Baltimore (Maryland in general) has not experienced much of the real estate bubble “burst” as much of the rest of the country. In fact, some ares are doing quite well.
Darrin graduated from Purdue University in West Lafayette, Indiana with a Bachelor of Science degree in Computer Technology in 1989. Prior to becoming a full time professional real estate investor and licensed Realtor, he worked as an IT Analyst for numerous Fortune 100 companies including IBM, Fannie Mae, Citigroup, Lockheed Martin, and Unisys.
Because of his high degree of honesty and integrity, Darrin held some of the highest security clearances available in the United States while working for some of these companies.
Darrin is a firm believer in continuous self improvement and life long education. As such, in the mid 1990s, he began reading about the financial benefits to owning real estate and owning your own business.
After reading numerous books and taking several classes on investing in real estate such as Robert Kiyosaki's "Cash Flow Quadrant" and "Rich Dad Poor Dad", Darrin came up with a 5 year plan to get out of corporate America by buying enough positive cash flowing investment property to replace his monthly income from his full time job in the computer industry.
In just over 5 years, Darrin had accumulated nearly 20 rental properties and had renovated and sold over half dozen more. And in the spring of 2008, Darrin was able to make his dream a reality by building up enough monthly positive cash flow from rents to nearly replace his full time income, and was able to retire from the computer industry to invest in real estate full time.
Darrin is now looking to take his business to the next level by taking advantage of the tremendous opportunities that exists now in the United States to buy distressed properties significantly under market value.
He is absolutely convinced that he and his partners will be able to buy enough properties over the next 2 to 3 years to be able to completely retire.
Darrin Solomon
Tri-State Home Buyers, LLC
P.O. Box 1632
Beltsville, MD 20704
Phone (410) 800-4348
Fax (301) 931-2340
Cell (240) 461-3469
In a word- YES! However you must exercise caution and get familiar with areas and values. Baltimore is a block by block city meaning the values can fluctuate wildly in the same neighborhood. Also most people in the city rent so picking up rentals at a good price is always a good strategy as long as you provide a good safe home for your tenants. Also fixing up and renting can be very profitable. Or fixing up and selling to landlords. With that being said, the first thing to learn is how to find deals. I first learned to find deals and after that my life became easier as the leads I didnt use I sold to other investors and picked up fees on properties I didn’t own. How cool is that? A guide that was useful to me was the insiders guide to getting an investment property, found at http://www.83daystoriches.com
Also there are some active real estate investor groups in baltimore. I would check out MAREIA. There are alot of good investors in that group.
yes
stop listening to the bubbleheads. Housing inventory to sales are about twenty to one. That’s four times the historical ratio. All bubbles return to the historical trend. Baltimore is a poor city, and I suspect that many houses, occupied by subprime home-moaners facing resets, will be abandoned there. An abandoned house reduces the value of all houses for that market (and, thanks to CMOs, all houses globally).