Areas to invest in Maryland

Fort Wayne, IN · Member since 2014 · 40 posts · 14 votes

Hi all,

I am looking to invest in Maryland. I have researched Baltimore so far and numbers are good but I don't like the neighborhood. Can anyone recommend any areas outside of Baltimore, a bit nicer areas to invest? I am looking to buy small multifamily (3-4 units) then hopefully to larger multifamily in the future.

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Bill Kenny

Lender · Martinsburg, WV · Member since 2013 · 171 posts · 93 votes

Hi Amy, My business partner and I have multiple rental properties in Hagerstown and Martinsburg. We also host a local investor meetup that may be of value to you. Feel free to reach out when you're ready to start learning about this area. Bill

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Out of state investor looking at Baltimore? Prepare for juat about the worst experience of your life of you do.
[email protected]301-893-4635 Podcast Guest on Show #192
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Amy Zhang
OP
Fort Wayne, IN · Member since 2014 · 40 posts · 14 votes
6y
Not Baltimore. Any other areas do you recommend in Maryland/DC/VA for small multifamily ?
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Ika Sargeant
Real Estate Agent · Reston, VA · Member since 2017 · 295 posts · 163 votes
6y
@Amy Zhang This area does not have a lot of multi family. You have places like Baltimore, Hagerstown that have lots of these multi family but very tough areas. Otherwise you have to keep your ear to the ground for what pops up. I have seen duplex, quads in places like Frederick MD, Winchester VA and other places.
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Cristhian Huamani
Real Estate Broker · Hagerstown, MD · Member since 2016 · 36 posts · 47 votes
6y
@Amy Zhang I would not invest anywhere as an out-state investor without someone guiding me closely, via fellow investor or real estate agent. In my opinion, if you are looking for a market to buy and hold real estate in Maryland, The best markets for cashflow are Baltimore city and Hagerstown. There is a high demand for rentals and price per unit is low compared to other areas of the state.
I have a few properties throughout Hagerstown. I can certainly tell you that there are opportunities in the market. As always, you must have a competent property management company or have systems in place if you want to self manage.
If you have any questions in the Hagerstown market, feel free to reach out.

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Amy Zhang
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Fort Wayne, IN · Member since 2014 · 40 posts · 14 votes
6y
Originally posted by @Cristhian Huamani:
@Amy Zhang I would not invest anywhere as an out-state investor without someone guiding me closely, via fellow investor or real estate agent. In my opinion, if you are looking for a market to buy and hold real estate in Maryland, The best markets for cashflow are Baltimore city and Hagerstown. There is a high demand for rentals and price per unit is low compared to other areas of the state.
I have a few properties throughout Hagerstown. I can certainly tell you that there are opportunities in the market. As always, you must have a competent property management company or have systems in place if you want to self manage.
If you have any questions in the Hagerstown market, feel free to reach out.

I am looking to move to MD in near future and starting to do some research on which areas to invest. I would like to avoid Baltimore due to tough area. Hagerstown looks a bit better neighborhood and I see small multifamilies in Hagerstown and rest of Maryland seems to mostly have single family homes. I will reach out when I am close to investing. Thanks

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Bill Kenny
Lender · Martinsburg, WV · Member since 2013 · 171 posts · 93 votes
6y
Hi Amy, My business partner and I have multiple rental properties in Hagerstown and Martinsburg. We also host a local investor meetup that may be of value to you. Feel free to reach out when you're ready to start learning about this area. Bill
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Ozzy SirimsiBusiness Member
Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
6y
I don't know your budget but Charles Village has good amount of Multi Family housing, nice location, walkable, you just need to spend way more than 100K, or if you go north, there are nicer areas.
All you need to do is to spend more than average out of state investor.
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Matt Schelberg
Rental Property Investor · Baltimore, MD · Member since 2013 · 281 posts · 257 votes
6y
@Amy Zhang I would agree with @Russell Brazil about investing in Baltimore City from out-of-state. It is possible to succeed, but not likely. Unless you have a partner on the ground, stay away. Too many things can go wrong. Your management has to be perfect to succeed there. A high water bill or vandalism can crush you.
In addition to the others mentioned above, Baltimore County is a good option. Baltimore County surrounds Baltimore City and includes many working-class neighborhoods. Strong employment, steady population numbers. Lower property taxes, better tenants, and less crime. And easier to BRRRR. The price:rent ratios are still attractive.
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Amy Zhang
OP
Fort Wayne, IN · Member since 2014 · 40 posts · 14 votes
6y
Originally posted by @Bill Kenny:
Hi Amy, My business partner and I have multiple rental properties in Hagerstown and Martinsburg. We also host a local investor meetup that may be of value to you. Feel free to reach out when you're ready to start learning about this area. Bill

Thank you . I will
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Amy Zhang
OP
Fort Wayne, IN · Member since 2014 · 40 posts · 14 votes
6y
Originally posted by @Matt Schelberg:
@Amy Zhang I would agree with @Russell Brazil about investing in Baltimore City from out-of-state. It is possible to succeed, but not likely. Unless you have a partner on the ground, stay away. Too many things can go wrong. Your management has to be perfect to succeed there. A high water bill or vandalism can crush you.
In addition to the others mentioned above, Baltimore County is a good option. Baltimore County surrounds Baltimore City and includes many working-class neighborhoods. Strong employment, steady population numbers. Lower property taxes, better tenants, and less crime. And easier to BRRRR. The price:rent ratios are still attractive.

Ok. Thank you. I will look into Baltifmore County.

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