Out of state investing

[Justin Hayden]

Hi,

I want to invest out of state in Baltimore, MD.

I currently live in DC, but I plan to drive around the Baltimore, MD area to see what areas I would like invest in.

Does anyone have any suggestions on some good neighborhoods, or any advice about investing in Baltimore! Anything you give will be greatly appreciated!

Thanks!

[Ned Carey]

@Justin Hayden yes there is a lot of money to be made in Baltimore but there is also a lot of risk if you don't understand it.

It is not that hard to understand but you have to visit there.  It can be literally Block by Block. Values can change very quickly and Google street view won't always help you determine the difference.  If you drive the city you can see why one block is much more valuable than the next.

I suggest you check out Belair Edison. This is a decent level rental neighborhood and a reasonable number of homeowners. In good markets like now, lots of properties get renovated there.

Now the point of checking Belair Edison out is not that I suggest you buy there. That will depend on your budget goals, risk tolerance etc. What it will do is give you a good reference point. Any agent or experienced investors will know exactly what you mean if you say "I am interested in a neighborhood like Belair Edison."

You might say "I would be comfortable in a cheaper neighborhood".  Or you might say "I want to be in a level above that."  Either way it is a good reference point.

Personally I like to be in neighborhoods that are about $120k -$175K. A typical 3 bedroom might rent for $1300-$1400.   You can get $1200-1300 rent in much cheaper neighborhoods but with more risk.

There is quite a large community of Baltimore investors here to network with.