Baltimore Investors -- Best 'hoods/'burbs for multi-unit househacking for SWF

[Julie Hassett]

Hello BP community!

I'm moving from Los Angeles to Baltimore for business and I want to turn this great opportunity into my FIRST real estate investment opportunity as well.

If you're active in the area, I'd love to hear from you on what neighborhoods or suburbs I should be looking at.

I am a single, white, 35 yo female looking for a safe neighborhood where I can live in one unit and rent out two or three while I live in the other. I have dogs and cats and would love to have a yard, which is why I'm open to the surrounding areas as well. I work from home and will only need to commute to Mt. Vernon max once a week. 

So, the breakdown:

• Duplex or Triplex
• Within an hour of Mt. Vernon
• Budget up to $250K
• Safe, but doesn't have to be as clean and pristine as Canton or Fells Point

So far I have heard that Patterson Park, Hampden and Mt. Washington might be suitable candidates. If you have any other suggestions, I'm all ears!

I'm going to be in town exploring real estate all day on Saturday, April 11 if anyone wants to join me!

Thanks all. :)

--Julie

[Joe Norman]

Julie,

Congratulations on your move to Charm City!  I think you'll quickly find that its not all drugs and murder like its sometimes made out to be.  Its an amazing city with so many unique neighborhoods, suburbs - and Opportunity!

The Harford Rd corridor (Lauraville, Hamilton, Parkville) is my favorite part of the city to invest in. The large homes and lots in the area is desirable for 30-somethings who want to stay in the city but have a more "suburban" feel then some of the downtown neighborhoods. There is also a good stock of large distressed homes lend themselves well to SFH-to-appartment conversions if you're up for a project.

Hamden is another neighborhood that sees a lot demand but still hasn't become over-gentrified to the point of making it nearly impossible to find investor friendly opportunities.

My final recommendation is Reservoir Hill. Its got a more urban feel than the Harford Rd corridor, but is similar in that there are a lot of large, distressed homes that lend themselves to SFH-appartment conversions. The neighborhood is undergoing a revival due to its super convenient, central location and amazing architecture so there is a lot of potential for appreciation in the area for a buy-and-hold.

You will definitely want to start with finding a GOOD realtor.  There are a lot of crappy, fly-by-night agents in Maryland and a handful of really top notch guys that stand out.  I'd be happy to refer a few if you want to send me a private message.

Good luck and welcome to our great state!

Joe