All Forum Posts by: Matt Vaughn

When you run your numbers, make sure to factor broken windshields on your ball collection tractors. I know that always where I aim!

Justin Lenk , what became of this potential deal. It would be interesting to hear what you decided to do.

Professionally, I'm a project manager for a commercial construction management firm. I've managed the design and construction of commercial projects ranging from $40-750M. I have started tinkering with residential real estate on the side but would be interested in your opinions if there are other starting points in real estate where I'd add more value than just buying individual SFH's as I'm doing now. I live in the Washington DC market (live in Maryland and work in Northern Virginia ). Thanks for your thoughts.

Guys, I'm looking for a recommended window contractor in the Laurel, MD area (either Howard or Prince George's County).  I had a budget GC tell me that my 48x48 windows are slightly off of the typical dimensions and will require a custom sized window to replace them.  I find this odd, since I don't know who would build a 3/2 house full of custom sized windows - this is a builder grade home.  

So first, can you throw me a name of anyone reasonable you've worked with?  

and also, does anyone have experience with replacing windows and whether or not that often involves custom sizes or if typical Home Depot style windows work.  

Hey, I'm on the hunt for a mold remediation contractor that works in Howard County, Maryland.  Any recommendations?

Originally posted by @James Rey:

  Due to the higher than usual vacancy rate in Cumberland (at least for these properties) and the negative population growth, we are moving on to other markets.  Does not mean you have a bad deal, just something to be aware of.

James, what vacancy rates were you seeing in comparison to Hagerstown?   

Originally posted by @Andrew Kwiatkowski:

Hello. When you say it's an "old building" -- how old are we talking?

I don't have experience in Cumberland, but the population growth would concern me.

What's the competition in your immediate area, and what do they charge for rent?

 It's 100 years old.  Supposedly the critical systems have all been updated, but I haven't verified that with my own eyes.  

I'm analyzing a deal in Western MD, specifically Cumberland.  I haven't visited the building yet, but I have basic info for initial analysis: 

- (8) 2 bd rm units
- Purchase Price - $115,000
- Potential Gross Rent - $4000 (Units renting at $500)
- Old building, but supposedly new elec, plumbing, and windows
- I built out a Pro Forma for the property, which brought me to 60% expenses and a Cap Rate of 11.8%

A couple questions:

1. Does anybody have experience with Cumberland (an hour West of Hagerstown)? If so, I'd love to pick your brain.  I grew up 30 minutes from there so I have familiarity, but I currently live in the D.C. Metro area.  Cumberland is a town of about 40,000 population with a -3% growth since 2000.  It's a town in a rural area.  Any feedback or insights about rental properties in a town like this would be appreciated

2. I'm working on a live-in flip right now, but otherwise, this would be my first deal.  I would be located 2 hours from the property.  My numbers account for property management if needed.  Does anybody think this is a bad idea solely based upon distance and my experience?

3. Do these numbers look strong or do they scare anybody?  I can provide more info if needed.

Thanks in advance for your help, everyone.

Thanks all for everyone's suggestions.  I appreciate your help.

Oops, didn't notice everybody else's responses.  Thanks, @Paul Ortiz and @Brent Cullipher.  I think I'll just replace the other walls to keep it clean.