First time investment

[Enoc Flores Morales]

Hello bp family, I am thinking of investing in a SFH in Baltimore to live and rent. I will pay 20% down payment. The property is approximately $ 170,000 but it needs renovations my question is, would a singular house be bad mov, or should I invest in a townhouse instead?

[Richard Carlton]

@Enoc Flores Morales My first question is why Baltimore?  Second which area of Baltimore?  What do you know about Baltimore?  I do not mean to sound bad or demeaning to you but you need to be prepared with knowledge as well as with a team of licensed contractors that will pull all necessary permits to do anything in Baltimore.  Baltimore has ground rent, so you do not own the land on which your building sits.  Depending on the area you can easily be throwing good money at a property that you will never get a return from.  Due Diligence is key!  If you can secure a multifamily instead of a standard row house that would be advisable but that can be challenging to locate.  I have friends that have been burned by location, lack of quality contractors that follow the rules in Baltimore, and lost money.  After doing my own homework as well as seeing documented problems from others that I know, I will not look at Baltimore as an investment opportunity as there are other areas in Maryland to find better returns with more peace of mind and security.