Wrong time for a first property house hack in NE Baltimore?

[Keir Johnson]

Long time lurker on here, finally getting motivated to make moves.  I almost bought back in 2019 but held off, endured through Covid now emerging to see the lay of the land.  I know that property values are way up and if you buy a fixer upper materials and labor are in short supply.  That being said, anyone familiar with NE Baltimore specifically from Lauraville through Hamilton and Parkville?  Are all the 2-4 unit places still going for way over asking, should I keep waiting?  

Looking to connect with people in the same position I am or more experienced investors, thanks for your input.    

[Joe Norman]

To your general question of "should I buy now or wait" I would say don't wait. The best time to buy real estate is 30 years ago, the second best time to buy real estate is now. Yes its a sellers market, yes values are appreciating rapidly, but this is not 2006 when sub prime loans were artificially propping up values. I tell my clients that I put my money where my mouth is on this one - I'm still purchasing investment properties through covid and this market, in addition to a new primary residence.

To your more specific question about the multi-unit market in Lauraville, the pickings are slim but they are out there. The ones that are easy to show and priced well do sell quickly, but the "easy to show" part isn't always a given with tenant occupied properties.

Shoot me a PM if you want to connect and talk more about current inventory.