Baltimore City ... Should I invest now ?

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Baltimore City ... Should I invest now ?

Robert Nelson
Towson, MD · Member since 2019 · 44 posts · 18 votes

Looking at real estate to buy in the DMV area and Baltimore city is very cheap right now. Almost reminds me of what’s going on in Detroit right now. Even though it’s a tough area should I look into buying while its low?

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Michael KruppPro Member
Lender · Baltimore, MD · Member since 2016 · 67 posts · 114 votes
7y

Hey Robert! So you are interested in Baltimore!? Yes, there are opportunities as prices are relatively inexpensive compared to DC, MD Suburbs of DC, and VA. There are deals in Baltimore city and Baltimore county, as well as surrounding counties. In Baltimore city, you just need to know where you are buying as it is a block by block town. What I mean is that you can find a great block or two surrounded by a very rough block or two in general. There are a variety of neighborhoods and price points even within close proximity. It really depends on whether you want to do rentals or flips, and the price points you are comfortable with. I am an investor as well as a lender and have 17 rentals right now and am adding to that, and do around 10 flips or new builds per year. All my rentals have ARV's of $100k or more as I personally do not want to be in the rougher areas, though some investors do very well with the lower valued properties. It depends on your tolerance and risk level. There is plenty of opportunity, though it is a competitive market. Many new investors have been overpaying for properties, so make sure you are not one of them. Find a couple good realtors that work with investors and a knowledgeable lender or two as well. Do some driving to get to know the areas too. People always wonder if they should invest now or is the market overpriced and should they wait for a downturn. I have found that over time, real estate values go up, so there is no time like now! 5 years from now, you will look back and think I should have bought then. I know I have done that! I also know Baltimore pretty well, so if you need some specific advice, feel free to reach out.

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  • Tchaka Owen
    Real Estate Agent · Merritt Island, FL · Member since 2017 · 974 posts · 1k+ votes
    7y

    I don't believe DC-Maryland-Virginia includes Baltimore. That said, buy in Baltimore IF and WHERE you are familiar. Eg, my friend has a rowhouse that's not worth much because that particular area isn't likely to see improvement for a while. There are deals in Baltimore, just know what you're buying.

    4Reply
  • Jamal L.
    Investor · Baltimore, MD · Member since 2014 · 398 posts · 156 votes
    7y

    @Robert Nelson 

    What strategy are you looking to implement and areas are you considering buying are two questions I would have a greater understand of before I purchased any property.

    2Reply
  • Shadonna N.
    Developer · . · Member since 2014 · 520 posts · 162 votes
    7y

    Baltimore is not included in the area known as the DMV.  Two worlds between those thirty-fives miles. 

    9Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Tchaka Owen:

    I don't believe DC-Maryland-Virginia includes Baltimore. That said, buy in Baltimore IF and WHERE you are familiar. Eg, my friend has a rowhouse that's not worth much because that particular area isn't likely to see improvement for a while. There are deals in Baltimore, just know what you're buying.

    wow didn't know the Baltimore wasn't included in the DMV. Still, need to learn more about the market. I'm looking to do a BRRR. But if it's not worth much right now should I still look into the area while it improves?

    0Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Shadonna N.:

    Baltimore is not included in the area known as the DMV.  Two worlds between those thirty-fives miles. 

    Thank you for that info !! I still need to do more research. Just relocated here. trying to learn as much as possible. 

    1Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Jamal L.:

    @Robert Nelson 

    What strategy are you looking to implement and areas are you considering buying are two questions I would have a greater understand of before I purchased any property.

    Definitely looking to Buy rehab rent repeat. I am far from buying still doing research daily. Do you have any areas you suggest that are up and coming?

    0Reply
  • Tchaka Owen
    Real Estate Agent · Merritt Island, FL · Member since 2017 · 974 posts · 1k+ votes
    7y
    Originally posted by @Robert Nelson:
    Originally posted by @Tchaka Owen:

    I don't believe DC-Maryland-Virginia includes Baltimore. That said, buy in Baltimore IF and WHERE you are familiar. Eg, my friend has a rowhouse that's not worth much because that particular area isn't likely to see improvement for a while. There are deals in Baltimore, just know what you're buying.

    wow didn't know the Baltimore wasn't included in the DMV. Still, need to learn more about the market. I'm looking to do a BRRR. But if it's not worth much right now should I still look into the area while it improves?

