I have put a small four plex under contract and will soon be needing a PM company.
What companies are great to work with and which ones should be avoided?
@Andrew Michael may have an idea. I know he owns a property in Hagerstown.
@Ray Arends , send me a PM. There are a few that are good and a few that I would be very cautious with.
If you don't mind, where is your four plex?
@Ray Arends We were seriously considering offering property mangement services in Hagerstown because the service quality is so universally bad. The problem is the amount of work you have to put into those lower rents isn't covered by the management fees. The lack of capital backing the properties rent rolls is directly reflected in the amount of work you have to do out there.
I'm heavily invested in Hagerstown and based in Frederick - so if you're ever going to or from let's get together and have lunch. If you don't have any good landlord stories you won't have to wait long for them in Hagerstown.
@Jr T. Im actually currently about to move into the frederick area. I recently opened another business in Taneytown, which isnt far from there, and Id love to get into RE in Frederick.
When can we sit and chat?
@Logan Hicks sending you a private message with my contact details.
I am picking up q duplex in Hagerstown and am interested in knowing how this turns out and who you used. The duplex has one unit that is section 8 so folks who are keenly familiar with the requirements are who in looking for.
I manage my own properties, but I heard that Ridgecrest is good. My real estate agent uses them.
Looks like quite a few investors in Hagerstown. Is this still an active market for buyers and hold for those of you operating there? I'm in northern VA and am looking at places like Hagerstown and Frederick that are priced much lower. Feel free to shoot me a PM too.
I am also looking at some potential investment properties in Hagerstown. We live in MA but will be in MD this weekend to visit properties, a local bank, etc.
We were planning to use a PM company at least until we move down to MD next year. @Ray Arends did you end up finding a company to work with on your fourplex and do you still recommend investing in Hagerstown?
@Sabrina Savinski we are picking up a 3 unit to wholesale today in Hagerstown. Not sure what your buying criteria is but would be interested in chatting. @Bill Kenny might be someone to network with, too. He is a local investor friendly agent. I just picked up a 6 unit and am transitioning to a local property manager. Will keep you and @Ray Arends posted on how it goes.
@Sabrina Savinski , yes and yes. Synergy management has exceeded my expectations and I would suggest you talk to Sheryl Bowers there. I still like Hagerstown and continue to invest there. My current deal has been a roller coaster ride as far as financing goes but it looks like we will close mid August. @Mike Webb , please keep me updated about your latest acquisition! I really need to meet you over coffee at some point. I have not forgotten property management advice and interested in hearing about your business.
I sent you a PM
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