Choosing a starting location

10 Replies | Baltimore, Maryland

Hello,

I am new to investing and have been trying to get a handle on the Baltimore market. Would anyone be able to share information regarding the Garwyn Oaks area? I found a property in that area. I know there are better locations like Canton, Federal Hill, etc. But based on my budget, I don't think I can afford it. I called the police precinct to get info on the neighborhood but got nothing. I also called a few property management companies but they don't service that area and don't want to provide info without me actually having the property. I'm wondering if that's a basic red flag or if property managers prefer to remain in the city. How am I supposed to know what a good location is? The block is nice. I spoke to a neighbor. There are no vacants. Yet I am still hesitant. Are there any tricks of the trade??? Any advice would be appreciated ; ) 

@Jade N. welcome to BP Jade.

Contact more property managers that work specifically within the city and have a thorough understanding of the areas you're looking to invest in. They're able to provide rent rates, and additional information regarding the neighborhood/area/block

Working with a real estate agent that also is familiar with the city at the neighborhood.

Since you're local, highly recommend driving for dollars. Visit the area during different days and times. Baltimore is block by block meaning some streets are much better than others.

I grew up around that area, like most of Baltimore l, it depends on what block you are talking about. In general, that area - which is outside of the Gwynns Falls community, is one of the better areas in Baltimore City. Historically it was a working middle class black neighborhood that boasted large single family homes. But today, many areas have become rundown and dilapidated. I personally even thought of buying a large single family and rehabbing it myself.

if there red flags, there may be a reason, drive the area after dark; but be careful!

ask yourself - if you buy it today, how much more could you sell it for tomorrow? 

if you don't like the answer - find something else.

you need to control real if you're going to profit in this business. I like in and out - SHOW ME THE PROFIT without lots of stress.