    "DMV" is a term coined by a DJ in the early 2000s and it started catching around 2005. It is in reference to the DC metropolitan area (but not extending to the megalopolis). Personally, I think "DMV" is an asinine term and I don't use it, but that's just me. I'm old school, I still say "National Airport". :-)

    Of much more importance is your investment question.....please don't misunderstand what's pointed out. The key is to KNOW the neighborhoods because there are many good deals going on. Do you go to any REIAs in the area? Meeting people and talking to them will help you in that aspect. Even driving around one lazy Sunday could be helpful too. Don't give up that easily!

    1Reply
  • Janice M Fisk
    Member since 2019 · 4 posts · 5 votes
    7y

    @Robert Nelson...I don't have really any experience but I would think that it's high crime right now and wouldn't touch it until Democrat Mayors start investigating in their cities instead of stealing the Governments money.

    3Reply
  • Jonathan Soto
    Lender · Newark, NJ · Member since 2016 · 695 posts · 252 votes
    7y

    Best of luck, keep us updated on your journey. please learn the area before you being. Check out local meetups and network.

    1Reply
  • Account Closed
    Financial Advisor · CA · Member since 2012 · 128 posts · 76 votes
    7y

    Go ahead.  Leaves more for the rest of us in every other city in the US.

    You could be waiting and waiting and........w..a ...i....t....i...n.....g....

    0Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    7y
    Originally posted by @Shadonna N.:

    Baltimore is not included in the area known as the DMV.  Two worlds between those thirty-fives miles. 

     D M V    stands for Delaware , Maryland  , Virginia .   And the last time I went to Baltimore from my house in Maryland , I didnt cross any state lines .   Yes Baltimore is in the DMV 

    1Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    DMV is DC, Maryland, Virginia. DC metro area.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group546 Reviews
    WebsiteView Page
    8Reply
  • Brian Van Pelt
    Specialist · Owings Mills, MD · Member since 2017 · 485 posts · 415 votes
    7y

    LOL

    Yes Baltimore is in Maryland

    But the city of Baltimore can also be found in 7 places in the United States, plus various places worldwide each in various sizes:

    Baltimore - Maryland - America
    Baltimore - Vermont - America
    Baltimore - Tennessee - America
    Baltimore - Ohio - America
    Baltimore - North Carolina - America
    Baltimore - New York - America
    Baltimore - Kentucky - America

    Baltimore - Tolima - Colombia
    Baltimore - Cundinamarca - Colombia
    Baltimore - Casanare - Colombia

    Baltimore - Limpopo - South Africa

    Baltimore - Cork - Ireland

    Baltimore - Gracias a Dios - Honduras

    Baltimore - Izabal - Guatemala

    baltimore - Middlesbrough - United Kingdom (England)

    0Reply
  • Don Taylor
    New to Real Estate · Raleigh, NC · Member since 2019 · 36 posts · 12 votes
    7y

    All I can think about is "The Wire" lol, but hey man just continue to do research on the area in particular.

    0Reply
  • Yannik Cudjoe-Virgil
    Rental Property Investor · Baltimore, MD · Member since 2016 · 253 posts · 178 votes
    7y

    @Robert Nelson Baltimore may not seem attractive to outside investors, but you have to look deeper in the policies in place for current and future development in the core of Baltimore city. You will see its on the path to progress

    6Reply
  • Cassidy BurnsBusiness Member
    Investor · Alexandria, VA · Member since 2016 · 859 posts · 460 votes
    7y

    Familiarize yourself with the market first and foremost.  Always know, your first investment is your most important investment, and then so is the next and then the next.  

    But with Baltimore.

    STUDY THE MARKET! Its key.

    [email protected]540-960-1507
    0Reply
  • Michael KruppPro Member
    Lender · Baltimore, MD · Member since 2016 · 67 posts · 114 votes
    7y

    Hey Robert! So you are interested in Baltimore!? Yes, there are opportunities as prices are relatively inexpensive compared to DC, MD Suburbs of DC, and VA. There are deals in Baltimore city and Baltimore county, as well as surrounding counties. In Baltimore city, you just need to know where you are buying as it is a block by block town. What I mean is that you can find a great block or two surrounded by a very rough block or two in general. There are a variety of neighborhoods and price points even within close proximity. It really depends on whether you want to do rentals or flips, and the price points you are comfortable with. I am an investor as well as a lender and have 17 rentals right now and am adding to that, and do around 10 flips or new builds per year. All my rentals have ARV's of $100k or more as I personally do not want to be in the rougher areas, though some investors do very well with the lower valued properties. It depends on your tolerance and risk level. There is plenty of opportunity, though it is a competitive market. Many new investors have been overpaying for properties, so make sure you are not one of them. Find a couple good realtors that work with investors and a knowledgeable lender or two as well. Do some driving to get to know the areas too. People always wonder if they should invest now or is the market overpriced and should they wait for a downturn. I have found that over time, real estate values go up, so there is no time like now! 5 years from now, you will look back and think I should have bought then. I know I have done that! I also know Baltimore pretty well, so if you need some specific advice, feel free to reach out.

