Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago on . Most recent reply

User Stats

609
Posts
341
Votes
JR T.
  • Financial services executive
  • Frederick, MD
341
Votes |
609
Posts

Another Reason To Avoid Hagerstown Maryland

JR T.
  • Financial services executive
  • Frederick, MD
Posted

Already the second highest tax jurisdiction in the state they now want to double up taxes on RE investors.

All in the investing community should be aware of this corrupt city government

Story below

https://www.heraldmailmedia.com/news/local/hagerstown-considers-a-two-tiered-tax-rate-structure/article_01b25d30-d159-11e7-a62f-c76756fefc56.html?utm_medium=social&utm_source=email&utm_campaign=user-share

Most Popular Reply

User Stats

171
Posts
93
Votes
Bill Kenny
  • Lender
  • Martinsburg, WV
93
Votes |
171
Posts
Bill Kenny
  • Lender
  • Martinsburg, WV
Replied

There is a larger area of Hagerstown that is not within the City and as with anything the prices tend to move in relationship to the many factors. When a property is double taxed (both city and county) it would tend to be related in the sales price. Most of the multi family is concentrated in the city or closer to downtown.  The more highly regarded properties are not in the city tax district and are on the outskirts in different school districts. People need affordable housing and the further you go East the less affordable housing becomes.. As you come West Hagerstown meets that sweet spot where prices makes sense in relationship to rents. The cheaper the property the more management it will take.. the more expensive the property your looking at negative cash flows. Hagerstown City can be a pain in the *** and its well documented BUT I bet Baltimore is very similar, I don't know, but I'm guessing..  Higher Taxes is bad business.. its been proven that it doesn't work in the long run.. 

As for Frederick vs Washington County.. Frederick County is 2x more expensive and not sure how you cash flow in a market like that.. Unless you are finding off market deal in Frederick County which are few and far between it doesn't make sense to purchase in that area. 

In Washington county you need to purchase in the right spots and manage the hell out of it.. 

As with anything.. If it were easy everyone would be doing it.

Loading replies...