Good afternoon BP family!!
I’ve been doing some reading, listening to podcasts and talking to current investors. I want to buy my first investment property (buy and hold), however I live beautiful northern Virginia. The market is pretty expensive here. I’ve been looking at the Baltimore area. Has anyone had any luck investing there? Any suggestions or info would be greatly appreciated. Thank you!!!!
If you are looking for appreciation you may want purchase near Major institutions, such as Hospitals, Colleges, or Business.
Definitely great advice! Thank you!!
@Tyrone Perry I actively invest in Baltimore. I would suggest you learn the neighborhoods and streets. Many areas are block by block neighborhoods so you can't assume something in the same zip code or sometimes on the same street a couple blocks down is a true comp. Therefore, the easiest thing to do is concentrate on a central location you'd like to invest in and become an expert in that neighborhood. Also, I would recommend you begin to form a solid team because you don't live close enough to Baltimore to run back and forth for small items such as showing a rental property, maintenance issues, and sometimes even having the ability to check out new off-market or MLS properties when they first become available.
@Tyrone Perry yes there are lots of successful investors in Baltimore. There is a big community of investors here on BP and at the local investing groups.
As @Tiffany Spann said it can change block by block in Baltimore. However it is no secret. All you have to do is drive from one block to the next to see why values change so quickly.
Thank you! I’m sure I’m like most newbies. Waiting for the “perfect” first property, even though I know there’s no such thing.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you