Landlording in "rough' areas of a city

[Jon Carcone]

Hi All,

I am looking at some rental properties in Baltimore. Specifically, there is a 3 unit with a potential for a 4th currently fully rented at $2100/mo and asking 140k for it.

What is attractive is that for another 10-15k you can add another unit in the basement and parking to get another 700/mo for a total of 2800/mo for a total price of 140-150.

The reason this deal exists is because it's a pretty rough area of baltimore. Some boarded up homes on the block-- stuff like that. I would hire a property management company to manage the property.

Has anyone had experience landlording (either personally or through a property management company) in rough areas of a city?

Thanks, Jon

[Rich Weese]

I would never reccommend this to a newbie, or an absentee owner. It will be hard to have a good exitstrategy. Many don't want anything to do with boarded up druggie areas. I'm one of those. There are enuff problems with renters without pileing on more negatives, imo. Rich in Dallas.