All Forum Posts by: Account Closed

@Account Closed, sounds like you got a negative cash flow no equity deal.

Hi @Account Closed, I thought it might help indicate to me where to look for EQUITY or CASH FLOW.

Hey BP,

The title has it all.  I'm curious where Baltimore BPers have purchased recently and/or where you're targeting.  What neighborhood(s) are you excited about? Thanks for the info!

@Haseeb Ahsan, I've been doing a lot of reading on Baltimore because I too am not familiar enough yet. Here's. what I've found, and hopefully more knowledgeable people can jump in to add to or correct what I say. 

It seems like the nice places like Fells Point, Charles Village, most of South Baltimore (Locus Point, Fed Hill, etc), Canton, are all expensive and offer poor options for cash-flow. South Baltimore may be a good speculative option due to endevelopment at Port Covington, but that's a long and expensive gamble. 

The trendy and gentrifying neighborhoods might include Station North, Reservoir Hill, and Woodberry among others.  Hampden and Canton sound like they've already done most of their appreciation. Not sure what else to say besides I haven't found anything on market that makes cash-flow sense. I talked to some Realtos and their suggestions were Dundalk and Washington Village. I wasn't too impressed when I looked at either. 

I found some deals that seem to cash flow, but they seem to be in areas with a bad reputation, like Cherry Hill.  I did a lot of reading on this neighborhood. They have unbelievably high unemployment, it's a food desert, and high poverty rates, but a 1985 home for $65k renting at $1100 is otherwise tempting. Trulia lists it as a low crime area, but it has such an awful reputation. It's hard to tell if its turning around. Less than a dozen murders in the past 3 years...

I think it was Ned Carey on BP that said the further from the city center also means lower crime. Another poster said to up the 1% rule in Baltimore to 1.25% because of the astronomical property taxes. I am aiming for 1.5% RTP. 

So basically I'm still searching for my target neighborhood but am researching north-west Baltimore like Windsor Hills.  I'm also open to suggestions for neighborhoods. 

Hey Folks,

 I've found a turnkey provider that has some interesting deals, and I'm curious to know more about their reputation. I couldn't find any testimonials on their website.  Has anyone here at BP worked with Cris Moffitt or his investment group?  What is his connection with Alive (that's how he originally contacted me, but says now that he is unaffiliated with that group)?  Thanks for the info!

Christopher

I'm looking to invest out of state, so should I find a broker in my resident state or my investment state? I can see the advantage of either. Thanks!

Ty Mar , Seth Sherman , Tim Y. , Thanks for your feedback. I haven't had the chance to drive the neighborhood and was going to do so next week when I'm in town. I trust your local knowledge that it's not a great area, and I'm not all they surprised. My only data for safe neighborhoods is trulia, and I understand the limits of that. I've heard often that Baltimore is a block-by-block town, so I thought trulia might have it right on this street. Do you know a better source, like neighborhood scout perhaps? When you say there are only good and bad areas of Baltimore, that's a bit different than the block-to-block advice that I've been given before.

Chandler Spence , sorry to hear about your bad experience. What would you do differently to vet your turn-key provider in the future? Are you invested in Baltimore otherwise? Thanks for sharing your results.

Ned Carey , that's a cool tip. I hadn't considered using these programs as part of an exit strategy. Thanks!

Hi Matthew Paul , I grew up in Maryland and visit often. I'm still learning the Baltimore neighborhoods, but properties like this one seem like the best balance of cash-flow at a good entry price. I don't think I'll find them in Montgomery county for example, and at first glance PG doesn't seem better than the neighborhoods in Baltimore I'd invest in. Where do you choose to invest, and what criteria do you have for yourself? Thanks for the input.