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?