All Forum Posts by: Eva Jensen

Gross rent potential is 2400 per month.  

We are not opposed to tackling a fixer upper (we're currently building our own house, my husband and I) BUT we are nervous about the costs associated with it.

https://www.zillow.com/homedetails/410-410-412-E-Baltimore-412-St-Taneytown-MD-21787/2083419432_zpid/

Would anyone be willing to give us counsel on this property? We have put a cash offer on it and they've knocked off 25k of the purchase price, but are selling strictly AS IS, no further reductions from what the inspection has found.

Look at the photos of the basement; it's got major water issues.  There are no serious foundation cracks, but the land around the house is graded towards the house, gutter spouts are too short, and there's no drain in the exterior stairwell leading into the basement.  Also, the washing machines down there drain their water directly onto the floor in a low corner, where there's outputs...still, water spreads a bit on the floor and touches the walls.

There is mould on the floor joists, some floor sagging, and old termite damage.  

Are we making a bad deal here?  It would be our very first investment property. Thank you all for your time!

We are in a similar boat. The duplex we are currently making an offer on is in fantastic condition--except for the basement.  It's a concrete slab wall basement with low ceilings, uneven 1920's slab floors, silt deposits, eroded/cracking concrete...the house is on the low side of the road and the gutters don't carry water far enough away from the house.  The sellers want 200k for it.  Are we crazy to even consider it? 

What is the investment property climate in Westminster, MD?  Any investors there in this group?  We live in Westminster and might try to obtain our first property (duplex or single family) here before making the leap to Hagerstown.

Thank you all so much for your feedback!! I'm still a bit nervous about investing in Hagerstown, having gone there a few times this week to look at properties and being reminded of the rougher parts of Baltimore (Where I used to live), but no place is perfect.

What would the best area of the city for a first time investor be?  The north end of town?  

@Omer Ashkenazi

That makes sense.  Would you have any tips on how to be successful in that city? Especially if anything is different in Hagerstown in a bad way.

@Bill Kenny

Tenant screening is priority then, and perhaps looking for properties just outside of city limits? Thank you for that!  My husband and I are going to be first time landlords and need all the advice we can get. 

If anyone has a BETTER city that we should be focusing on instead, please let me know!

Two years ago, there was a thread here called "Another reason not to invest in Hagerstown, MD".  I stumbled across it right when we were about to put an offer on a duplex in that city, as first-time investors, for cash flow purposes. 

My question is:  Is is STILL a bad idea to invest in Hagerstown??? Has the government lifted any of those difficult loopholes, like the dual-tiered taxes and the strict crime policies, that were being complained about in that old thread?  Should we look elsewhere (and where?)

I know markets change, but I don't know how to find out if they have for the better.  Any input would be immensely helpful, as we literally were about to make a purchase--when I found that thread and stopped in my tracks.

Thank you!!!

_eva

New to investing; should we consider Chambersburg, PA or Hanover, PA for buy&hold rental properties? The goal is to have steady passive income. We want to stay close to the hospital to hopefully house nurses, techs, etc.  We'd be self-managing and using some leverage with a big down payment. The properties we're looking at are mostly duplexes (both units) under 150k.

Thank you !!!

Interested in a similar thing: Investing in Hanover, PA.  Does anyone here think that Hanover is a good place to invest in blue collar communities surrounding the manufacturing plants, etc?  (Most of this thread is focusing on York) Thank you !

Thank you, Jim! That helps clear the water.