Baltimore Duplex Due Dilligence

[Elliot Jones]

I'm in Baltimore, MD and I'm looking at getting a 2-4plex as a first multi unit property. I really want to do this right and I'm not sure of all the things I should look into before deciding to pull the trigger. Anyone with insight would be super helpful.

[Sebastian E.]

Hey Elliot Jones besides all of the things around making sure you find a place in an area that has some possibility for price appreciation, I would caution to be very conservative on your projected incomes and expenses.

Pencil it out assuming 10% capex and 10% vacancy plus all of your normal expenses including taxes, insurance, general maintenance, utilities, water/sewer etc...

On a tri if the income for the 2 covers all your expenses including mortgage and taxes and you can live in the 3rd then I would consider that to be a good deal.

These deals exist in baltimore but you might have trouble finding something turnkey in a place you want to live so maybe check for something with some deferred maintenance that you can force some appreciation on.
Good luck!

Seb