Good areas to invest in Maryland and DC

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Good areas to invest in Maryland and DC

Alexis Nworah
Member since 2019 · 11 posts · 1 vote

Good morning ladies and gentlemen!

I am new in this forum. I am interested in buying a rental property in the next few months. I live in Maryland.

Please, can somebody tell me the good areas to buy rental properties in Maryland and DC? Ellicott city, Baltimore, Columbia in Maryland? Also, where can I buy properties in DC that will be “hot” for renting?

Thanks in anticipation!

Alexis

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Yannik Cudjoe-Virgil
Rental Property Investor · Baltimore, MD · Member since 2016 · 253 posts · 178 votes
7y

@Alexis Nworah you can look at downtown baltimore: Canton, Federal hill, etc. There are alot of development in the core of baltimore that is going to drive demand particularly in the south baltimore market. Especially as port covington plans to do some development in South Baltimore

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  • Dan Bernstein
    Real Estate Agent · Alexandria, VA · Member since 2014 · 184 posts · 78 votes
    7y

    @Alexis Nworah - this depends on your budget as to where would be a good place to buy.  

    0Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    @Dan Bernstein, thanks for your reply.

    Ok, let's say one can drop 10 - 20% of the price of units in the 200- 300K range, and may be one in the 400k Range that will give good ROI. Please, where in Maryland do you think houses / apartments will be rented as soon as listings hit the MLS? Where do you think people renting will stay longer all things being equal?

    My intention is to add 3-4 units every year.

    Thanks once again!

    0Reply
  • Yannik Cudjoe-Virgil
    Rental Property Investor · Baltimore, MD · Member since 2016 · 253 posts · 178 votes
    7y

    @Alexis Nworah it depends on your budget. If your looking to be all in about 50k then baltimore may be the best bet. Anything 100k + will be in DC. 

    0Reply
  • Yannik Cudjoe-Virgil
    Rental Property Investor · Baltimore, MD · Member since 2016 · 253 posts · 178 votes
    7y

    @Alexis Nworah you can look at downtown baltimore: Canton, Federal hill, etc. There are alot of development in the core of baltimore that is going to drive demand particularly in the south baltimore market. Especially as port covington plans to do some development in South Baltimore

    4Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    Hi Yannick,

    Thanks for your response. I will surely look at those when I am ready. Targeting November and December this year. 

    Thanks once again!

    Alexis Nworah

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  • Ozzy SirimsiBusiness Member
    Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
    7y

    In Baltimore, popular areas like Canton and Fed Hill will not bring much cash flow so your ROI will be very low unless you want to do renovations.

    You can invest in mid level neighborhoods like Morgan State area, some parts of Charles Village, Higlandtown so you get a decent renter and get a good ROI.

    1Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    @Ozzy Sirimsi, thank you so much! I appreciate.

    Alexis

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  • Account Closed
    Real Estate Investor · Waldorf, MD · Member since 2014 · 592 posts · 320 votes
    7y

    Anywhere in DC you should be good.  SW, NW and NE.  SE is still turning but you can still find some great spots.

    0Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    @Lamont Marable

    Thanks for your response. Please, what would you advise someone to acquire in DC? SFH or MGH? Condors, etc?

    Additionally, I heard that there are high crime areas in DC.

    Thanks once again!

    0Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    @Lamont Marable

    Sorry, I meant SFH or MFH?

    0Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    I prefer Silver Spring, Rockville, NW & NE DC, Frederick.

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    1Reply
  • Alexis Nworah
    OP
    Member since 2019 · 11 posts · 1 vote
    7y

    @Russell Brazil Thank you for your recommendation. I will have these areas in mind when I am ready to start in the next few months. Thanks once again.

    0Reply
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