All Forum Posts by: Mario Ortner

Hello everyone, I live in LA and have about $120,000 in cash to invest. I've been reading about Detroit for the last year or so and although it's going to take years to get out of the fiscal mess, I believe the outlook it is going to improve steadily over the next 10 years. Having said that, I believe you buy in times of distress and ride the recovery. I plan to visit Detroit in September to visit some of the promising neighborhoods and would appreciate any tips about best upcoming locations and number of units I can get for that money. Thank you all.

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Do you live in LA as in Los Angeles? or New York? I am not clear. I live in LA and looking for a partner living in LA to invest in out ofstate rentals or fix and flip up to 100K

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Hello everyone, I will be coming to Baltimore next Wednesday, September 14 for 2 days (14 and 15). I am planning to visit some properties, meet with local contractors and RE agents, etc. I have been following the BP discussions and saw that many of you are actively looking for a first deal.

If any of you guys want to meet for coffee to exchange ideas or just talk about the RE market in Baltimore, drop me a line and we'll make it happen. I can meet either very early in morning or late in the evening. The more people, the better.

Hope to meet some of you. Good luck to all.

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Baltimore, Maryland

Hi Lisa,

I am an architect from Los Angeles and am looking to invest in Baltimore as Real Estate in LA is way too prohibitive. I am planning to travel to Baltimore early next month (September) to get to know the area and maybe look at some Auctions there. Let me know if you'd like to meet. I am open to invest with a partner if it makes sense. Let me know if interested. Take care.

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I said I am primarily interested in flipping, but would consider other options. You assumptions are incorrect, plus I know people who have been doing it successfully.

Thanks for the negative vibes. I pride myself from listening to everyone.

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Baltimore, Maryland

Originally posted by @Account Closed:

Hello Mario,

May I ask are you looking for investments in fix and flips or buy and holds ? Multi units , SFH , commercial ?

Hi Michael,

I am looking for flips but could be interested in multi unit.

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Baltimore, Maryland

Hi, I live in LA and thinking of investing in Baltimore as prices (and therefore risks) are much lower than in California. Looking for fellow investors to partner, exchange information, and/or anything else useful.

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Originally posted by @Ray Slack:

I would have to agree with Charles. I invest in baltimore but I spent a year driving around the city and figuring out areas that are good and bad and monitoring sales and rentals in different areas of the baltimore before buying anything. I have been in real estate for 30 years in Florida and also another City in Maryland (Bowie) about 45 minutes outside of Baltimore and don't think I could have done it without physically being in the city. Contractors in Baltimore are notorious for being the worst ever. The take your money do sloppy work and then walk off the job 1/2 way through.

If you REALLY have your heart set on doing this the only way I would suggest would be to get a Realtor in Baltimore (not me) that is familiar with the areas and the flipping business and bring you possible deals. Then you would 100% need to move to Baltimore for the 1-2 months during the renovation and be there every day to manage the contractor and workers.

I'm guessing that you read some Top 10 list that said Baltimore flips sold for the highest increase in value over every other city in the US. Am I correct? This article was deceiving because yes the average Flip sold within a year of being purchased and resold for an average 91% over what they were purchased for? This is GROSS profit. The houses on average are cheap and 100 years old.. they need Total Gut rehabbed including total removal of Lead Paint from outside and inside. To the articles numbers of houses in Baltimore were bought for $100,000 and Flipped for $200,000 in six months don't account for the $60,000 in renovations and $20,000 in buying and selling costs. Leaving a net profit of about $15,000-$20,000.

Thank you Ray. Great Insight. I am planning to visit Baltimore early next month. I am searching for a good Realtor and contractor (as you can see from my original post). I am hoping to develop solid relationship with professional in those fields before I invest. Due to my work schedule I cannot physically spend 2 months in Baltimore so I'll have to find a way to handled it differently.

I'd love to hear more about your experience in Baltimore. Per my research, I like the challenge of investing in Baltimore city as opposed to county, since wild variation in prices could be advantageous in the flipping business, but I am puzzled by the change of neighborhood perception that occurs within few blocks.

Take care,

Mario

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Baltimore, Maryland

Thanks Charles for your input. I messaged you privately.

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Baltimore, Maryland

All Forum Posts by: Mario Ortner

Mario Ortner has started 4 posts and replied 14 times.

Post: Multifamily Rental in Detroit

Post: Multifamily Rental in Detroit

Post: What city should I invest in?

Post: My trip to Baltimore

Post: Help me analyze this flip or brrrr deal in Baltimore

Post: Baltimore: Looking to Invest

Post: Baltimore: Looking to Invest

Post: Cash Buyer/Rehabber from Maryland

Post: Baltimore: Looking to Invest

Post: Baltimore: Looking to Invest