New From MOCO Maryland!

[Sovat C.]

I accidentally thread jacked another members post, rookie mistake!!  Let me try again :)

Hello All! I'm new to BP but have been reading quietly on forums and listening to the webinars! I'm fairly new to REI but as it turns out I was an investor with out even knowing it (house hacking)! Now I want to get my feet wet with multifamily investment ASAP! I'm now residing in Bethesda, MD but work in Gaithersburg MD. I'm looking into investing in Hagerstown and Frederick area as my research and from other BP members have suggested allow for good cash flow with lower capital investment.

With that said are there any RE agents or wholesalers you recommend for those markets? Let me know if anyone wants to meet up and chat! Any advice, referrals or comments will be rewarded with beer (if that's allowed on BP)!

Happy Friday ALL! 

[Russell Brazil]

Originally posted by @Michael A Rytina:

Hello

I'm a new investor as well, and currently looking at a few properties out in Hagerstown 

Zip Code 21740

Russell - Can you please tell me why you don't think its a good area to invest in? 

Any insight is greatly appreciated. 

TY

Mike

 High poverty rate, poor tenant quality, very old stock of housing (which in itself isnt bad since I like DC) but combine that with poor tenants and you have high cap ex and repair costs, I anticipate much higher than normal vacancy and non payment rents in Hagerstown, virtually no appreciation and possible even risk to initial capital due to depreciation, .....just walk around the downtown there,...there is broker glass and garbage everywhere, and people high on meth walking around......really I just cant see any reason to invest there. The promise of a high return is just a mirage when you factor in all the costs. Id much rather be in a safer cash flow area that has some appreciation potential like Frederick, or just be in stronger appreciation areas with a little bit of cash flow like MoCo, or just straight appreciation plays like DC.