Am I Thinking Too Small

[Brian Bennett]

I'm a first time buyer currently beginning the NACA process. I'm currently looking across all your usual listing platforms to see what's out there. My goal is to find a distressed property and fix it up to build equity and then leverage that equity into new properties. I'd love a 4 unit for obvious reasons but this purchase isn't emotional for me. It's all numbers. I'm stuck between continuing the NACA route to BRRRR a property or investing in cities like Baltimore where properties are inexpensive and building out a rental portfolio with HMLs. The issue I'm running into, probably from lack of experience, is that I can't seem to find comps in Baltimore because a lot of those homes don't sell after they're repaired. If they do, it's very few and not enough that I'd base a move solely off that number. I want to make sure the numbers from an HML work if I went that route but ARV is a big part of what makes it successful because you have to get a bank to buy that debt. Anybody out there knowledge of Baltimore or similar markets and how they got around this or anybody I can personally contact to pick their brain?

[Ozzy Sirimsi]

what area in Baltimore you are looking where you cannot find comps??

It has been an active market, so you should be able to find it if you have resources.

Let me know the address, I can try to help you.