THE
CHALLENGE
JBL’s initial foray into the real estate market was to purchase “unloved”
single family rental properties, renovate the houses, rent each one
for at least a year, and then sell the properties. Within the first
year, the company acquired twenty properties, including Portugal Street.
JBL concentrated acquisition efforts for property particularly in Hampden
and Towson. Hampden is a transit-oriented working class neighborhood
strategically located equidistant from the city’s central business
district and Baltimore County. Additionally, it is a destination location
with a growing shopping core. Hampden is located within five minutes
of hospitals, schools, and several universities, including Johns Hopkins
and Loyola. Towson, the county seat of Baltimore County, has similar
demographics. JBL has purchased thirteen properties in these two areas.
FINAL RESULT
Seven out of thirteen properties have sold for a profit of over one
half million dollars on an initial investment of $455,000. All of the
homes were rented with a positive cash flow for at least one year.
JBL personnel renovated all of the units. There are six properties
remaining - some rented and others being developed for Boutique apartments.
In total, JBL has 10 rental homes in service at this time.
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