Newbie Investor in Maryland
@Adeiza Jatto welcome to BP. There are a ton of investors here from the greater DC/Baltimore market to network with.
I am curious to why you want to start with Multi family.
Welcome Adeiza Jatto
Multi- Unit market getting saturated, so if you find one with a okay price tag on it you have to jump.
I like multis as well, let me know of you have any questions.
Good Luck
Ned Carey Hey Ned! Thanks for the welcome. I wanted to start with multi-family home because of the scalability of it. Also, I wanted that to be my niche. My uncle is one of my mentors and he has a few multi-families in the Baltimore area. But, being that he is currently in Med-school I want to get other people's take on this market.
Ozzy Sirimsi Wow, that's good to know. I know there are pretty good opportunities for single family properties. Do you have majority single family properties in Baltimore (personally)?
I own a condo, and rest of the houses are dublex and one triplex.
Condo is my first and the worst investment, all the others are producing very good cash flow.
I like multi-unit but it is numbers game, so as long as numbers are good, all same.
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@Adeiza Jatto the reason I ask is it seems everyone assumes multi unit will somehow be better. As Ozzi says it is about the numbers. In Baltimore city I believe, in today's market, you can get better cash flow and a better quality of building going with row houses.
Having said that I think our favorite property is our only multi unit. It is a two unit.
Ned Carey That's makes perfect sense. The only conecern I had with row houses in the city was finding quality tenants and good schools. How do you get around that?
@Adeiza Jatto well we have not had problems finding good tenants.
Why would row houses be any different in this regard? I suspect it will be easier to get good tenant doe a SFH even if it is a row house, than in an apt.
Ned Carey I see exactly what you're saying now. I will take that into account. Really appreciate the feedback. Maybe you'd be free over the phone to speak more on this in the future?