Is this a good deal for my first property?

11 Replies

Aweful deal.  Are the rents way below market?  They are very low for that kind of purchase price.  Also, FYI, there’s no way the insurance is that low on a rental property.

Maybe my perspective is skewed from Baltimore's exorbitant rates, but the taxes seem awfully low for a 525k sale price - what is the property assessed at? Also, is this a reposition play or are you buying mostly turn key? What is the unit mix - 1BR/2BR/3BR etc.? 

@Matthew Parkhurst Well The income is terrible for a property that is over half a million dollars . cash flow Is non existent. Your personal income isn’t very good either to be going into such a deal like this . Any bank would laugh at you at 20 years old and 50k salary trying to get a 550k property !