Investing in Baltimore

[James Claiborne]

Hello BP,

I am from Baltimore, MD and looking to buy and rent out properties in MD.

I would appreciate it if i could get some feed back from other investors on what areas I should be focusing to buy and hold. I am interested in buying a property for under 50k and putting some money into it to fix it.

Also if there are other people renting out there properties in the Baltimore area what kind of things do you watch out for when looking at buying?

Also, should i be talking to an investor friendly agent. If so, can you guys recommend few agents in Bmore.

Thanks again,
James

[Nicole A.]

@James Claiborne Finding a property that needs work around $50K is possible. But stay in a fairly decent area. Lots of strong C-class neighborhoods to explore.

Know that all rental properties built before 1978 (which is most in B'more area) are required to have a lead-safe/lead-free certificate. Read up on those rules. If you're doing work/rehab, I say shoot for getting your lead-free cert. That way you never have to get a lead inspection again.

Look for a decent area with few board-ups. You want a place where there will be demand to rent! 

I'm not familiar with Baltimore City neighborhoods, but I can say that in Baltimore County, you could check out Dundalk, Middle River, and places like that.

Read up on Maryland/Baltimore rental laws now. Here's a couple very useful links:

http://www.peoples-law.org/cat/housing/landlordten...

http://www.courts.state.md.us/legalhelp/selfhelpce...