Is Baltimore a good market for multi fam investment

Baltimore, Maryland
Market Trends & Data
2yFollow

Is Baltimore a good market for multi fam investment

Shaheen AhmedPro Member
Contractor · Los Angeles · Member since 2023 · 80 posts · 55 votes

Is Baltimore a good place to invest in multi family? I’m a new member and thinking about getting in to multi fam investment properties. I am in Los Angeles area and SoCal is way out my reach. Thanks in advance. 

0Reply
53 views

Most Popular Reply

Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
2y
Quote from @Shaheen Ahmed:

Is Baltimore a good place to invest in multi family? I’m a new member and thinking about getting in to multi fam investment properties. I am in Los Angeles area and SoCal is way out my reach. Thanks in advance. 


 Baltimore is a difficult market to invest in long distance. Lots of regulation.  Class A areas adjacent to Class F areas makes it difficult to understand the quality of the area you are buying into. Strict lead laws. Strict landlord/tenant laws.  Just go in eyes wide open to the risk of the market.

[email protected]301-893-4635Podcast Guest on Show #192
District Invest Group545 Reviews
WebsiteView Page
2Reply
See this reply in the discussion

10 Replies

Jump to latestLatest
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    2y
    Quote from @Shaheen Ahmed:

    Is Baltimore a good place to invest in multi family? I’m a new member and thinking about getting in to multi fam investment properties. I am in Los Angeles area and SoCal is way out my reach. Thanks in advance. 


     Baltimore is a difficult market to invest in long distance. Lots of regulation.  Class A areas adjacent to Class F areas makes it difficult to understand the quality of the area you are buying into. Strict lead laws. Strict landlord/tenant laws.  Just go in eyes wide open to the risk of the market.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    2Reply
  • Erin AzarPro Member
    Rental Property Investor · IN · Member since 2021 · 47 posts · 36 votes
    2y

    I would suggest visiting Baltimore yourself to determine its potential. It is a challenging market to manage in and predict its future. I think there are other similarly priced markets that are much more appealing.  

    0Reply
  • Shaheen AhmedPro Member
    OP
    Contractor · Los Angeles · Member since 2023 · 80 posts · 55 votes
    2y
    Quote from @Erin Azar:

    I would suggest visiting Baltimore yourself to determine its potential. It is a challenging market to manage in and predict its future. I think there are other similarly priced markets that are much more appealing.  


    0Reply
  • Shaheen AhmedPro Member
    OP
    Contractor · Los Angeles · Member since 2023 · 80 posts · 55 votes
    2y

    Thanks for your reply,

    You mentioned other markets, please elaborate on that a bit. 
    thx

    0Reply
  • Vladimir Virtualkin
    Finksburg, MD · Member since 2021 · 5 posts · 1 vote
    2y

    @Shaheen Ahmed

    I'm from here. Its not bad if you know the area. A lot of huge houses converted to mf.

    But as others said strict tenants laws. May take some time to evict. Again not always difficult if you know how to do it right

    1Reply
  • Tim JacobPro Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 520 posts · 379 votes
    2y

    Get a local agent that knows what they are doing and get something that's close to turnkey.  Have realistic expectations on infrastructure improvements of old buildings and if they will be needed.  Get something in an A or B class area and a good agent and you should be able to tell whether they are good during a time as a buyer representative and they can then lease it for you and you might be able to manage remotely and save on the pm fee or a pm company will take it on.  You get in to lower stuff because it's cheaper and you do this enough and your going to run into going to court for non payment.  A pm company will not take on a D grade asset and if C grade will not save you from the bad tenant related costs.  The way things are progressing I would recommend avoiding that entirely.

    1Reply
  • Leslie Pappas
    Professional · San Francisco, CA · Member since 2014 · 876 posts · 301 votes
    2y
    Quote from @Shaheen Ahmed:

    Is Baltimore a good place to invest in multi family? I’m a new member and thinking about getting in to multi fam investment properties. I am in Los Angeles area and SoCal is way out my reach. Thanks in advance. 

    Hi Shaheen, there plenty of other opportunities out there, my clients are involved in institutional grade properties across the country. My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth. It can also be safer to diversify your investment properties across the country. There is still good money to be made in AZ, FL, GA, TX and other states, however, picking the right submarkets is key.

    A very good source of local analysis is rereport.com

    0Reply
  • Mark Cruse
    Investor · Fort Washington, MD · Member since 2014 · 1k+ posts · 1k+ votes
    2y
    Quote from @Russell Brazil:
    Quote from @Shaheen Ahmed:

    Is Baltimore a good place to invest in multi family? I’m a new member and thinking about getting in to multi fam investment properties. I am in Los Angeles area and SoCal is way out my reach. Thanks in advance. 


     Baltimore is a difficult market to invest in long distance. Lots of regulation.  Class A areas adjacent to Class F areas makes it difficult to understand the quality of the area you are buying into. Strict lead laws. Strict landlord/tenant laws.  Just go in eyes wide open to the risk of the market.

    Eventually I will be in the hunt. 
    I know Hagerstown. 
    What do you think about Fredrick or Bmore County for multis? 
    0Reply
  • Tim JacobPro Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 520 posts · 379 votes
    2y

    BMore county can be good.  I would try to stay within the beltway as you go too far out you will deal with less of a tenant pool.  Taxes are much cheaper than the city.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free