Starting out in baltimore

[Molly Krief]

Hello everyone

I'm really new here, and new to real estate. I currently live in Israel and plan to move to Baltimore with my husband and baby in two months. I have a lot off family there.

I'm very eager to get into real estate, and I am doing all the homework.

I'm currently at a stage where I am planning what to do once we get there. So we don't waste time there and eat throw are money in rent.

The goal is to first find a Multi Family home where we can live, and rent. The intention is also to renovate the apartments while we live there, (my husband is a contractor in Israel) so when the time coms we can sell it for a profit.

Once we do that, we want to work primarily with fix and Flip.

But I am in a dilemma, and I would be happy if someone here can help me with this. Should I invest in a place that is not the best aria, and that is not good shape (after all, we have the ability to remodel ourselves), and that its price will be lower. Or we should not risk with complex projects right from the start, and actually get something in a little better for a more expensive price?

[Steven Trumpet]

Fair question. If it was me, i'd choose a good area so that once you're done renovating & its time to move, you'll have no problem finding tenants that "want" to live there. I found this out the hard way when I bought my first property in Baltimore. It cash flowed really well but when the tenant left, I couldn't find anyone for months to rent the place. 

A cliche that comes to mind is: find the worst house in the best neighborhood. 

Good luck!!

Steven