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$15k renatble properties in Baltimore, could this be true?

I've been searching through listings for investment properties, and came across a few tenet occupied properties at around $15k with it being rented out for $800 monthly. Could this be true? Can you relay find rentable properties with little to no renovation needed in that range? Seams way to good to be true. If so are their any realtors out there with experience finding decent properties in that range, if so I have $30k cash to invest, and would mind picking up a property or two. If their are any knowledgeable realtor familiar with that market, let me know.
  • May 25 2012 - Baltimore
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Answers (2)

 There are deals to be have, the issue to be very careful of with rented properties is the situation with the tenants.  the terms of the rental agreement wich you will have to honor.  Are they paying? Do they have more persons in the property than the ones in the rental agreement? etc.
  • May 25 2012
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You totally can!  There are some crazy deals out there.  To tell you the truth the deals were way better and frequent 1-2 years ago.  Now there are a lot of investors out there and less inventory.  I know of a foreclosed condo with hardwood, granite, stainless steel, move in condition for 16k!  Row homes tend to need a bit of work, but you certainly can pick something up tenant ready for 25k or less.  I sold some place last year for around 7k almost tenant ready. 
  • May 25 2012
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