Baltimore’s real estate market is experiencing quite a bit of attention from investors recently. The economy has been experiencing slow but steady growth, making it a reliable choice to invest in real estate properties. The top industries that have been boosting the Baltimore economy are in areas such as healthcare, education (due to so many large colleges in the area), life sciences, and cybersecurity, but also the Port of Baltimore to a large extent. According to mashvisor.com, fix-and-flip investments proved successful for Baltimore real estate investors in 2017, 2018 and may continue through 2019. In fact, fix-and-flip investors boasted a whopping 96.6% average return on investment in 2017! This was supported by a year-over-year increase of investment property prices in excess of 2.4%. According to baltimorepostexaminer.com back in November 2018 the median home price in Baltimore was $237,855, much lower than some bigger real estate markets in the country, leaving investors with a lot of opportunity to expand their real estate portfolios.
Sharestates recently funded several blanket loans in Baltimore with properties in several different locations of the city. Several property locations are surrounding Druid Hill Park, a beautiful urban park in northwest Baltimore. Druid Hill Park, like Central park in NYC, is one of the oldest landscaped public parks in the US. Neighborhoods surrounding Druid Hill Park are known to feel suburban like in an urban city with good schools and smaller parks but also a good bar scene for the younger crowd. The following blanket loan was for a borrower acquiring the properties with the intention of adding value through renovations. The initial loan was for $2,745,000 with a rehab budget of $465,000. The properties in the blanket loan were all single-family residential properties.
- Loan Amount: $2,745,000.00
- Purchase Price: $2,095.029.52
- LTV: 58%
- LTC: 80%
- Average renovation budget: $465,000.00
- ARV: 47% or $5,825,000.00
For more information about other properties Sharestates has funded or to submit your upcoming projects to get funding click below.