Updated over 5 years ago on . Most recent reply
House flipping in Baltimore
What are the best areas to fix & flip in Baltimore? What unique challenges can one expect to face flipping single family homes in Baltimore?
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If you are coming with no experience and you hire everything out through a GC you will most likely about break even or lose money.
You will need to settle on an area where you can get deals below 15-20% below value and then you will need to establish how you are going to execute your renovation for a reasonable price.
If you go with a reputable, established contractor you have a chance they will be fair and honest but you will pay a premium for that. This will almost definitely ensure that you don't make money.
You can go with a cheaper, less reputable contractor who may be cheaper but less reliable and more likely to steal from you.
As for your original question: your challenges are several. You have to find the right neighborhood, get the right deal, and then manage doing a project while sharks are circling below you and buzzards above you. The situation I described with service providers is very real and the city doesn't do small developers any favors on the regulatory side.
If you are very serious about it, I would settle in to the idea that it takes a few years to establish a business and if you decide on Baltimore you have to be willing to take your lumps along the way.