Investing in real estate outside of where you live can seem like a daunting challenge. After all, hands-on rental management isn’t simple from a distance for solo investors looking to cross state lines and begin growing a portfolio of Maryland rental homes.
Yet, with the right tools and the right community, it's possible to find exactly what you need for your portfolio to thrive—and even achieve more than you thought possible. Renters Warehouse BW Metro helps investors take advantage of the growing and profitable market right here in Baltimore as a Maryland property management company.
When Your Current Rental Market Is Weak
One of the most common reasons investors turn to other communities is because their local market isn’t producing or offering the opportunities they desire to expand their holdings. If your current real estate market isn’t yielding the kind of rental homes you desire to grow a strong, healthy portfolio, consider investigating the Baltimore, Columbia, or Annapolis rental markets!
Look at Baltimore, for example.
- The real estate market as a whole is thriving here as residents continue to seek out new opportunities.
- Median home prices are up, the time on the market is down, and mortgage rates remain highly competitive locally.
- That’s encouraging buying and driving home values higher—providing investors with faster access to equity.
There are a few other appealing reasons to invest in Baltimore real estate.
- The median listing price for a home remains affordable in many areas at just $200,000. At this time, there were nearly 4,200 homes listed for sale, with home prices as low as $1,000 and as high as $12.5 million.
- That provides a wide range of opportunities to find the right price for your needs. With 225 neighborhoods, this city has much to offer to potential Baltimore rental property owners.
Why Spread Your Investment Area?
As a Maryland property management company, we recognize the importance and value of providing an exceptional level of support to our clients who live and operate out of state. It’s not uncommon for investors to turn to highly profitable communities like Baltimore, Columbia, or Annapolis to build their investment portfolio. This is an excellent way to build wealth where the markets are strong.
Consider, for a moment, your current investment strategy close to home.
- Is your profit margin enough to build true wealth?
- How many properties do you need to own to achieve your financial goals?
- How much hands-on work are you doing to manage these investments locally?
Choose the Right Location for Your Specific Needs
- To make investing out of your community the right decision for your needs and portfolio growth, you must do your due diligence.
- This means researching the region’s rental property market as well as navigating some of the best neighborhoods.
- You may also need to learn about average rental price, home prices, and availability of the type of property that interests you as an investor.
Then, you need to pair down the region into a city and neighborhood that’s best for your goals. There are several key factors to consider before choosing a community. A good location needs to be:
- Centrally located where renters are interested in living
- In a neighborhood that’s clean, maintained, and desirable to the area’s residents
- Offering property types right for your goals, such as single-family homes or multi-family units.
There is a lot of research that needs to be done. Luckily, you can do it all online for the most part.
To make it even easier, allow our Maryland property management company and our Rent Estate™ Advisors to handle all of this work for you. We can help you find the exact property that fits your specific goals and needs.
Property Management Services Make Long-Distance Investing Easy
Once you find the right Maryland rental property, you can trust the property management services of Renters Warehouse to manage it for you. That’s a hands-off benefit to many of today’s investors who want to be able to develop a successful portfolio—without having to do the hard work of managing renters, navigating repairs, and being called in the middle of the night.
With the help of a Maryland property management company, you can invest with confidence out of state. That includes investing in property that is a better fit for your portfolio in high-demand cities like Baltimore, Columbia, and Annapolis. Our Rent Estate™ Advisors work with you to find the ideal property to fit your needs, manage repairs and upgrades, handle specific renter searches, and aid in keeping your property in the best condition possible.
When you utilize a service like this, you open the door to creating an investment portfolio that is better suited to your short-term and long-term goals. Why not find out just how much of an opportunity this can be for your needs?
Learn more about the benefits of growing a portfolio with property management services when you download your free copy of our guide!