Beginners guide to investing in Baltimore

[Dylan H.]

Hey BP hope all is well.

We visited the city today and looked at some properties. Is there a "guide" to investing in Baltimore? Any tips?

Thanks all

[Sam Kahl]

Quote from @Dylan H.:

Hey BP hope all is well.

We visited the city today and looked at some properties. Is there a "guide" to investing in Baltimore? Any tips?

Thanks all

 What areas did you look in? How familiar with the city are you already? You probably have been told this, but the city changes dramatically by the block. This goes for everything from vacancies to values and rents. There is also surrounding Baltimore County, which offers attractive opportunities and I would suggest considering checking out that market as well. The tax rate per assessed value is about half in the county, which makes values higher. Although the City supplies the water to the county, the rates in the county are  exponentially cheaper as well. Of course the challenge with the county is that the entry price can be a bit higher.

What exactly are you looking for in terms of investment strategy? Feel free to reach out directly if it's helpful. In my recent experience the market has been fairly competitive for well priced investment-potential homes, especially those in areas where you're also competing against primary residents. You will need some strategy to write the offer, knowing that you will likely be up against cash or as is offers. I just closed for a buyer at 13% under list price, and though that doesn't happen all the time, you can occasionally find that deal :-)