Hey all! I'm looking to purchase my first rental property this year and was wondering has or does anyone currently have properties or know someone in the Cumberland, MD area? There are a few properties available but I'm struggling with determining whether the deals are good or not as I'm not sure about my numbers or the area/vacancy, etc.
That is a pretty out of the way place, but if you share some of the numbers I'm sure investors would be willing to look that over and help you determine if you're on the right track
@Melanie Hartmann - Cumberland would not be my recommendation as a first investment. There is no appreciation and while numbers may look great for cash flow there are typically a lot of issues with tenants and expenses.
@Melanie Hartmann Take a ride up there this weekend . See it for yourself .
One of the poorest locations in the statex with a shrinking population, and very old housing stock.
The shrinking population, among other things, has been my hesitation as well. There are/have been plans to revitalize Cumberland and the surrounding areas. So I was wondering if those plans might help to stabilize Cumberland and make it an "ok" place to invest in. I've made some offers but all have come back with more than I would like to pay. I am worried mostly about the length of potential vacancies and costs of potential evictions/non-paying tenants. I don't have a lot of capital and thus have yet to find a deal that I'm really comfortable with yet.