What Most Investors Get Wrong About Baltimore with Alex Aaron

You're right, because that's really looping into why choose Baltimore.

You're from Northern Virginia.

You went to New York.

Why did you come to Baltimore? That's a good question.

I get that a lot.

Well, I consider myself one who takes risk, but I like to take calculated risk, not blind risk.

And what I mean by that is when I was assessing the markets, I looked from Boston

down to Virginia.

Oh, and what I noticed

was Baltimore was one of the last emerging markets on the East Coast.

So to a certain extent, New York was done, Jersey was done,

D.C. was done, Philly was done, you name it.

But Baltimore still had a lot of opportunity.

And specifically, having lived in D.C. and New York, I was adamant about truly practicing development of displacement.

Other cities, you're buying over inventory.

Most of it's done.

So now you're having to maybe buy people out, push people out.

In Baltimore, there was a vacant property.

At that time, I believe it was like 16,000.

We're down to about 11,000 and change vacants.

But at the time, it was about 16,000 vacant units.

So I knew I could enter this market.

I can make a difference.

Entry level's low.

And I didn't have to displace anyone.