Investor and licensed Virginia Realtor

[Sam Sharata]

I am an investor and licensed Virginia Realtor living in Northern Virginia who enjoys transforming and improving communities by rehabbing run down and abandoned properties and making them available to families who would otherwise be unable to afford a home. To me, this not only makes sound business sense, but it is a socially responsible way to earn a living while providing a valuable community service.

[Sam Sharata]

First, let me thank all of you for your responses. It's truly encouraging to know that there are other investors and individuals out there who share the same vision. While my initial goal was to find a way out of the 9 to 5 rat race and continue supporting my family, an equally important objective was to demonstrate to my children that it's possible to earn a living by adding value and serving the community.

I attended college in Baltimore over 30 years ago, and now my son is attending college there. When I took him up for his freshman semester, I was really sad to see how much the city has deteriorated over the years, and I knew then that I want to do something to help (in my own small way). 

Clearly, there is money to be made purchasing distressed properties, making minimal repairs, and renting them out to Section 8 and VA voucher recipients, but this doesn't necessarily help stabilize a community because the residents have no skin in the game. Furthermore, the city views people who engage in such practices as opportunists who simply propagate the problems faced by so many residents.

IMHO, a more effective and longer term approach is to work with local trades and businesses to hire and train local youth to rehabilitate distressed properties and reintroduce them back to the community at affordable prices. The community benefits by restoring blighted properties, making them available to families who would otherwise be unable to afford a home, teaching local youths a valuable and marketable skill that can help get them off the streets, and thereby reduce the potential for crime. I'm sure the city will support such efforts, because they would rather have owner occupied homes and issue fewer vouchers. 

I am just one person, but I know that if individual investors took the initiative of rehabbing just one or two properties in this manner per year, they will steadily drive demand for more profitable investments over time. 

Perhaps this may sound altruistic and naive to those more seasoned investors already working in Baltimore, but I personally am open to suggestions. I want to grow my business in Baltimore, and I know my prospects will only improve if the crime rate drops along with an improvement in the employment outlook. Once they see these changes, I am confident that residents from surrounding cities and suburbs will look to Baltimore as a viable option for their housing needs.