fix and flips in Baltimore

[Scott Lepore]

Im going to visit Baltimore soon to possilbly do some flips down there.  I look at the before and after numbers on mls and the spreads are huge.  At least compared to Denver.  I see 100k purchases and 300k sale all the time, and on small houses that cant need more than 50k repair based on the size and pictures.   I am hoping to get some input from locals with knowledge of what they consider good flip areas in that 100 to 300k price range.  and if what I'm seeing on paper is true in real life as far as the spreads.  I'm lucky if I pull out a 20-30k profit on a 300k house here in denver.  Any input is greatly appreciated.  

[Ian Barnes]

I still don't understand why everyone thinks Baltimore is a secret(like no one knows about it)  There are tons of out of state investors, and I see them come in, do a bunch of rehabs and then dissapear.  There is reasoning for this.  First off, every out of state investor from big cities think they can just come in with money, and push people into doing what they want to do(That doesn't work in Baltimore, a large part of the real estate community is very localized, wholesalers, contractors that are honest, and good real estate agents don't want to waste time with talkers, they want to deal with doers that are on the ground and real. Secondly, out of state investors come into Baltimore thinking they know everything there is too know, and then get screwed cause inspectors and buyers don't play by the rules(who ever knew there'd be ground rents, environmental citations, and a 3% seller subsidy).  Thirdly, and this is the strangest, out of state investors think they are much smarter than people that live in Baltimore just because they are from a more populated area. Well, that isn't the truth, some of the people I've met in the real estate business in the almost 3 years I've lived in Baltimore, are some of the sharpest people I've ever met and I worked for 10 years in Finance in NYC. So, are there deals, of course, are they easy to come by, hell no, does everyone make 40K on a flip, hell no, if you work hard and find the right people to work with, can you make money, hell yes.