Two months ago, Jay Walsh was comparing Baltimore’s housing market to crack cocaine for investors. On Tuesday, his company filed for bankruptcy.
ABC Capital Investment LLC has been one of the most aggressive homebuyers in Baltimore in recent years. In an investigation published in October, The Baltimore Sun identified more than 140 homes purchased by ABC Capital since 2019. Walsh said his firm has actually bought about 1,200 homes since 2015, selling most of them to foreign investors and using third-party companies to manage them.
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“If you wanted to give investors a drug, Baltimore’s the drug,” Walsh said. “Some people, they think it’s easy. It’s not easy. It’s not easy at all. But if you’re willing to put in the work, I think it’s a diamond in the rough, even with the rats.”
Click here to read the rest of the article written by Giacomo Bologna over at The Baltimore Sun
