Baltimore

29 Replies

James Sotipalalit here I'm new flipping houses and this is what I am committed to. My question is for all investors around DC, Maryland, Virginia area is Baltimore a good area to flip houses in. I saw prices and they seem pretty cheap to buy.  So please anyone around my area can you tell me of Baltimore is a hot market at the moment let me know God bless.

use the search engine feature here to type in Baltimore and various variations of your question - there is already tons posted about Baltimore.

There is a great free general meetup that meets the 2nd Weds of the month at the Marriott BWI.  Not affiliated with BP but many BP members attend, including what I refer to as the BP Trifecta .  Start perusing this website and start attending some meetings to start networking and you'll figure out who these 3 gentleman are pretty quickly.   You'll also learn quite a bit about the Baltimore market.  

Welcome to the BP Nation!

http://www.meetup.com/bwimeetup

Medium logo jpegChristina R., r2investmentgroup, llc | 301‑960‑8020 | http://www.r2investmentgroup.com | MD Agent # 653692

Originally posted by @Christina R. :

use the search engine feature here to type in Baltimore and various variations of your question - there is already tons posted about Baltimore.

There is a great free general meetup that meets the 2nd Weds of the month at the Marriott BWI.  Not affiliated with BP but many BP members attend, including what I refer to as the BP Trifecta .  Start perusing this website and start attending some meetings to start networking and you'll figure out who these 3 gentleman are pretty quickly.   You'll also learn quite a bit about the Baltimore market.  

Welcome to the BP Nation!

http://www.meetup.com/bwimeetup

Hey thanks for the great advice and I Christina I signed up for Meetup a couple days ago.  You invest In Baltimore At all? We should connect I'm looking for deals now. God bless.

Yes Baltimore is a good place to flip. However Baltimore city can change dramatically y in just a couple of blocks. You really have to know the market. I see people trying to flip in areas where flipping makes no sense. 

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

This post has been removed.

Originally posted by @Ned Carey :

Yes Baltimore is a good place to flip. However Baltimore city can change dramatically y in just a couple of blocks. You really have to know the market. I see people trying to flip in areas where flipping makes no sense. 

 Ned that is so true my friends grew up around John Hopkins. They said across the street from their house would be 500k and up and then right where they live would be a war zone. Do you have like a automated email where you send out deals to people? I am really looking for deals I have a team gathered already.

Yep - http://www.meetup.com/bwimeetup

What are you doing with the future deals?

Do you have your financing in place if you are rehabbing?

Do you have cash if you are doing buy and holds.? Baltimore is a cash-player town for most of the rentals.  

Medium logo jpegChristina R., r2investmentgroup, llc | 301‑960‑8020 | http://www.r2investmentgroup.com | MD Agent # 653692

Originally posted by @Christina R. :

What are you doing with the future deals?

Do you have your financing in place if you are rehabbing?

Do you have cash if you are doing buy and holds.? Baltimore is a cash-player town for most of the rentals.  

 In the beginning my plan is to rehab to have enough cash for buy and hold propeties. Yes I have  a lender I am going to deal with to fund my deals.

What are people's thoughts about Pigtown/Washington Village? Houses are cheap but it seems very 'block to block' as Ned mentioned. Has anyone had luck flipping in this area?

Originally posted by @Account Closed :

@James Sotipalalit

As @Ned Carey mentioned, things do change drastically, sometimes fro block to block, so you definitely want to do your homework in advance of purchasing. 

While baltimore is Block by block it is not hard to figure it out if you go there. You will see visibly why some areas are nicer than others. This is NOT  something you can learn sitting behind  you computer. It is easy if you drive the neighborhood. 

@Stephanie Lella wrote

What are people's thoughts about Pigtown/Washington Village?

 I think this is a very good longer term bet. It is the cheapest area close to downtown. I haven't been working that area but I suspect it is not very nice.  Scott street and east is about the only good part.

I would love to own there for the right deal but it always seemed over priced for what it is now. In the boom it was hot for investors but no one had figured out that there wasn't that much interest from home buyers. There was a big mismatch between the number of homes being renovated and the pace at which end buyers were buying.

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

I'm going to drive the neighborhood tomorrow then. Thanks 

@Ned Carey, thanks for the response, your advice is always helpful!

