Realestate Investors? (Baltimore: tax lien, transplants, real estate)

[redeem]

I`m wholesaling in the Baltimore City area and I`m searching for Investors such as Landlord, Rehabbers, and Developers to network with that are buying properties in the Baltimore City area. Also if anybody knows how I can buy properties from the Baltimore City Government and get tax liens and Judgement dismissed or at least reduced. I will be glad to pay a finders fee or a percintage of the settlement.

[Streetchie]

This has got to be a scam. Nobody's actually buying real estate in Baltimore city anymore....haven't you heard?

[barante]

It may or may not be a scam. This is how large-scale flipping has been done in Baltimore at least since 1944, when African Americans first crossed Fulton Avenue and the panic began. There were syndicates of investors who orchestrated this, many of them occupying floors of an office building at Calvert and Lexington.
This guy isn't dumb. He knows that to recoup value you have to get rid of judgments and tax liens.

[Streetchie]

Perhaps not a scam, but the house-flipping party is over in Baltimore. Most experts will tell you that prices will likely be on the decline until 2010 or so.

[barante]

House flipping is never over, my friend. Believe me, I'm writing a book about it.

[carolott]

House flipping used to be illegal. When did that change?

[hairmetal4ever]

Originally Posted by carolott

House flipping used to be illegal. When did that change?

It's illegal if there's no basic reason for the increase in value. If you legitimately buy under market, improve it, and prove it, there's no issue.

[carolott]

Originally Posted by hairmetal4ever

It's illegal if there's no basic reason for the increase in value. If you legitimately buy under market, improve it, and prove it, there's no issue.

Ah, thanks for the clarification. I always considered "flipping" to be the first scenario, not the second.

[ReefAreCoolToo]

Originally Posted by Streetchie

Perhaps not a scam, but the house-flipping party is over in Baltimore. Most experts will tell you that prices will likely be on the decline until 2010 or so.

Baltimore market is different from them Cleveland, or Miami market.
Cleveland has no industry left, and Miami there is no basic on holding a high house values beside them boomers went down there to retired. But then, they started to migrate back and move to North Carolina instead. This is why North Carolina become hot state for a lot northern transplants and boomers. However NC infrastructure is not ready for such a huge migration and influx of populations from other states. Traffic is become ****e, tax increases, water shortage and so on. This is why there is a lot resentment for those already there or originally from there against those plan go. You get the idea..it's a cycle

Because Baltimore is strageticaly near DC, there is always jobs in this region, no doubt about that. Fed, State, County local jobs are abundant and most of them are really don't affected by the economy as it's critical infrastructure.
With block flipping, you can definately gentrification of the neighborhood faster than house to house.

[rudy_d]

Originally Posted by hairmetal4ever

It's illegal if there's no basic reason for the increase in value. If you legitimately buy under market, improve it, and prove it, there's no issue.

There's nothing illegal about buying a house for a certain price and then trying to resell it for a higher price without putting any improvements into it. You're just unlikely to attract a buyer/sucker.

Illegal flipping involves fraud (i.e., paying off an appraiser to give an inflated appraisal, paying a building inspector to give a house a clean bill of health, covering up serious problems with cosmetic fixes, etc.).