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Updated about 8 years ago,

User Stats

6
Posts
2
Votes
Jared Thomson
  • Arlington, VA
2
Votes |
6
Posts

Baltimore County Owner Occupied Investment

Jared Thomson
  • Arlington, VA
Posted

I have been following bigger pockets for about 2 years, and I have finally decided to take the plunge into investing thanks in big part to the stories I read on here!

I recently took a job in Columbia, MD and I am looking for a place to move into for a year, fix up and rent out the additional bedrooms while I stay until I purchase my next home in another year. My goal is for passive income into retirement, so cash flow > appreciation potential for this purchase. I am uncertain if I should go into multifamily or SFH homes. I do not care about location as long as it is within 45 minutes drive to work.

I have family in Little Italy, and thoroughly enjoy the city so I plan on being here for the long haul. I am pre approved up to $400k and have $40k set aside for potential renovations.  I would love your advice on what I see as two options.

Baltimore County (SFH)

https://www.redfin.com/MD/Woodlawn/1815-Colonial-R...

Type: SFH - 3/1

Address: 1815 Colonial RdBaltimore, MD 21207

Price: $89,900

Mortgage $800 w/3.5% down

Rental potential for the entire home: $1,200 (based on rentometer)

Baltimore City (multifamily)

https://www.redfin.com/MD/Baltimore/2807-Guilford-Ave-21218/home/10849865

Type: Multifamily - 3 Units (2-2bed, 1-1bed in basement that needs permitting *potential red flag*)

Address: 2807 Guilford Ave Baltimore, MD 21218

Price: $199k

Mortgage: $1,850 w/3.5% down

Rental income potential with me living in the basement: $2,000 (Based on quick Craigslist research and the listing info)

I appreciate the help!!

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