Somebody Tell me why nobody is buying this property? lol

[Leon Chappell]

I have sneaky suspicion that a somebody knows something I don't. lol This seems like a sure fire property. I wanted to pay cash for it and just start collecting rent.

 It's a $10,999 townhouse in Baltimore, MD with tenant in place renting for $950.00 a month. 4 bathroom, 2 bedrooms. Supposedly turn key. On a homeowners block. I will try to post pictures below. 

I'm still new to investing in real estate, but what are some potential reasons for this property to be still on the market for months. I'm thinking about buying it this weekend. Is it worth the 5 hour drive to Baltimore? What's some major pitfalls I could run into.

 

[Andy Gross]

Originally posted by @Leon Chappell:

@Devin Morgan My brother stayed in baltimore for a little while. He definitely said similar things. I have some friend up there also Im thinking about sending them to look at some properties for me. I just look at property like that and see that even if it's in a high crime area the cash flow would be awesome. Hopefully let a good property manager deal with the day to day headaches.

Overall how to do you feel about investing in Baltimore? From the outside looking in it looks like a honey hole. 

 The reason Baltimore CAN BE so profitable is:

- Tenant friendly laws and courts

- Tenants that know how friendly the courts can be.

- For every great tenant, there are several more that can't get their act together.

- Old housing stock and lots of lead paint - this point is not to be underestimated. 

- Stupid high property taxes

High risk can equal high reward. It can also mean huge losses.