Are you planning to buy an investment property right here in Maryland? If you are, you are probably asking yourself – what are some of the best places for real estate investors in Maryland – right?
Well, we have some good news for you. Maryland is a state full of areas that promise a significant ROI (return of investment). Here, you will be able to earn a passive income and grow your wealth as an investor. But, to do that, you must play your cards right! First, you must do thorough research on different areas in Maryland (cities, neighborhoods, streets, etc.), compare them to one another, and decide which one has the best investment potential. This sounds complicated, but don’t you worry! We are here to help you out! Today, we will talk about some of Maryland’s best places for real estate investors.
First on our list of the best places for real estate investors in Maryland is the town called Eldersburg. This town (or big neighborhood – as some people like to call it) is relatively small and rural, so it’s perfect for people who want to enjoy a safe and peaceful kind of lifestyle. But, don’t mistake this town for a village just because of that. Eldersburg has all the amenities one would need in a city. And, even if something is lacking, bigger cities such as Baltimore and Frederick are just a few miles away. If you want to start a real estate business in 2022 and purchase your first real estate investment in Maryland, you can’t go wrong with Eldersburg! Its location is ideal. Families, the elderly, and business people are all looking for a home here. So, if you invest in one, be sure that you can either rent it out or resell it for a higher price.
Another major hit when it comes to the best places for real estate investors in Maryland has to be Ellicott City. This city is also located very close to Baltimore and D.C., which residents can access using the I-95 and I-70 lines. All neighborhoods in Ellicott City are packed with amenities – malls, supermarkets, restaurants, coffee shops, clubs, banks, hospitals, parks, etc.
As an investor, here, you can choose between different properties. But we strongly advise you to consider properties in new planned communities or apartments in buildings as those are currently the most wanted ones among buyers. Moreover, those same buyers (especially those in buildings) are also looking for storage facilities! Self-storage is great for investors, as it, among other things, offers amazing profit potential. Thus, consider this option too! That is, consider investing in a storage facility that you can rent out to your renters or some other residents of Ellicott City.
Columbia, a city in Maryland, may be just the right place for risk-free real estate investments. If you invest in a property here, be sure that you can rent it out or resell it as soon as you list it. This is because Columbia has a very desirable location – it is nestled in a safe, secluded area but still an area that is very close to Downtown Baltimore where all the action happens. This is definitely one of those real estate trends to look out for this year! Moreover, what makes this city so desirable is the fact that it comprises ten separate neighborhoods full of attractions for people from all walks of life. And it puts a significant focus on healthy living. That can be seen in all the restaurants specializing in healthy foods, gyms, recreational centers, and of course, in all the well-maintained outdoor areas such as Cedar Lane Park, Symphony Woods Park, Centennial Park, and Middle Patuxent Environmental Area.
If you are a type of investor that wants to bring old townhomes back to their old glory, the city of Mount Airy might be the one for you. This city, being an older one, is full of homes that were built many decades (even centuries) ago. They do require some renovations but be sure that you will be able to resell them for a higher price after upgrading them. However, when renovating the homes, you should also try to preserve their spirit as much as possible. Do some research on the surrounding area and try to build accordingly. If you are not from Mount Airy, it would be best to relocate here while the work is ongoing. Somebody needs to supervise the handymen, after all. But, don’t worry, as long as you hire professional long-distance movers, you can have an easy transfer across the state.
The final place for real estate investors in Maryland on our list is Sykesville. According to real estate news, this city also goes by the name the “Coolest Small Town in America”. If that doesn’t make people move to Sykesville and buy/rent property from you, we don’t know what will!
Sykesville is great for all people who enjoy close-knit communities and all the benefits of living in a small town but also want to be close to all the hustle and bustle of big cities. People buying a house in Maryland will have the best of both worlds here! Sykesville will offer them serenity, and when necessary, it will offer them proximity to all the action. Hopefully, this article has helped you decide what some of the best places for real estate investors in Maryland are. But, don’t stop here! Do your own research again! It would be best if you were absolutely sure that the investment property you plan on buying will be lucrative.