Kid at School in Balt 5 years - RE investment opportunities?
Hi, our son is study at Peabody Conservatory just starting a 5 year program. We are not seasoned investors but have read a bit. I am looking for advice from members regarding the wisdom or foolishness of possibly buying a multi-unit townhouse or single family townhouse somewhere near the Mt Vernon neighborhood. He would share with friends/classmates. Only 1 or2 properties I've looked at so far have passed the screening '1% rule'. We are Californians with excellent credit and decent access to cash for downpayment/closing etc. What are folks in the know expecting from this market? Certainly Bay Area where we live looks to possibly be late cycle - I am not sure if that holds in Baltimore. Either general or specific advice would be much appreciated. Many thanks.