    10Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Cassidy Burns:

    Familiarize yourself with the market first and foremost.  Always know, your first investment is your most important investment, and then so is the next and then the next.  

    But with Baltimore.

    STUDY THE MARKET! Its key.

    Thank you, Cassidy !!! Definitely doing research daily. Baltimore is tricky but there are opportunities there

    0Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Michael Krupp:

    Hey Robert! So you are interested in Baltimore!? Yes, there are opportunities as prices are relatively inexpensive compared to DC, MD Suburbs of DC, and VA. There are deals in Baltimore city and Baltimore county, as well as surrounding counties. In Baltimore city, you just need to know where you are buying as it is a block by block town. What I mean is that you can find a great block or two surrounded by a very rough block or two in general. There are a variety of neighborhoods and price points even within close proximity. It really depends on whether you want to do rentals or flips, and the price points you are comfortable with. I am an investor as well as a lender and have 17 rentals right now and am adding to that, and do around 10 flips or new builds per year. All my rentals have ARV's of $100k or more as I personally do not want to be in the rougher areas, though some investors do very well with the lower valued properties. It depends on your tolerance and risk level. There is plenty of opportunity, though it is a competitive market. Many new investors have been overpaying for properties, so make sure you are not one of them. Find a couple good realtors that work with investors and a knowledgeable lender or two as well. Do some driving to get to know the areas too. People always wonder if they should invest now or is the market overpriced and should they wait for a downturn. I have found that over time, real estate values go up, so there is no time like now! 5 years from now, you will look back and think I should have bought then. I know I have done that! I also know Baltimore pretty well, so if you need some specific advice, feel free to reach out.

    Wow, thank you for all of this info. It is a block by block town. The one advantage I do have is a close friend of mine is Baltimore PD. He's been helping me look at certain areas. Definitely looking forward to reaching when I have more questions!

    Thanks again 

    0Reply
  • Jasmine Hu
    Rental Property Investor · Tysons, VA · Member since 2015 · 73 posts · 45 votes
    7y

    Is there any opps for student housing in baltimore? 

    I like inner harbor yet outside don't know the area. Very difficult to invest in cities.

    Locust point is nice. 

    Another reason to hesitate is it is much harder to evict in MD than VA.

    Considering, nothing to invest in metro DC, way too high.

    1Reply
  • Courtney Rollins
    Wholesaler · Durham, NC · Member since 2018 · 157 posts · 50 votes
    7y

    yea it really depends on your goals, your why, location, and business strategy anywhere and particularly in Baltimore. You could target low-income population and low price points for cash flow if you have a strong management team, systems in place, and understand the block. You could also flip or wholesale as long as you have specific market knowledge. Check out the local REI meetings to get a feel the lay of the land. Good luck!

    1Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y

    @Jasmine Hu I've conceded VA also. It's still a market I have to study. Thanks !

    0Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y

    @Courtney Rollins thanks! I definitely will

    0Reply
  • Ian Barnes
    Rental Property Investor · Baltimore, MD · Member since 2014 · 247 posts · 321 votes
    7y

    @Robert Nelson, the last Baltimore City cop I spoke with was at a property on 22nd street that had been broken into a couple of hours before by junkies.  They were nice enough to smear human crap on the bathroom walls, so it wasn't my best day.  Anyways, the Baltimore cop, said we should invest in the county not the city, the city was getting way worse, and if he didn't have 4 years left till his pension, he would move his family.  He said they go to at least 10 investor break ins a week, sort of sad.

    1Reply
  • Robert Nelson
    OP
    Towson, MD · Member since 2019 · 44 posts · 18 votes
    7y
    Originally posted by @Ian Barnes:

    @Robert Nelson, the last Baltimore City cop I spoke with was at a property on 22nd street that had been broken into a couple of hours before by junkies.  They were nice enough to smear human crap on the bathroom walls, so it wasn't my best day.  Anyways, the Baltimore cop, said we should invest in the county not the city, the city was getting way worse, and if he didn't have 4 years left till his pension, he would move his family.  He said they go to at least 10 investor break ins a week, sort of sad.

    Thanks for the heads up !

    0Reply
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