How is Baltimore MD to invest in?

Question

Hello Fellow Investors,

What do you think of Baltimore MD for multiplex rentals? How is Barclay neighborhood specifically?

Thanks much!

Ian Barnes · Answer

@Ned Carey more future tax liens for you my friend, just give me first shot when you get them.

Ned Carey · Answer

@Deepak Kumar right now I think you get better value with SFH in Baltimore than with multi units.  The Barclay neighborhood is a neighborhood in transition. It is on the way up but that comes with risk.

@Ian Barnes

Wow that is a scary statistic. 6700 new units in a city that is not growing is not good for supply and demand if you are on the supply side.

Jeffrey H. · Answer

Evaluations are house specific, good and bad to everything. Multiple units to spread risk good, sometimes multi unit tenants dont get along. Bad.

Barclay? Also good and bad. Good, being rehabbed in places. Bad, still part of baltimore.

Account Closed · Answer

Risky. There are those who love Baltimore, and I applaud them for it. There were Vikings who left Norway in small ships and I applaud them too. But either group are adventurers and the Vikings had spears and traveled in groups for safety.

On a taxing note, when you sell in MD there are substantial transfer taxes so include that in your calculations.

Ian Barnes · Answer

@Francis Ifeacho, there's the cheap way and the expensive way.  The cheap way is to put blinds up on all windows, and screw in all old doors from the inside, or if the door are new, screw plywood in from the inside and get new framing at the end.  Also, I go onto ebay and buy a security sign for about 10 bucks(usually someone's old sign they don't use anymore and I put it in the front window.  Expensive way is to buy simplisalfe, and install it and pay the 15 dollars a month for monitoring, will run you about 400 bucks.

Solomon Morris · Answer

I've heard @Ned Carey repeat this again and again " go and drive around ." I'm glad I listened!  @Ian Barnes LOL

Ian Barnes · Answer

There's good and bad everywhere in Baltimore, just like every other city.  I sort of get offended when people from Arizona talk about Baltimore and have no clue about the city and make it like the whole city is a warzone.  I live in Brewers Hill(basically where Canton Crossing is) 36 Townhomes are being built across the street from me, a 300 unit multiplex across from Canton Crossing called The National just broke ground(1 bd rents will start in the $2200 dollar range), a Nordstrom Rack is being built at Canton Crossing, another 200 unit on Haven street is being built about a 1/4 of a mile away from the National, oh and lets not forget the 2000 unit complex under review right next to O'Donell Heights again all in the same area. As it stand, 6700 new units are being built in South Baltimore, sounds like a rough, dying city, that is dangerous to invest in.

Francis I. · Answer

Thanks for sharing this.

Francis I. · Answer

Hey Ian, I've found your direct responses to be very helpful. What advice do you have for securing one's rehab project in Baltimore city (i.e reducing or preventing the incidence of theft or break-ins)?

Francis I. · Answer

Did you get a deal or deals by doing this?

How is Baltimore MD to invest in?

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