OUCH! That's "Billion" with a "B!"

Can anyone out there looking a real estate investing in the greater Baltimore area spell "O P P O R T U N I T Y" ?!
Baltimore-area 'distressed’ properties hit $1.8B - Baltimore Business Journal:

Cool new site if you've got a property to sell at a discount.

If you have a property you need to sell, consider offering it up on a new site that promises to feature a great deal each week:
    Property Deal of the Week

Property Deal of the Week is a real estate site dedicated to highlighting one really fantastic property deal each and every week.

Check it out.

Padmapper maps pads - MUST SEE TV

Now this is a very cool tool. Wish I'd thought of it.

http://www.padmapper.com/

Just type in an address, or your neighborhood, or a city name -- and instantly see a Google map with a push-pin showing every "pad" for rent in the surrounding area. Click on a pin, see the actual ad from Craigslist or Apartments.com... play around with the filters to narrow your search.

Way cool.

Landlords might like this because it shows at a glance what you're competing with trying to rent your place out. Be competitive from the git-go by surveying your area first, then setting the rent. Etc. Many uses, I'm sure.

Great time to be a cash-holding auction goer

I see articles like this and am reminded of the song "If I Had $1,000,000" by Barenaked Ladies. It starts out, "If I had a million dollars, if I had a million dollars, well, I'd buy you a house. I would buy you a house." Catchy tune...

Yeah. Well, on Aug 17, at an auction in Howard County, a million dollars won't buy you a house. They haven't been built. But it might get you a couple of  million dollar home sites. Read and weep.

31 properties of Dale Thompson Builders set for auction

Investigative Inspector

I just stumbled across this site and found it useful after a quick reading. Might be one to bookmark and check back from time to time. Enjoy!

House Detective: Barry Stone

Known today as "America's House Detective," Barry advises readers from coast to coast about home inspection and real estate disclosure, providing honest clarity, fresh wit, consumer protection, and even-handed fairness in his responses to real estate questions.

Whoa Nelly! Could Barclay be the next "Canton" (sans waterfront!)?

Barclay redevelopment project could start next year - baltimoresun.com

The overall plan calls for $85 million in redevelopment of vacant lots and vacant and rundown rowhouses, including some public housing, in the Barclay/Midway/Old Goucher neighborhoods. It would be built in four phases over a decade and include rentals and homes for sale among an estimated 322 units. The area is bounded by North Avenue, 25th Street, North Calvert Street and Greenmount Avenue.

Foreclosure...good news...?

Maryland Daily Record

Maryland as the 15th-worst state in the nation for foreclosures, with 18,112 homes, or 0.78 percent of the state’s total housing stock, in some stage of the process

Bill Walsh to be in town

This week's MAREIA meeting should be a good one.

The featured speaker is none other than Bill Walsh, the international entrepreneur, marketing expert and business success coach. It is to be my distinct pleasure to be his personal driver for the evening, during which time I hope to get some freebies from him. At least a marketing tip or two. I'll report back here for sure, so stay tuned.

For more on Bill Walsh, visit his site at BillWalsh360.com. For details about Monday night's meeting (or to reserve a seat), go to MAREIA's event page.

See you there!

Cass

Looking for buyers!

Obviously every real estate investor is looking for sellers. The proverbial "highly motivated seller" please. Lots of them!

But this investor is also looking for buyers. Also, lots of them!

I have been trying to sell my house for about 6 weeks now. This week I broke down and listed it on the MLS. I do NOT want to become a highly motivated seller! So please, buy my house! Or at least, send this to a buyer you know.

Details, pictures, and a video walk through available on my selling site, SellHouseBaltimore.com.

Cass

Real Estate Marketing Tips Investing Guide

This is definitely something to check out if you're wondering how to get started in real estate investing. Lots of great content for free, all it will cost you is your email address.

Please check it out, then come back here and tell us what you think:

Internet Marketing Tips for Real Estate Investors

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Psst, hey buddy, wanna buy a house? Cheap!

I knew it was bad, but I didn't know it was THIS bad.

Baltimore homes are forecast to deflate an average of 11.9% in 2009.

Ouch.

Read more here:

Maryland Housing, Baltimore, Bethesda, Columbia, Silver Springs

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Great time to get into commercial real estate! Or not...

I have been wondering recently how office building owners manage to keep tenants. It seems with the "economic slowdown" in full force, more and more companies are trimming staff and need smaller places to work. Vacant offices are everywhere.

Now my favorite weekly business news rag has details:

Greater Baltimore’s office market is poised for the third consecutive year of declines, with low demand pushing up vacancy rates and driving down rental rates.

For Greater Baltimore’s office market, third time isn’t so charming - Baltimore Business Journal:

Ah, real estate....

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U.S. Attorney leading crackdown on mortgage fraud in Maryland

Awesome. All's I can say is, you GO girls!

This is good news for the honest folk, bad news for the scam artists. New agency...

"...will focus not just on fraudulent mortgage consultants but also the
network of lawyers, accountants, and appraisers who aid them in
swindling money from residents at risk of losing their homes to
foreclosure."

Story here from the BBJ:
U.S. Attorney leading crackdown on mortgage fraud in Maryland - Baltimore Business Journal:

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Ten Mortgages for One Borrower? Really?!

I heard the rumors, and decided to find the actual truth. Here it is:

Fannie Mae [will] allow investor and second home
borrowers to own five to ten financed properties
if they meet certain ... requirements.

Awesome! No more "four's the limit" stuff! This is great news for many of us...as long as you get past the fine print.

Details here straight from the horse's Fannie.

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If You Wholesale, Protect Yourself

I just discovered the Field Guide for Real Estate Investors, at REITactics.com, and it looks like they have a lot of great information on their site. I especially like the analysis of the 50% rule for commercial properties. In summary, "the 50% rule of thumb is a very useful tool for an investor to use when evaluating a property to purchase when the rental amounts are under $1500 per month."

Learn more about that one here.

As a wholesaler, I found this item particularly insightful. Key concept: "Know what your real obligations and liabilities are before you joyfully think you are no longer part of the deal. Then take appropriate steps to limit your continuing liability in the transaction."

A recommended read. More at the link below:

If You Wholesale, Protect Yourself

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Maryland expected to gain 66,000 jobs through stimulus bill

Maryland expected to gain 66,000 jobs through stimulus bill - Baltimore Business Journal:

http://tinyurl.com/breetd

This SHOULD be good news for our real estate market: 66,000 people either newly able to buy or able to stay in their homes. Possibly even some moving into the area...?

Hopefully this number is above and beyond expected BRAC growth.

Cass

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House for sale! MY house for sale! Make me an offer I can't refuse...

Baby steps; Zillow is the only place it's listed right now... I will be adding pictures soon.

No, it's not listed with a broker, and please, any realtors seeing this, don't ask, I plan to go the FSBO route. I am open to suggestions about how to FSBO well, however. This is my first time.

702 Manchester Rd, Baltimore, MD 21229 - Zillow

If the link doesn't show "For Sale", it's cause I dun sole it!

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Great Intro to the Commercial Real Estate World

Although I don't have any direct Commercial Real Estate experience -- yet -- I am an avid student of the topic and have been for some time.

I had a great conversation with Pete Conti last fall, and I have worn out my autographed copy of Commercial Real Estate Investing For Dummies. I recommend it highly to newbies needing to learn the concepts.

I know nothing about his mentoring or teaching programs, other than he has some. Would love comments below from any students who wish to share.

Go get it!