What to Do? Income to Invest in Baltimore

[Brian Lewis]

Good Day BP!  I almost feel silly asking this, but here goes...

I will be moving overseas very soon & my company is picking up the tab on the new place.  Due to that & a couple other factors, i will have some extra cash to be used in our buy & hold investment strategy in Baltimore.  I am only interested in turnkey (or just carpet & paint kinda places) primarily because we will be really far away & just haven't built a network of trusted professionals.

Right now, here are the numbers:

2br SFH - $600/mo cash flow - 14% cap

3br SFH - $550/mo cash flow - 12.5% cap

$6k/mo allocated for ongoing RE growth.

Knowing what you all do, what would you recommend for someone in my shoes?

thx!

Brian

[Tim Jacob]

Hi Brian, I wouldn't buy under 100k arv places at all and for something stable go upto mid 100s in the Baltimore area. That way you can get reliable property management and expenses won't eat you up. I'd try to get something outdated with good systems like no old galvanized pipe or other stuff that will not need immediate replacement. New stuff is going to up the price tag. Are your current properties in the suburbs or the city? What is your plans with pm?