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Old 10-27-2014, 05:19 PM
 
1 posts, read 911 times
Reputation: 10

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Hello
I have been visiting this site for awhile and now I am finally jumping in.I am looking to invest in an urban area where I can rehab a building and get tenants to help me pay for my mortgage.I currently live in the SF Bay Area which is way too expensive. I own a SFR in Oakland which I would sell to finance this.
I lived in NYC for a decade and have family in the East Coast that I would love to be closer to. I am in my mid 50s and want an artistic, friendly , inexpensive place to put down roots. I am thinking of Baltimore . What other cities might be good, and where in Baltimore might I settle. Thanks
Terri
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Old 10-27-2014, 05:46 PM
 
Location: Living rent free in your head
42,850 posts, read 26,268,189 times
Reputation: 34058
Reno has a lot large number of rental properties and rents are typically quite low, probably not the best place to invest in rental property but there is a very knowledgeable realtor on this forum who might read this and give you better advise than I can.
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Old 10-27-2014, 08:30 PM
 
340 posts, read 664,773 times
Reputation: 374
Quote:
Originally Posted by tsarappo View Post
Hello
I have been visiting this site for awhile and now I am finally jumping in.I am looking to invest in an urban area where I can rehab a building and get tenants to help me pay for my mortgage.I currently live in the SF Bay Area which is way too expensive. I own a SFR in Oakland which I would sell to finance this.
I lived in NYC for a decade and have family in the East Coast that I would love to be closer to. I am in my mid 50s and want an artistic, friendly , inexpensive place to put down roots. I am thinking of Baltimore . What other cities might be good, and where in Baltimore might I settle. Thanks
Terri

OP, if you are asking about where to settle in Baltimore and want to be closer to your family on the East Coast, I suggest posting your question in the Baltimore forum instead of the Reno forum.
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Old 11-01-2014, 08:50 PM
 
1,310 posts, read 1,511,287 times
Reputation: 811
Quote:
Originally Posted by tsarappo View Post
Hello
I have been visiting this site for awhile and now I am finally jumping in.I am looking to invest in an urban area where I can rehab a building and get tenants to help me pay for my mortgage.I currently live in the SF Bay Area which is way too expensive. I own a SFR in Oakland which I would sell to finance this.
I lived in NYC for a decade and have family in the East Coast that I would love to be closer to. I am in my mid 50s and want an artistic, friendly , inexpensive place to put down roots. I am thinking of Baltimore . What other cities might be good, and where in Baltimore might I settle. Thanks
Terri
Buying in Baltimore is tricky right now. There are 7,000 units in mid/large apartment buildings in the pipeline right now. That may eventually affect pricing at the upper end of the market. Overall, rental housing in Baltimore is pretty hot right now. I think there are good opportunities to buy deteriorated 5 -10 unit properties in improving neighborhoods but you would need strong construction skills to get them up to level that renters expect these days. If you have the skills and capital to handle that, let me know.
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