Originally posted by @Stephanie Lella :

What are people's thoughts about Pigtown/Washington Village? Houses are cheap but it seems very 'block to block' as Ned mentioned. Has anyone had luck flipping in this area?

 I haven't purchased anything there, but I have to admit that it catches my eye compared to some other neighborhoods in the city. I have to agree that some of the prices seem a little high compared to what I'm prepared to spend, so it never really works out for me.

Baltimore has always been a very segmented city by neighborhood. One neighborhood may be a good buy and the adjacent one terrible. As a lifelong resident and contractor, I suggest " hitting 'em where they ain't, so to speak".

There are certain "adjacent" communities that offer tremendous value to buy low, renovate wise & hold for high cash income. Where else can you buy less than $25,000.00, renovate 25-45, rent for $1000.00-$1500.00?

Baltimore is a great place to invest. Just don't follow the crowd! Not from here? I suggest you partner with one who is and knows. Here's to your success!

Baltimore flippers / developer / investors -- I'm a new developer / investor relocating the area.  From my research, I have not seen a difference in facade / exteriors on the significant abundance of row / town homes and I'm curious to understand can they be updated / changed.  Not sure if city / county code laws do not allow for the homes to be modernized with materials such as fiber cement board / hardi board panels.  Can anyone shed any light on this? 

Baltimore is a merge of many worlds in a relatively small area. Back in the "day"..(08 or before) when anyone could get financing, one could sell anything and do so very quickly. many of those same people can no longer get financing, ever.....as a result, buyers of those "cheap" properties rehabbed are far and few between or non-existent.,,,and the logic makes sence, if you were a person that could qualify for financing (aka job/credit/some money), with the number of choices you now have at that level, you would more than likely choose a half-way decent place to go. AKA, if you buy a property in a half-way decent place, do a very good rehab, and price it reasonably, it will sell....eventually. key is to determine which is and isn't a "half-way" decent place accurately.

So Im in the Virginia area but the expensive part of course, yikes! I would like to purchase by next year and start flipping myself, im just concerned of the prices in this area and that I wont be able to find something affordable. I know Baltimore is much cheaper but it depends on the area, there are good places but then not so great places and they could be really close from each other. Definitely drive around that community once you find something attractive. Welcome to BP!
Originally posted by @Steffan Johnson :

Baltimore flippers / developer / investors -- I'm a new developer / investor relocating the area.  From my research, I have not seen a difference in facade / exteriors on the significant abundance of row / town homes and I'm curious to understand can they be updated / changed.  Not sure if city / county code laws do not allow for the homes to be modernized with materials such as fiber cement board / hardi board panels.  Can anyone shed any light on this? 

 In neighborhoods where I'm invested (Federal Hill, Pigtown), the popular thing is to remove dated fake block concrete facades from the 50's to expose the original brickwork. I have not done this myself but have seen it done numerous times. Doesn't seem too complex. I wouldn't imagine you need a permit, but it is Baltimore City so it wouldn't surprise me.

Cheers.

Greetings everyone I'm from Baltimore and interested in getting started in investing any suggestions for a rookie I've been researching for the last two years and I finally want to get active in investing.

I'm very interested to invest (fix/flip) in Baltimore area. I'm planning to go there and drive around the areas to actually "feel" it.  Can somebody recommends where to stay there. BTW, I'm from California. Any advise, tips and insights for long distance investing appreciated.

Thanks

Originally posted by @Jimmy Reyes :

I'm very interested to invest (fix/flip) in Baltimore area. I'm planning to go there and drive around the areas to actually "feel" it.  Can somebody recommends where to stay there. BTW, I'm from California. Any advise, tips and insights for long distance investing appreciated.

Thanks

Hey Jimmy,

You can stay at the hotels near the airport (BWI). How long do you plan to stay here? I just moved from San Diego this past April.

Jimmy Reyes if you stay at the airport you'll be staying among a barrage of prostitutes. And you'll be thirty minutes away. Plenty of decent hotels in baltimore. Expedia or some other website is usually helpful
Originally posted by @Seth S. :
Jimmy Reyes if you stay at the airport you'll be staying among a barrage of prostitutes. And you'll be thirty minutes away. Plenty of decent hotels in baltimore. Expedia or some other website is usually helpful

WOW!!! Never knew there were prostitutes at hotels near the airport. Ive always seen business men and women or families moving. I just stayed at a hotel near BWI last month. Well I guess you just have to be careful.

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