I just wanted to know from your experience what are some good areas in Maryland to invest in for cash flow? I am looking into buy and hold investing and would like at least $250 cash flow from an investment property. Any tips/advice you may have are greatly appreciated!
If cash flow is your main objective then Hagerstown is a good area to start with. I would suggest you spend extra time with your screening process in Hagerstown but $250 a door is very achievable in Hagerstown. You can also do well in Frederick. Unlike Hagerstown, Frederick stands the chance of appreciating so depending on your short and long term strategy that may be a good market to check out as well.
I often invest in PG County, but recently discovered a new area, Owings Mills, MD. My new niche is 2B/2B garden style condo within a good school district, low crime, great community amenities and finally, cash flowing properties. I only seek properties that do cash-flow on a 15yr mortgage, not 30. So when asking about cash flow, be specific as to whether the loan is amortized over which term. Anyways, Owings Mills properties do cash flow about $400/month ON a 15yr mortgage, ie. after interest taxes, insurance and Condo fees are paid. If your interest is on long term financial stability, and you redirect all this cash flow towards the principle payment, you may be free and clear in about 9yrs or so.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing