Small multi Family in Dc vs Baltimore

[Martins Francis]

Hi BP family,

This is my first post on BP, so please bear with me if am not clear enough but I do my best.

I am looking to buy my first property and I want to do right as much as possible but I am torn between buying 4 unit in Baltimore or a duplex/SF in dc. I work in DC but live in Bethesda,MD which is basically 20mins away from DC. My maximum budget is $650k. After speaking with an agent and explaining my house hacking strategy to him he explained that Baltimore will be the best option for my price range if I want to get a 4-unit where I can live in one and rent out the 3. In DC I wouldn't be able to get good properties in good locations for that price except I want to settle for a duplex or a large SF which would not result in cashflow. I am not opposed to Baltimore but I have heard lot of unexciting stuff about that market and would not want to experiment.

As such I would appreciate suggestions/counsel/advice from bp experts who are familiar with both markets and help guide me.

I look forward to hearing your thoughts!!

Thanks.

[Russell Brazil]

Well DC and Baltimore is a tale of two cities. Do not let their proximity make you think they are similar markets. DC is amongst the lowest risk markets in the country, while Baltimore is amongst the highest risk markets in the entire country. So make sure whatever way you go, it fits your risk tolerance.