Buy houses in Baltimore for $1

[KodeBlue]

They did this in NYC during the 70s/80s. The city owned a lot of foreclosed and burned down property (lots, brownstones, and buildings) and sold them for an extremely low low price. Some of these homes, lots, and hdfcs are worth a lot of money now and it definitely helped boost homeownership

Baltimore's housing stock is mostly rowhouses. The one thing about the $1 houses is that you can buy a house on a block fix it up, and the rest of the block can be leaning over, or the rooves could be collapsed. That's one issue I have with it. I wish more of 'us' invested in these up and coming neighborhoods.

 

[Dwayne_Taylor]

Some of these boarded up houses are only shells. Ive seen some with trees growing inside. Second, third floors , roof may be gone. Thieves took staircase toilets doors all wiring. It could easily cost 400, 000 to " rehab" when what you're really doing is building from scratch

 

[Big Blue]

buy it for a $1

but have to put in at least $30,000 or even more into remodeling the roof, kitchen, bathrooms, bedrooms and then electrical repair and new walls

i wouldn't be surprised some rich mogul pays a $1 and pay someone to stay there while they have time to build a plan to do something else with the property

With home prices today, that's still a massive come up.

 

[Money Be Green]

Im in Pg county how do I sign up

 

[desjardins]

People were saying do this in Detroit years ago
Taxes and LIENS usually make it a dumb idea. Then some cities are do imminent domain if you buy and hold with no kind of improvement on the property (assuming it's abandoned)

 

[GetSomeMoney]

People were saying do this in Detroit years ago
Taxes and LIENS usually make it a dumb idea. Then some cities are do imminent domain if you buy and hold with no kind of improvement on the property (assuming it's abandoned)

Those dollar homes in Detroit still haven't worked out either, certain parts of the city will take forever to come back, just not worth the investment and as a poster said above, 30k in improvements is probably being generous, my uncle did something similar to this decades ago and the rehab was more than 30k then, probably looking at closer to 100k today.

 

[Benefited]

Thanks for the heads up, but we did our research Dan Gilbert is bent on getting Detroit back off the ground and that's a billionaire...that's the thing with alot of people, too scared to take some steps to financial freedom. Things could go to shyt (sure) but at the worst we would have multiple homes to leave to our kids and they can be the ones to flip them if need be. But we have plenty of time to see this transformation out....better then working for someone else

Exactly,plus you can always burn the homes down if neccesary for insurance. Lets not be negative people,lets only send prayers. Then again you are trying to profit off black pain and be a tool of gentrification. Doesn't matter how I feel though,if you are black I guess its better you than the chinese or cacs. Plus your intentions are good in setting an example for your seed and people around you,so salute for that.

Hopefully I'll have the money soon to make such an investment,currently I'm investing in the stock market. Im fully focused on learning and getting better at that right now.

 

[AuntAnniesPretzels]

Those dollar homes in Detroit still haven't worked out either, certain parts of the city will take forever to come back, just not worth the investment and as a poster said above, 30k in improvements is probably being generous, my uncle did something similar to this decades ago and the rehab was more than 30k then, probably looking at closer to 100k today.

Baltimore has significantly more potential than Detroit imo. Lot of black excellence in the state of Maryland.

 

[GetSomeMoney]

Baltimore has significantly more potential than Detroit imo. Lot of black excellence in the state of Maryland.

That's debatable, I am from Baltimore but raised in the Detroit/area so I am familiar with both, black excellence in the area doesn't define gentrification

 

[sayyestothis]

The reason they are selling these are no one wants to live there. And as soon as ppl do taxes will outprice the investment.

Headline hustle for ppl that don't get the process.

 

[Montez]

If Amazon brings 2nd HQ to the DMV area will that impact these properties or Baltimore?

 

[MJ Truth]

Assuming these are in terrible neighborhoods

The thing is today's terrible neighborhood could be tomorrow's luxury area of town with gentrification, so getting in at the bottom may be worth it.

 

[King Khufu]

Note for the smart brehs and their circles interested

Invest together if you all got it, buy it
Get it remodeled
Resale at a fair price
Then let them rent it out

It could help? Idk shyt myself I'm just rehashing what I read on the first page so far

 

[TRFG]

The area will be gentrified by white or Chinese within 10 years and their kids will inherit it and not us.

They're gentrifying a lot of Baltimore City now a days.

What about buy up tax liens?



Cal you tell us more? I’m very interested

According to the reports most people are moving out of Baltimore

 

[Kane1]

Some of these boarded up houses are only shells. Ive seen some with trees growing inside. Second, third floors , roof may be gone. Thieves took staircase toilets doors all wiring. It could easily cost 400, 000 to " rehab" when what you're really doing is building from scratch

Nothing stopping you from tearing it down all together and sit on the land for years