Any recommended areas for a BRRRR in Baltimore??

Question

Hey,

I'm a Calgary local, investing in the US looking to network with investors interested in learning more about US real estate. Currently i'm flipping properties, buying and selling rental properties, and wholesaling deals in Memphis Tennessee, New Jersey, and Dayton Ohio. Please let me know if you are interested in meeting up over coffee and networking.

Thanks!

Paul Gallagher · Answer

@Harrison Montgomery my brother lives in DC and we are investing together and we thought Baltimore might be at a cheaper price range than DC. No final decisions made yet though. Thanks for the the advice Harrison. Much appreciated and best of luck to you.

Tim Jacob · Answer

You can do well in either the city or county.  I the city I would try to get something with 4 beds and 2 full baths to rent out as s room rental.  In the county a decent family rental is often more obtainable.  They both have there advantages.  I will say for room rentals I dont think college rentals are all that bad even these days.  You can still find decent people.  The areas going to hell now are the low income areas where too many tenants stopped paying as soon as they realized they didnt have to.

Chris Mcdonald · Answer

@Paul Gallagher

Bmore is hot or miss, street by street. I prefer the counties nearby. If you ever want to walk any properties I’m a local agent

Alan C. · Answer

Yes, Baltimore prices appears very attractive when compared to expensive places like Boston, New York and D.C. If you search for threads about Baltimore, you will read about the potential pitfalls. Baltimore City prices vary wildly on a block-by-block basis. It's easy to make an expensive mistake if you don't get to know the area or partner with someone experienced with the city comps.

I'm a Baltimore native feel free to contact me.

Harrison Montgomery · Answer

Hey Paul,

If you don't mind me asking, what draws you to Baltimore? I am actually from Baltimore but looking to invest in Calgary so I thought it was kind of ironic. Baltimore has changed a lot while Ive been here and I seem to meet lots of investors interested in the area, I just don't really see the draw when the city is very small and always losing population. Regardless, I hope it turns into a great opportunity for you, if I can be of any help let me know. I would focus your attention near Towson or central downtown, these areas are being gentrified while the rest of the city seems to be abandoned, of course Tim probably has better knowledge and advice than me though!

Paul Gallagher · Answer

@Tim Jacob that's great thanks very much.

Tim Jacob · Answer

Hi Paul,

In the city try northeast,  the inner harbor, or a north central strip from fed hill up towards Towson.  The suburbs known as the county has a lot of good areas.  For rentals I would stay closer to the city if you are going to the county.