Investing in baltimore?

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Investing in baltimore?

Haseeb Ahsan
Silver Spring, MD · Member since 2017 · 2 posts · 0 votes

Hi I'm trying to add another property this year in baltimore county and rent it out. I've seen a few in Brooklyn Md and Dundalk. Any experience with those areas? what's the current rent range? 

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Nicole A.Pro Member
Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
9y

Another thing to note is laws and requirements can differ in Baltimore City and the County. I have some properties in Dundalk and it's easy to find a cashflowing property, especially with all the 2 and 3 unit properties in the area. What you need, though, is to be able to pick good tenants because Dundalk is full of bad tenants if you're the type to just accept anyone. Also, lots of tenants in Dundalk may not have checking accounts or be very tech savvy, so don't expect a whole lot of them to pay rent via online methods.

All my units are 2 bedrooms/1 bath apartments and their rents include water. My rents for 2 bedroom apartments go anywhere from $810 - $835 per month. I see 1 bedroom apartments in Dundalk typically going for around $700/month.

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  • Saji Ijiyemi
    Woodstock, MD · Member since 2016 · 44 posts · 14 votes
    7y

    Anyone have any knowledge about Ashland street, Eden in Old Town neighborhood in Baltimore city?

    0Reply
  • Joe Giusto II
    Investor · Linthicum Heights, MD · Member since 2017 · 8 posts · 6 votes
    7y

    Most of my properties are in Curtis Bay / Brooklyn, but I agree with Andrew that it is not for the faint of heart. 

    2Reply
  • Tyler Dalton
    Member since 2018 · 1 post · 0 votes
    7y

    @mattschelberg I am looking to invest in Dundalk and curious what your experiences have been thus far? Based on my research it seems it's a solid blue collar area with steady rent rates. 

    0Reply
  • Asif Ahmed
    Silver Spring, MD · Member since 2016 · 24 posts · 8 votes
    7y

    @Joe Giusto II I see a lot of people here are saying Brooklyn is uninvestable but it sounds like you're making it work. What are your biggest challenges investing there? Why did you choose to invest there? With a good Property Management firm, would you say those problems can be ameliorated? 

    There's a particular property there that appears like it would cash flow well, and I'm trying to decide if the risks outweigh the potential. 

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  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    7y

    I could never understand  why new investors are drawn to Baltimore . Sure the prices can be low on a buy . Buy the taxes are high , permits are a pain , appreciation sucks , tenants are not the greatest . The new inspection laws are a pain . There are too many houses for rent in the city . Too many landlords fighting for section 8 tenants . 

    I know a couple guys making bank on city properties , but its a full time job , and full time headache .

    Me , I like county properties , Glen Burnie , Pasadena , Severn . Lower taxes , better schools , better tenant pool . I have bought right and all mine cash flow 1% or greater 

    4Reply
  • Joe Giusto II
    Investor · Linthicum Heights, MD · Member since 2017 · 8 posts · 6 votes
    7y

    @Asif, the biggest challenge is finding quality tenants.  I chose to invest there because I am familiar with the area and the low cost of entry. A good property manager would help, but I manage my own.  

    2Reply
  • Vic Vega
    Halethorpe, MD · Member since 2016 · 77 posts · 21 votes
    7y

    I have a property in Brooklyn (City side) that I was all in for 56k. After a cash out refi was done I now have 6k tied up in the property out of my pocket and it cash flows $750 a month in net profit. Those numbers are amazing, but that is a bit of an exception in Brooklyn, I got lucky. You can certainly invest in Brooklyn but heavy due diligence is required and I can't think if many row homes in that area I'd want to invest any more than 60k total at the very most. Preferably less than that. 

    2Reply
  • Bryce Gubler
    Investor · Oakland · Member since 2019 · 16 posts · 3 votes
    7y

    I'm looking at to invest in property (Row Home) in Belair-Edison and was hoping to get some insight about the area?  Anyone have any experience in this neighborhood?  Thanks!

    0Reply
  • Mike Shahi
    Washington, DC · Member since 2017 · 54 posts · 25 votes
    6y

    Bumping this back up- hearing good things about the Remington neighborhood- thoughts?

    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Mike Shahi:

    Bumping this back up- hearing good things about the Remington neighborhood- thoughts?

    With a name that good it has to be a homerun! 

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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