RE Investment Near Baltimore?
Hi, we are offered to move to Baltimore for some job opportinuties. We are still debating if we should go. One big factor is whether the RE investment market is good for newbies like us. We are currenlty in Columbus Ohio, we think it's a modest market so at least we can afford to buy rentals, or find sub2 deals. But anyone from that area can give us some idea what is like over there? I know townhouses are in 250-300k range. but the appreciation rate is around 10-20%. so if we are just starting, what should we expect?
thanks.
"It's a seller's market with good price appreciation"
Baltimore in the month of July: 100 homes sold at an average sales price of $276,900, with an average 33 days on the market.
OverAnalyzer,
Baltimore is a great market. However, you have to know your blocks - not your neighborhoods. I actively invest in Baltimore. You can buy properties for very little, and the market is appreciating rapidly.
Everywhere is a good market. You just need to develop stategies that work for you and work for the market.
Thanks all!
Bnorton - what is the best strategy in that market? if it's a seller's market, how do you find bargains? Do most investors there profit from fix-up? We're more into lease option/ rental. Do you think with the high price, we can sustain profit by doing rental?
thanks.
I do a combination of wholesaling, rehabbing, and buy and hold. All can be done successfully right now.