Currently live in the PG county area (45 minutes from baltimore) and looking at a duplex for sale that I plan on putting both units on section 8 in the Brooklyn area right off 895, eager to invest but have mixed emotions. Property is zoned accordingly and has current rental license, and is vacant as-well.
Purchase price: 145,000
Down Payment: 29,000
Estimated Cash flow including all expenses is around $750-800.
Thoughts on the investment and area?
Thoughts on Duplex in Baltimore
byu/Beautiful_Scar8231 inrealestateinvesting
Posted by Beautiful_Scar8231
1 Comment
I own a house in Baltimore and rent it out. Not a bad gig, IF you get a good long term tenant.
However, Baltimore is very pro tenant, they have made things very tough on the landlord. In fact, they just in acted a rule where you can’t just let lease lapse, unless the tenant agrees, and if you do as a strategy to kick the tenant out, then you have to take your house off the market.
Naturally, it’s tough to enforce. Bottom line, I would say Baltimore is great as long as you don’t need help from the courts. The second you need help from the courts. All your admin better be correct (rental license, lead certificate, procedures for eviction).
I would not get into section 8. That is a recipe for disaster. Essentially, they are going to enforce more regulation on you and only pay part of your rent, and provide no assistance for troubled tenants. Their solution will be to remove them from the program, which means you don’t get rent anymore and you still have to evict the tenant.