Baltimore Real Estate Market for Rentals

[Keenan Rusk]

Hey everyone!

I'm a newbie to BP and real estate investing in general. I recently purchased The Book on Rental Property Investing which drew me to the forums and podcasts. Once I've gained more knowledge, my goal is to purchase my first rental property in Baltimore City by the end of this year (SFH or Townhome strategy, as there aren't many multifamily units here).

For the more experienced investors in this area, how would you rate the rental market in the city and are there any areas, counties that would favor any of those strategies? Most of what I've read has cited Hampden, Dundalk, Patterson Park and maybe Charles Village. My rationale for looking into Hampden and Charles Village includes access to public transportation and proximity to JHU. I'm also curious to hear what you all think is a good amount of savings to have before moving forward with my purchase.

Thanks!

Keenan

[Rich Baer]

@Keenan Rusk

      A Hampden 2 BR alley street rental property will cost you $60,000. These homes can be difficult to find good tenants because of the non-parking. A non-alley street rental property will cost you $125,000 plus. A Charles Village rental property will cost you $125,000 plus. Both areas will be difficult to make cash flow. My advice would be to try a different and cheaper area first.

     Rich Baer, Esq.