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Updated almost 8 years ago,
Baltimore City Investor: HELP!!!How Do I Know Where to Invest???
Hey everyone!
I'm Jasmine and I've got a really big goal to purchase my first triplex in Baltimore City in the next...oh 96 days. My strategy is to use private or hard money to purchase it and use the B.R.R.R.R method to cash out and pool that equity into my next deal. I also plan on house-hacking the unit and renting out the other two units.
My problem can be summed up in one question: How the heck do I do accurate, thorough market research to determine which neighborhoods/zipcodes to invest in????
Baltimore is a zipcode-by-zipcode, block-by-block, neighborhood-by-neighborhood area and I'm overwhelmed!!!!
Note: I am currently using Ken McElroy 3 step research process....if that rings a bell to anyone.
Can anyone help me by providing their techniques of market analysis? I've already started by researching vacancy rates, housing prices and employment of different neighborhoods. Am I on the right track?! (I'm tempted to go neighborhood by neighborhood and "eliminate" those I don't want to even touch)
Heeeeeeeeeeeeeeeeeelp!!!!