GENERAL INFORMATION FOR INVESTORS IN MARYLAND

We have dedicated team members who work with Investors when buying or selling.

OUR SERVICES OFFERED

• Locating investment properties
• Selling investment properties at low cost.
• Providing buyers assistance at buying auction properties
• Locating lots for builders
• Investor Property Selling Assistance
• Help to establish your Real Estate Portfolio
• Managing Projects from Start to Finish

LOCATING PROPERTIES

FORECLOSURES

HUD Properties – The U.S. Office of Housing and Urban Development offers foreclosure properties for sale throughout the U.S. HUD sells properties through its contractor, Homesource. All contracts must be submitted online through a licensed real estate agent.

Available Properties - http://hud1.towerauction.net/MD.htm

VA Properties – The Department of Veteran’s Affairs offers foreclosure properties for sale through the Ocwen Financial Corporation.

Available Properties - http://www.ocwen.com/reo/reocitylist.cfm?statechosen=MD

SCOPE (Baltimore City Owned Properties) – (Selling City Owned Properties Efficiently) Baltimore City has partnered with the Greater Baltimore Board of Realtors to sell City Owned Properties.

Available Properties -http://www.baltimorehousing.org/index/ps_5000.asp

Baltimore City Tax Sale Properties – Each year Baltimore City gives investors the opportunity to purchase city property tax sale liens.

Tax Lien Certificates Online - http://www.tlcol.com/tlcol/md/baltcity.nsf

Fannie Mae Owned Properties – Fannie Mae provides properties for sale through the Fannie Mae web site.

Available Properties - http://www.mortgagecontent.net/reoSearchApplication/fanniemae/reoSearch.jsp

Freddie Mac Owned Properties – Freddie Mac provides properties for sale through the following web site.

Available Properties - http://www.homesteps.com/hm01_1featuresearch.htm

AUCTIONS
The following auction brokers offer properties for sale throughout Baltimore City.

Express Auctions – http://www.expressauction.com
Alex Cooper Auctioneers - http://www.alexcooper.com/
A.J. Billig & Co. Auctioneers – http://www.ajbillig.com

ESTIMATING PROPERTY VALUES / RESEARCHING PROPERTY OWNERS

Maryland State Department of Assessment & Taxation – The Maryland State Department of Assessment and Taxation maintains a detailed database of every property in the state. The state web site can be used to research the sales price paid for a property, the current owner of a property and the current assessed value of a property.

Real Property Search - http://sdatcert3.resiusa.org/rp_rewrite/

Baltimore Sun - The Baltimore Sun maintains a database of recent property sales accessible through the Sun web site.

Home Sales Database - http://www.baltimoresun.com/business/realestate/bal-homesales2005,1,6534360.formprofile?coll=bal-realestate-utility

FINDING CONTRACTORS

Investing in Baltimore City properties often requires the use of a contractor for house rehab or repair.

Homebuilders Association of Maryland – The Homebuilders Association of Maryland maintains a detailed list of their members.

Homebuilders Association of Maryland Web Site - http://www.homebuilders.org/

CITY BUILIDING PERMITS & INSPECTIONS

Baltimore City Building Permits Office
417 E. Fayette St., Room 100
Baltimore, MD 21201
Phone - 410-396-3360
Email - DHCD_Permits@baltimorecity.gov


Permit Information - http://www.baltimorehousing.org/index/permits.asp
Filing Requirements - http://www.baltimorehousing.org/index/permit_requirements.pdf
Frequently Asked Questions - http://www.baltimorehousing.org/index/permits_faqs.asp
Permit Fees - http://www.baltimorehousing.org/index/permits_fees.pdf
Permit Application Form - http://www.baltimorehousing.org/index/permitapplication.pdf
Plans Review Procedure - http://www.baltimorehousing.org/index/permits_plans.asp

CONTRACTOR LICENSING

Check to see if your Baltimore City Contractor is Licensed or has had any Complaints filed against them – Click Here

INVESTOR FINANCING

TYPES OF LOANS

The following investment products are popular with investors:

FHA 203k Loan The FHA 203K loan provides cash for both the purchase of a property and improvement of that property after the purchase. FHA 203K loans enable the borrower to finance a first mortgage home improvement loan based on the total anticipated “improved” value of the home. Borrowers receive a lump sum to purchase the property and installments as milestones are hit during the renovation process. The 203K loan is popular in many Baltimore neighborhoods due to the large number of rehabs.

5/1 Interest Only ARM The 5/1 Interest Only ARM provides the borrower with a fixed rate for five years and then adjustable rate for the remainder of the loan. This type of loan provides an extremely low payment but does not pay off any of the principal of the loan during the life of the loan. This product is excellent for investors buying rental properties in rapidly appreciating areas, who wish to hold their properties for a short term, and desire a low monthly payment that can easily be covered by the rent received from the tenant.

LENDERS

Lenders – It is important to work with a lender that has experience in working with rehab and rental properties in Baltimore. The Lender’s experience in recommending products, choosing appraisers, and structuring the loan will make all the difference in helping make the investment successful.

Featured Lender Baltimorecityrealestate.com’s featured lender, First Horizon Home Loans, specializes in working with investors and can provide information on these products and others that work well for investors. For a free credit report and instant approval, contact Pete O’Donnell / First Horizon Home Loans – 1 800-801-7657.

LANDLORD RESOURCES

Tenant Screening – Tenantfacts.com offers credit checks, background checks, and late rent reports. Visit their web site - http://www.tenantfacts.com/

Rent Notices – Rentnotices.com can provide eviction and late rent notices as well as representing landlords at rent court. Visit their web site - http://www.rentnotices.com/