Need advice.
New to REI in baltimore area. Thinking of purchasing a RowHouse in NW area, already Rehab. What is the FMV for a 3 bdroom, 1 bath w/ partial finished basement. Is the area fare for investing. If purchase whats is the rent range in this area for 3/1 rowhouse?
Hi gunny,
I myself am looking into the baltimore market for the most part because there is a lot of rehabing done which is increasing the market value of the properties. Anyway, all of the questions that you have can be answered by a realtor and if you are thinking of investing, you should defenetely get one. He or She will be able to give you the FMV of the property that you are looking at give you comps, along with some other information. Hope this helps!
It did, and thanks.
Yeah I spoke to a friend there yesterday. He said the whole city is under construction. He bought 2 fixers near Key Hwy about 5-6 yrs ago for under 100k which are now both worth about 300k. Not much more opportunity in that neighborhood I guess.
Whats going on in NW, could you share why you’re focusing there?
gunny,
Most of the row houses in that area rent for about $500 to $600 but if you go sec 8, they will pay you about $700 to $800.
Mike in cali
I am interested in cash flow properties and they have a lot of them in that area.
Hi gunny,
I started investing in Baltimore August 2004.
I have 3 properties one on the east side and 2 on the west around fulton ave ?
Where are you thinking of buying u property .
Thanks
susan
What are the neighborhoods like where you guys are investing. Do you have to go into the more sketchy areas to get cashflow?
Thanks Guys, for the feedback. The NW side just happens to be where I’ll be buying my first property.
Baltimore City is new to me and locking for this kind of advice from investor who know the area. I’m buying from a friend who has just relocated to Florida and needs to get rid of props. This one will be a rental, probably sect 8.
Again thanks