The Baltimore Carpenter's Project

The work of the BCP is not to become another institution in which the public can rent properties for their housing needs. The idea of rehabbing properties in Baltimore city to rent them to our neighbors is opposite of what we want to contribute to the community. To be clear, we are not opposed to real estate investors and rental properties in general; however, we understand that rental properties create wealth through equity and cash flow for the owner of the property. Accumulated wealth is then passed down to the descendants of the property owner. Generally, we refer to this process as generational wealth building. 

This concept does not just apply to those who have excess capital or access to lines of credit. This wealth building process should be accessible to the general public. In some sense this is true, but in many cases the average citizen is priced out of participating in the housing market due to a variety of reasons. It is not our intention to blame any individual, entity, or municipality for the lack of access to affordable housing; however, it is our expressed purpose to be a part of the solution. 

So, what is the solution? The short answer is to develop a model in which to put homes in the hands of the low and middle-income citizens without creating an additional burden for those who already own property. 

Through a nonprofit structure, the BCP can rehabilitate vacant properties and sell to the public at cost or lower. How is this possible? A nonprofit is not required to operate like for-profit entities. Through grants and donations from the general public, BCP can do its work without the pressure of being profitable. This is only possible with external support. This structure does not create any additional burden on current owners of Baltimore as donations are strictly voluntary. In addition, homeowners who donate to our work are indirectly investing into their own properties. Blight and dilapidation near their properties has a negative impact on their property value. Consequently, their support translates into increased property value. 

The impact of such work can only be positive for low and middle-income families. First, being able to sell homes at cost or lower, makes homeownership achievable for the average. Rather than renting which is an outward flow of income, these families will have an opportunity to build equity. Homeownership can create the following positive outcomes:

• Increase access to lines of credit through equity
• Reduction and/or stabilization of monthly expenses 
• Reduction of stress through housing stability
• Decrease expenses during retirement if the house is paid-in-full
• Access to tax benefits
• Convertible into income stream in the future 
• Reduction of housing expenses to homeowners descendants 
• Stakeholdership in the community 
• Ability to use as office space for startup business

The previously listed does not include all the ways homeownership can impact a family or individual’s ability to build wealth. Obviously, the ability to build wealth has a generational impact. Wealth accumulated is typically left to the descendants of the wealth-builder providing a platform in which to build more wealth and become philanthropic. The end result can only be positive for families and the local economy.   

In order to create real opportunities for the people of Baltimore, we must do more than complain about the economic disparities that exist in our communities. Rather than give lip-service to the need for change, BCP was created to be an active part of changing the economic outcome of families in Baltimore. 

There are plenty of ways to be a part of the change needed to make the lives of Baltimoreans better. One way is to support the work of organizations like the BCP. We invite you to read more about our vision for this work by exploring our website further. After reading more about us, if you are inclined to donate, you may do so via the link below.