Baltimore City ... Should I invest now ?

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

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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Marquis Peoples
Member since 2019 · 1 post · 2 votes
7y
@Robert Nelson like you, I am interested in investing in Baltimore as well. I am in the early research stages. The city is not entirely a "s***-hole" contrary to popular belief. A lot of people fail to realize that their are quite a few colleges in the area and college students are ALWASY going to need housing. Bam, there's a market right there. I know individuals who have done really well by investing in Baltimore. There is definitely opportunities to make money and like a few have mentioned it just depends on your approach. Most certainly research the market and learn about programs and future development. Overall I think if you buy low you should be okay. Trust me in about 5 years Baltimore will most certainly be on people's radars. Especially since this MagLev development is looking more likely. I follow this gentleman Mark Owens on here who does a lot of investing in Baltimore and may be able to better assist you as well. Good luck and I will be following your journey as well!
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Abena Cannady
Rental Property Investor · Cambria Heights, NY · Member since 2011 · 22 posts · 14 votes
7y
I invest in Baltimore and it's been great for me. In the 3 yrs I've been buying there I have seen prices go up a good bit. I stay primarily on the east side. You definitely don't want to buy in Baltimore without checking out the area first. You'll quickly learn that baltimore is a very block by block city. Baltimore is great for cash-flow but i'm not banking on appreciation... although I have seen some appreciation with my properties, that's not by goal for that market.
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Account Closed
Landlord/Mentor · Baltimore, MD · Member since 2011 · 96 posts · 97 votes
7y
DMV stands for Delaware, Maryland, Virginia. Baltimore is in Maryland so it is a part of DMV. I have been investing in rentals here since 2002. It is one of the cash flow capitals of the USA but there are challenges. Before you spend any money, pick an area where other successful investors are working and learn the area.
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Matthew Reichert
Manassas, VA · Member since 2019 · 56 posts · 29 votes
7y
Originally posted by @Account Closed:
DMV stands for Delaware, Maryland, Virginia. Baltimore is in Maryland so it is a part of DMV. I have been investing in rentals here since 2002. It is one of the cash flow capitals of the USA but there are challenges. Before you spend any money, pick an area where other successful investors are working and learn the area.

Baltimore is not part of the DMV. The DMV refers to DC and the immediate cities surrounding it. Saying "M is Maryland and therefore Baltimore is part of DMV" is like saying Virginia Beach, which is at the bottom of Virginia, is also part of the DMV.
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Account Closed
Landlord/Mentor · Baltimore, MD · Member since 2011 · 96 posts · 97 votes
7y
Then please explain to us what you think DMV stands for. I think we are coming from different perspectives. I think of DMV as being short for Delmarva. In that instance the D would refer to Delaware and it would include everything in the three states including Baltimore and Virginia Beach.
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Matthew Reichert
Manassas, VA · Member since 2019 · 56 posts · 29 votes
7y
DC, Maryland, and Virginia. It's basically a clot centering in DC. Baltimore is its own metro area altogether.
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Matthew Reichert
Manassas, VA · Member since 2019 · 56 posts · 29 votes
7y
Originally posted by @Account Closed:
Then please explain to us what you think DMV stands for. I think we are coming from different perspectives. I think of DMV as being short for Delmarva. In that instance the D would refer to Delaware and it would include everything in the three states including Baltimore and Virginia Beach.

Maybe. This is the first time I've ever heard of Delaware being lumped into it. Maybe it's an area pride thing, where folks closer to either area swapped in whatever D they were happier about.
After a bit of forum searching, I see both Delmarva and DMV. I think somewhere along the lines, DMV started being interchanged with Delmarva, which is what's causing all the confusion.
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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y
Originally posted by @Matthew Reichert:
Originally posted by @Account Closed:
Then please explain to us what you think DMV stands for. I think we are coming from different perspectives. I think of DMV as being short for Delmarva. In that instance the D would refer to Delaware and it would include everything in the three states including Baltimore and Virginia Beach.

Maybe. This is the first time I've ever heard of Delaware being lumped into it. Maybe it's an area pride thing, where folks closer to either area swapped in whatever D they were happier about.
After a bit of forum searching, I see both Delmarva and DMV. I think somewhere along the lines, DMV started being interchanged with Delmarva, which is what's causing all the confusion.

The term DMV was coined by and grew out of DC Go Go Music about over 20 years ago to describe the 3 jurisdictions that make up the DC metro area. It has nothing to do with Baltimore or Delware. DMV is not short for DelMarVa. DelMarVa does include Delaware but is a completely different location, and generally refers to the DelMarVa peninsula, and not all 3 states in totality.

https://thoughtcatalog.com/jeremy-populus-jones/2013/10/24-things-you-need-to-know-about-the-dmv-dc-maryland-virginia/

https://en.wikipedia.org/wiki/Washington_metropolitan_area

https://www.washingtonian.com/2015/07/06/whos-responsible-for-naming-greater-washington-the-dmv/

https://en.wikipedia.org/wiki/Delmarva_Peninsula

https://www.urbandictionary.com/define.php?term=dmv

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David Nacco
Real Estate Agent · Chattanooga, TN · Member since 2018 · 258 posts · 136 votes
7y
I've always leaned towards @Matthew Reichert view of it... DC, MD, VA. It's the area around the 3 states. Delaware, Maryland, and Virginia share way to many borders between at least 2 of the states for an area of that size to make sense being considered a single market
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Brian Buchanan
San Antonio, TX · Member since 2017 · 17 posts · 4 votes
7y
So what do people think of Delmarva peninsula? Looking at the Exmore and cape Charles areas. Anyone got any opinions on fix and flip and long/short term rentals? Is the area known as a get away from the dc metro area?
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Tyreese Brown
Rental Property Investor · Baltimore, MD · Member since 2018 · 24 posts · 15 votes
7y
@Russell Brazil is ALL THE WAY RIGHT on what DMV stands for, and he also gave references to further your understanding. I think if you are going to invest in this area, whether it’s the DMV or in Balt Metro, you must first understand this very basic concept. I am from West Baltimore and graduated from Howard University in DC. I cannot begin to articulate how different these two cities are. Again, if you are looking to invest, take the time to know and understand the area you are trying to invest in.
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Ozzy SirimsiBusiness Member
Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
7y
This is a funny topic :D()))

@Robert Nelson asked about if it is a good idea to invest in Baltimore, he is just trying to make some money with minimal investment, it seem like that question became about where baltimore is :D)))
Who cares where is it, Baltimore is a good place to invest with minimal investment, if you know the city, you would make money that's all.
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