All Forum Posts by: Rich Baer

@Brian Degener

In my opinion you have a zero chance. Most of these REO Companies are prohibited from doing anything but give the property to a listing Agent. Check with @Russell Brazil.

@Tim Youse

Morrell Park is fine. St Agnes is decent. Not a fan of Carroll Park. Lead paint is a problem throughout the area. Be sure to add that in to your repair costs. These homes are under $50,000 for a reason.

@Nicole B.

For zoning issues you can call the Balt City zoning department or visit in person. They are one of the few City agencies that are actually helpful. As far as building codes, when you hire your Contractor he should be familiar with the rules. When he pulls permits, the City will send an Inspector to review the completed work. Any issues will come up during the inspection process. Leave it to the professionals to advise you.

@Joseph England

I give you credit for working this area. It's not my cup of tea. My only caveat to you is that when rates rise or the economy tanks again, just like before Pigtown will lead the collapse of prices. Just don't get caught with inventory or be over- leveraged.

@Andres Perez

The main thing to do is to have your property certified as lead safe.

@Peter S.

Sorry to say that no Lender will go for that. The reason is that they have no real security with the property. The best that they could do is foreclose on 20 % of the property. Who would buy that at auction should you fail to pay? Good question though.

The Secret Life of Moe Berg. (1930's Baseball player and WWII spy for the government.)

@Cory Iannacone

Catonsville is excellent for both rehabs and rentals. However, you will obviously be paying more and your rate of return will be less. Depending on your location, size and tenant profile the $1300 -$1500 mark is obtainable. But you will have less headaches being in the County. 

@Nestor Soto

One man's best is another man's worst. However, try 21213, 21229, 21221, 21222, 21206 and Brooklyn in AA County.

@Haseeb Ahsan

Neither area is on the rise. Dundalk is a much better rental area than Brooklyn. If you have to go with Brooklyn stay in AA County (not Balt City). With few exceptions all Baltimore working class neighborhoods rent for $900 to $1100 depending on size, condition and how much you want to stress your tenant.