New Investor - Area Just South of Baltimore

3 Replies

New potential investor here and I've been strongly considering adding real estate to my investment portfolio. My strategy would be buy and long-term hold, targeting cash flow as my top priority right now. My preference would be turnkey or almost turnkey properties. I'm looking for insight into the Brooklyn Park, Halethorpe, Arbutus areas. These areas interest me since there seem to be solid inventory of $75K - $125K rowhomes with that would meet cashflow criteria assuming I put 20% down with a traditional loan. I grew up in Anne Arundel county and am somewhat familiar with Brooklyn Park, which I remember as a blue collar type of town.

Has anyone had any success around here or have any insight? Since the numbers on the surface seem pretty good, I guess my main concerns right now would be if I could really get the $1,200 to $1,600 rent that the Redfins, Trulias, and Zillows detail, the quality/quantity of the rental pool, and if there's any highly recommended PMs in the area. 

If I determine that REI is for me I'm thinking I could buy one or two of these caliber of homes a year to build up a portfolio and maybe be less dependent on my day job in 10 or so years. Appreciate any and all insight.

I think you're purchase price target is a little low - you can get turn key homes in that price range in some city neighborhoods, but not as easily in AA County. Thats not to say your plan is bad though, those are great neighborhoods to be looking for cashflow rentals. Good luck!

@Matt Duffner

Hey Matt, I'm an agent in Halethorpe and i agree your price point is a tad low. In Halethorpe row homes are $220ish if you cross into 21229 they come down to $150ish area ARV.

Network with some wholesalers for value add. If you ever want to see anything on MLS give me a shout

Thank you both for the insight and reality check. Looks like most of the decent looking ~$125K move-in or almost move-in ready homes were in the 21225, 21227, and 21229 areas. I appreciate these forums and look forward to learning much more on REI here at BP.