Updated over 4 years ago on . Most recent reply
Is Baltimore still a good place to purchase?
GoodMorning BP community,
I am a newbie investor looking to buy and hold in Baltimore, MD. My question is, is anyone actively purchasing in Baltimore if so how’s it going? Is it still worth it? I know the market is pretty low in Baltimore and that it’s also a block by block area so it all depends. Any advice on moving forward in Baltimore would be extremely helpful!
-Alex
Most Popular Reply
Baltimore has good and lower grade areas like other large cities. A good way to figure that is arv. In general over 200k arv for a place with 2 beds or more puts you in an area where you wont have to worry. 150k arv and you are still in decent areas but expenses go up. 100k arv it keeps going down. At less than 100k you are asking for trouble and a lot of the people with problems up here went that route. You can't find decent property management in places with the arv under 100k. There is a lot more to it but these are good starter numbers. If you keep in mind you get what you pay for, actually visit the site a few times in the day before buying, and screen tenants, contractors, and others thoroughly you should be alright.