Buying in Baltimore and Future Rental Options

[Peter Bailey]

Hi All,

New here and just looking for some guidance.  I am looking to buy my first home.  I am thinking Baltimore, MD as I like the area and currently rent around DC.  I'm thinking the usual "nice" neighborhoods, Canton, Fells Point, Federal Hill etc...  I am thinking I will buy my first place, live in it for a year or so and then convert it to a rental.  Rinse and repeat.  Does anyone with experience in Baltimore think this is a viable strategy?  Ultimately my goal is cash flow and have an early goal to have 5 properties or so in the next 7-10 years. 

[Joe Norman]

Welcome to Bigger Pockets, and to Baltimore! I think this is a great plan, frankly I wish I had done it before I started a family. Using Owner Occupant financing is the best way to acquire rentals - you'll never find better leverage.

While this is generally a seller's market in the region, there has been some stagnation in the real estate market around the Harbor, in particular in Canton, which is showing up as higher DOM. That makes these great neighborhoods to target as a buyer - great plan! Feel free to send me a message if you want to connect.