All Forum Posts by: Cristhian Huamani

@Franco Battaglia I have multiple rentals throughout Hagerstown. In my opinion, Hagerstown is one of the best places to invest in Maryland for Cashflow due to the price per unit and demand for rentals. Feel free to contact me with any specific questions.

That's a big house! I am sure there will be tons of equity after repaired. 

The average price for a duplex in downtown Hagerstown is between $95,000 and $145,000 depending on location, composition, and condition. 

The numbers to house hack with a duplex are great. Particularly if they are separately metered. Make sure you do your due diligence prior to settlement. Review leases, lead certificates, request profit, & loss or schedule E, ask if the tenants are currently behind and call the city to make sure there are no outstanding rental inspection requirements.

I am a real estate agent and investor in Hagerstown. I own a few properties throughout town.
If you have any particular questions, feel free to reach out.

@LaRuan A. As a real estate agent and investor in Hagerstown. I have learned that property management is a tough business. Particularly in markets like Hagerstown. Cashflow is great but it comes with high management & above average turnover.  I self manage all my properties in Hagerstown. However, in my personal opinion, If I were delegating management of my units. I would use synergy, simply because they manage a large number of units, extensive experience and they have the least complains compared to 80% of the other Property management companies.

If you have any particular questions, feel free to reach out.

Jeremy,

I work with a lot of investors in Hagerstown. Feel free to ask any particular questions about the market.

Hagerstown is a great place to Buy 
if your capital is limited. The ideal flip is one where the acquisition and repairs are under $110,000 and ARV of $165,000. Hagerstown is a great place to start your journey. If you are interested in learning which areas are best to flip, feel free to reach out.

Hi @Justin McGonigal. I own a few units in hagerstown. I also work with a lot of successful buy and hold investors as well. Yes, lead inspections need to be done at every turnover. There are a lot of tips I can give you but the most important is to negotiate accordingly if you are buying a property with original windows. They can be a pain. A property with replacement windows is always a plus. It’s easier on your holding cost and reduces future headaches with lead inspections. I can also recommend an excellent lead inspector in town.

Feel free to reach out.

@Mark Cruse Short answer is yes. Long answer is it all depends on the location, condition, composition and Cap rate. However one variable that have caused the increased price per unit compared to 3 years ago is the growth of out of town buyers, from Montgomery county, Nova, NY and DC investors. Some of them pay more than what local investors would pay for turnkey investments. There are still tons of opportunities for value add. I personally have a 47 and 5 unit portfolio that I will be listing shortly, They both are value add deals.

Feel free to reach out with any particular questions.

@Kazi Islam, I do not know much about baltimore to discuss. When you talk Hagerstown though, I understand and know the area very well. I own a few rentals in downtown. Feel free to reach out with any particular questions you have.

I own a couple of properties in Hagerstown. In my opinion, Here are the pros and cons when buying and holding in Hagerstown.

PROS:

1. Demand for rentals: Quick fact, more than 50% of household units in Hagerstown are rental units! This means that if you have a rental and advertise it, you will be getting a lot of multiple calls which increase your ability to find the ideal tenant that will provide you with consistency of income and make your real estate investing extremely passive!

2. Low initial Investment capital: There is no other market in Maryland that offers investors the ability to start buying and holding under $40,000 with a predictable level of risk. When investing in Hagerstown, you will find multiple multi-family apartment buildings that range anywhere from $30,000 to $55,000 per unit! Hagerstown is a phenomenal market for investors in the areas of Baltimore, Frederick, DC, Northern VA and more!

3. Location: Hagerstown is called the hub city because of the connectivity and ability to travel within 1-hour range to multiple states and districts such as West Virginia, Pennsylvania, Washington DC, and Virginia. The fact that Hagerstown is 30 minutes from Frederick. As Frederick grows, the price of real estate in Frederick rises and the more people start moving to Hagerstown, real estate prices are close to half as affordable as Frederick.

CONS:

1. City taxes: When you buy and hold an investment property you are paying county and city taxes which can reduce your cash flow, make sure you analyze your holding cost carefully.

2. City rental inspections: You have to do a city inspection every 4 years. This can be pricey particularly when having a turnover with a long term tenant. Make sure you have cash reserves for future turn over expenses.

3. Low household income: There are a lot of people in Hagerstown that have been renting for many years, Their income is limited. Some are great tenants and some are not. Just like any other market place, your ability to screen tenants are EXTREMELY important. Particularly in Hagerstown. If you have 0 experience and wish not to bother learning how to manage a property correctly. It is VERY important to hire a competent property management company.

In summary, If your focus is to buy and hold for cash flow. Hagerstown is the best market to explore. Keep in mind that there are multiple successful real estate investors in Hagerstown. There are also investors that absolutely hate the thought of investing in Hagerstown. In my opinion, if you do your due diligence when selecting a tenant, you will be successful.

If you have any other questions about investing in Hagerstown, feel free to reach out.