The answer really is, "It depends". I work with a lot of investors and when I start with a new investor I have a series of questions I ask to find out what your "pain" threshold is. Whether you want to rehab and hold, rehab and resell, if you want a property with tenants already in place, if you want vacant and find your own tenants. How much return on investment do you need or want? What is realistic depending on the property, are you looking for long term growth, whether you want to make your money back on increasing values or in rent every month? There are so many variables. The inner harbor presents a lot of opportunities depending on whether you are looking in Locust Point, Federal Hill, South Baltimore, Fells Point, Canton, Greektown, Little Italy. There are condo's, row homes, multi family homes. There are positive's and negatives in each. If you're looking for single family detached homes then moving towards Dundalk, Middle River, Essex would be worth a look or down towards Glen Burnie.
What you want to find is an agent that understands real estate investing, is possibly an investor themselves and maybe has a CIAS (Certified Investor Agent Specialist) designation. I am all of these. I own rental property and I have done some rehabs and resales and I have a CIAS designation.
Let's talk and see how I can help you grow your portfolio and be on your way to investing.
June Piper-Brandon, ePro, CIAS, CDPE
Century 21 New Millennium