All Forum Posts by: Edward Holland

@Kyle Deutschmann

Thanks Kyle, I’ve heard about some of what you mentioned, but not all of it - that’s exactly the sort of insight I was looking for. I like Baltimore, I find it hard to believe that a city like that doesn’t have a bright future.  

Investment Info:

Large multi-family (5+ units) buy & hold investment in Hagerstown.

Purchase price: $730,000
Cash invested: $135,000

Mixed use commercial building. 2 commercial units and 6 residential.

What made you interested in investing in this type of deal?

I love the Hagerstown market - lots of institutional investment into the city in recent years and plans for much more. Residential units are in HIGH demand. I have 30 units in the area and nothing remains on the market for more than 48 hours.

How did you find this deal and how did you negotiate it?

Off market deal. negotiated a considerable amount of off original asking.

How did you finance this deal?

commercial loan

I appreciate everyones insight. I am primarily focused on inner harbor, fed hill, and within a ~2 block radius of the University of MD medical campus. If I come across a particularly interesting listing, I'll post it here to get more specific insight. I am running out of inventory in my main market which is why I am venturing into other cities. 

and to be clear - I am well aware of the risks associated with the market. I am mostly looking for any insight or optimism for the city's future that I haven't yet learned... or any bad news for the city's future that I don't know about. We can analyze a deal all day long, but I always find that local insight is extremely valuable. 

If anyone has any other MD markets that they like, id love to hear about that also.

I would like to hear what everyone is thinking about Baltimore Maryland. I have been watching this market for a few years and I’ve gone back and forth with how I feel about investing there. I primarily look at 8-20 unit buildings in the downtown area. I can handle the building analysis, I’m more interested in what the locaL rules are, tenants, and predictions for the city’s culture and overall vibe are over the next few years. 

Thanks for organizing this! I have a prior engagement this evening but would really love to attend the next get together.

I hope the event goes well! 

I agree with the posts above. I think it's important to follow the golden rule of 'don't be a jerk' in these scenarios. A home is going to see wear and tear. As long as the property has been reasonably cleaned and there is no damage beyond typical wear and tear, I generally return the deposit. In a situation where they left garbage behind or clearly didn't make any cleaning attempt, I apply a cleaning fee and deduct it from their deposit.

Welcome, Nicholas! BiggerPockets is definitely the place to be to absorb information so you can make a smart investment. Wishing you the best of luck! Please reach out if I can be of any assistance.

Growing in this inflated market has been tough. Great deals are hard to find and the ROI has been shrinking as prices rise. Although it took 5 months, I am proud to have negotiated a solid deal that provides a great return and meets the ever dissipating 1% rule!

Hi @Brandon Allenczy, thanks for the reminder, but how to get informed about this sooner than a 24 hour notice? 

First of all - congrats on having your primary residence paid off. Thats a great accomplishment!

I happen to agree with @Joe Villeneuve. Waiting to save for the 20% down (depending on your income/RE market) can seriously delay your growth. With that said, it really boils down to your own goals. Are you looking to seriously scale your portfolio? or are you happy with a few rentals for supplemental income? 

Taking inventory of your goals and pairing that with your risk tolerance should help you make the right decision. 

Good Luck to you!