All Forum Posts by: Ian Barnes

Belair-Edison and Edmonson Village

Literally anything with the name Winchester in it, I stay away from.  Good luck, your gonna need it.  Hopefully I won't see you in the obituary section in the Baltimore Sun because of a stray bullet. One of the most dangerous neighborhoods in the United States.

Its not subtle insults. The city has only gotten worse. City is not run well, crime is at its highest ever in the last 3 years and getting worse. Water has gone up over 100% since 2012 and will go up another 100% in the next 5 years. Corruption is rampant in the police dept and the mayors office. City Counsel refuses to make being caught w an illegal gun a felony, you cant even pay bills because of the ransomware attack, and the city refuses to shut off water, and you cant kick a tenant out in rent court for refusal to pay water even if its in your lease. Also, eviction at a minimum takes 3 months. I could go on and on. I will never buy a rental in the city again unless major changes happen in the govt. On the other hand ill buy fix and flips or wholesale deals anyday.

@Kyle Howard, what are you talking about? I moved to Baltimore in 2015 when there were 628K people living in the city, now there are 599K living in the city.  Just cause you have a bunch of crap near some other areas, doesn't mean its going to go up in value. Go up Greenmount ave in 21212.  One side is Guildford where houses are 500K, one block away is not Guilford and houses go for 50K.  So in your scenario, because its near downtown, its valuable.  Stop trying to convince yourself that its ok to sell garbage to newbies who don't know any better, because it might go up in value in 10 years.  

@Akeem Moreno As I always say with these types of cheap properties, be very careful, what you don't see is what's going to get you in trouble, lead, non maintenance, etc.  There's a reason why its only 19k. These are what are considered the out of state sucker deals,  wholesalers down here get them for 10K, assign them to out of state investors(a lot from New York who think they know everything) make quick money, then the investors lose all there money, and never invest in Baltimore again, Don't be the sucker!

@rasminjacob what i will tell you is I co-own a construction company that works a lot with investors and we are getting steady jobs in Riverside, not so much cause of Port Covington, but because its the last area thats safe that hasnt been totally developed. Ive spoke with some of the old timers and they were waiting to sell for Port Covington.

@Kelly DeWinter I've never gone to rent court 3 to 6 times in Baltimore City to get an eviction judgement.  Anywho, it all depends on who your person on the ground is that oversees your properties.  If you don't pick the right one, you will lose a lot of money.  I co-own a construction company, and my biggest clients are from California and Utah, and they are killing it in Baltimore.  Its definitely a who you know and what you know city.  But walk in thinking your smarter then everybody on the ground just cause Baltimore City is a little rough, and your gonna learn a really expensive lesson. in your pocket.  Network and find the right people and you will kill it. Just an FYI, I co-run with a bunch of people "Baltimore Investors Network"  on Facebook.  By far the biggest and best group to get info on all things investing in Baltimore as far as real estate.

Opportunity????? They were supposed to start building 2 years ago, they don't have the money or demand, They are waiting for an anchor tenant like an Amazon to come in and put a campus there. Chances of that happening with the lack of government infrastructure is minimal.

@BOB CRANEY I haven't see a good deal for multi-units in Baltimore for about 2 years now.  Anyone selling now is just looking for suckers, and there are a lot of them.  In the next downturn, a lot of mortgage holders  in Baltimore will be selling foreclosures for roughly 50% of their value now.

80k-100k all in