Baltimore: Properties Selling but they look rundown ... WHY?

[Aqeelah M.]

Hi Everyone, 

I am looking to buy and hold single family homes in Baltimore Maryland for 50K or less. As I began my search on Zillow I noticed there a lot of spacious properties being sold for extremely low prices ( 1.5K was the lowest), but they all look abandoned. Are investors planning to make this city a shinning jewel in the future? 

One particular website named Baltimore one of the worst cities to invest in...

I understand the population is declining and a lot of the neighborhoods are distressed, but things like 5g and a growing tech industry are going to make the entire city come alive, right?

I am not from Baltimore but it seems like the construction happening in South Baltimore is just the beginning of what I think will spread throughout the city.

Also, the amount of rent you can charge compared to the price of the house is very eye catching in Baltimore. 

Is this place a diamond in the rough ? 

Thanks! 

[Account Closed]

I am 77 years old, been in Baltimore all my life - have a stable of commercial buildings and houses. After awhile as an investor you just know where you don't want to own real estate -- oh yes - you can become rich in this City if you know what your are doing and do it often.

I started out as a bright eye enthusiastic young (want to be rich) kid in my 20's, investor (a seminar junkie) taking many useless courses from cons who could tell a motivational story about getting rich. Yep - I started buying houses for under $5,000 - therein was my wake-up call - my street seminar - the school of "hard-knocks -- guess what - I survived and made some serious profits from junk real estate in Baltimore.

Looking back on all those cheap houses, I guess I was fortunate to have very little knowledge and even less money - I had no choice but to learn the creative aspects of investing - I used credit cards, I did subject-to's, delayed settlements, financing companies, tax sales and foreclosures -- 

I was forced to learn how to fix these dirty dogs - I would get on roofs with Jack-Legs to learn how to do them myself, hanging dry wall, the art of mud, electrical and carpentry ----- WOW was I ever lucky to be unemployed with no money and a force that pushed me to achieve cash flow or equity. Oh, my wife supported my madness.

Sure you can get a house for $1,000 (or have a seller give you a deed and a thousand dollars) - learn the system and you too can create many millions of dollars in real estate buying or controlling POS houses in Charm City.

So there you go - my take on Baltimore - I am still here buying, flipping and auctioning real estate ---- come and join the brave ambitious people who want to get into this crazy business ------ IT IS BETTER THAN WORKING FOR SOMEONE!