Philadelphia, PA · Member since 2017 · 37 posts · 9 votes
I wanted to start investing in Baltimore MD. Does anyone think the Oliver section is worth investing in? If not are there any other places you may suggest. Also I would love to connect with other investors from Baltimore as well.
Developer · . · Member since 2014 · 520 posts · 162 votes
7y
I like the Oliver area. As with all of Baltimore, it depends on what side of the street you are on. It also depends on your goal (buy/hold vs flip). There were plans to develop the Blacks in Wax Museum. I have not heard any updates on that but I have seen other development in the area. Slow appreciation and an area for growth so I think it better for a buy/hold.
Developer · . · Member since 2014 · 520 posts · 162 votes
7y
I like the Oliver area. As with all of Baltimore, it depends on what side of the street you are on. It also depends on your goal (buy/hold vs flip). There were plans to develop the Blacks in Wax Museum. I have not heard any updates on that but I have seen other development in the area. Slow appreciation and an area for growth so I think it better for a buy/hold.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
7y
@Account Closed I have sold a lot of properties to investors in Oliver, obviously some must think it is worth investing in. Oliver is not currently a great neighborhood but I believe with the development the city and Johns Hopkins is pushing in the area make it a good long term bet. You would be getting in early, but that is sometimes how the money is made.
Currently there are some who are flipping there with full higher end rehabs. You have to know your blocks and the market there as the wrong block could be a tough sell.
Philadelphia, PA · Member since 2017 · 37 posts · 9 votes
7y
@Ned Carey thank you! The only problem is that I don’t know the blocks to well, I have an interesting vacant property lead on North Bond street that’s already been demoed inside. I’m going to meet with seller on Sunday. It’s a 3 bed 1 bath 1300 sq feet property. Seller asking for 25k, do you think it’s reasonable for me to ask for lower?
Philadelphia, PA · Member since 2017 · 37 posts · 9 votes
7y
@Shadonna N. Very interesting! Can you elaborate on when you say it’s all about the side of the street that you are on? You literally mean that you can be on the same block but one half of the block is way lower in value? I was actually looking to sell a contract in Oliver to an investor possibly. Just wanted to know what is considered a deal to investors in Oliver near north bond street. Thanks a million.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
7y
@Account Closed most of what I have sold in the area has been on N Bond. The north south streets seem to be getting more attention than the east west streets. I would think $25K for essentially a shell is on the high side. It partly depends on whether it is a two story or a three story. My guess is two story, since it has three bedrooms.
When you get up to the 1700 and 1800 blocks of N Bond the values drop. Just drive down the 1800 block and you can see why, lots of board ups still there. While there are renovated properties on the 120-1600 blocks.
Developer · . · Member since 2014 · 520 posts · 162 votes
7y
@Account Closed wrote. Values change block by block. I think $25K is a little high. The houses are a nice size and you can get $1000 rent. I have seen two renovations in the area that did not sell.
Philadelphia, PA · Member since 2017 · 37 posts · 9 votes
7y
@Shadonna N. Would 15k -20k be a better deal. The only problem is the owner told me she wouldn’t want anything less than 25. Hopefully I can y’all her down.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
7y
@Account Closed it depends on several factors especially including condition. Also are you going to flip or hold as a rental? Is it a 3 story or two story?