Vacant to Value Baltimore

2 Replies

Do any Baltimore area investors have any experiences with vacant to values program offered through the housing authority? I was approached about doing some buy and holds in the program. Obviously the properties need work and aren't in the best areas but might have potential to make some money.

Anyone with experiences either positive or negative with this program?

I attended one of their monthly education sessions. V to V is within Baltimore Housing, which is one of the more dysfunctional agencies in the city, IMHO, although perhaps this small unit is more focused. Look specifically on the Vacant to Value website and their Facebook page.

My understanding is you have to apply to the agency in order to be qualified to buy their houses. I'm told the application process is rigorous. They do not want novice rehabbers. Download the application and read the fine print.

That said, once you are accepted as a rehabber you can get the houses, which are owned by the city, for amazing prices. We are talking about houses with trees growing inside, visible through the roof from outside. But if you rehab and resell them they will post on their website and publicize them, often to prospective buyers in their first-time homebuyers program. They also like to cut deals with big developers who will take on entire blocks.

Look also at the One House at a Time nonprofit, which has a similar program. I don't know much about that.

Good luck,

Nancy Roth

Pass on it, plenty of deals out there. Not worth the hoops. Dealing with baltimore city government is not something i would wish on my worst enemy.

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