Baltimore Buy & Hold

[Patrick Codd]

Good afternoon,

I'm newish when it comes to investing.  I have several buy and hold properties in Baltimore & Anne Arundel County.  I wanted to see what areas every you guys like in Baltimore.  I have a property in Waverly and Pigtown that I bought each for around $50K and they rent for $1000+.   Any other good areas in the 50K-100K range that rent for 1.5%+ of purchase price? 

Thank,

Patrick

[Account Closed]

You know Patrick - I was just like you "newish" investor about 48 years ago - I started out in Baltimore - I was raised in Waverly - it looks like you have a good start - at this time my wife and I own commercial and residential real estate - we are also auctioneers and full time investors in Baltimore and Jacksonville Florida - in my opinion this is a great business.

You wanted to know about good areas - I believe any area that you can create cash flow or equity is a good area - I try to stay away from areas that are so-called "hot" - I want real estate where the seller will be open to an offer that will make me money or equity or the short term basis.

I make many offers all the time without looking at the property - when the offer is accepted or a counter offer comes in - I than go look at it and if necessary do a second stage offer - one that will fit my formula ---- and that is --- cash flow or equity.

I hope we can meet sometime in the future - my office and auction company is on Harford Road - I would be glad to give you some ideas about the market, creative financing or commercial investing. In this business it is always nice to meet investors - be glad to help - no charge - it is always nice to meet local folks.