whether or not a certain home would make for a good rental property. What data should i be analyzing? What equations should i use?

I would recommend checking out Rentometer, also use comps within the area to base if you're getting a good deal or not (craigslist, zillow, etc.). You can use Census data as it is a national database that can project future economic outlook, job growth, etc. 

Originally posted by @Kristopher Lamy :

Looking at rental property in Baltimore in the 100k range(single family, row homes ). I’ve been working with an agent but I’m not sure how to access whether or not a certain home would make for a good rental property. What data should i be analyzing? What equations should i use?

 Hi Kristopher! The BP calculators here provide great analysis from plugging in the subject properties information. Starting out, I'd recommend to focus on two primary formulas: Monthly Cashflow and Cash on Cash Return on Investment. 
You'll set the minimum criteria to determine if the property is a good investment or not. For example, in my market and my situation, I search for Min Cashflow of $200 and CoC ROI of 8%.

Different people will have different criteria. Also, as you continue to learn more, you'll increase the formulas you use and the weight you place behind each one.

Hey look up info about the 2% and 1% rule for buy and holds.  Here is a pretty cool article from J. Scott on it.

http://www.123flip.com/education/the-2-rule/

Originally posted by @Kristopher Lamy :

Looking at rental property in Baltimore in the 100k range(single family, row homes ). I’ve been working with an agent but I’m not sure how to access whether or not a certain home would make for a good rental property. What data should i be analyzing? What equations should i use?