All Forum Posts by: Bill Kenny

talk to Tom, Drew, and Rhiannon at East Coast Property Management, I refer them to my investor buyer clients. 

Hey Ryan, There is a massive shortage of housing for buyers and renters in our market. Rent are up and vacancy is low. We handle our own property management and are able to work with our tenants when there are bumps in the road. All units are occupied! That being said, prices are at an all time high so finding deals is very difficult. They don't exist on the MLS. Times will change and when they do we want to seize the opportunity to buy more..

We are having success in Hagerstown and Martinsburg. We live in the area and self manage. If you want to reach out you can contact myself or Mike Webb and we can talk about the market. Inventory is thin and prices are still rising but it cash flows if you do it right. The key is proper tenant selection and knowing where and what to buy. 

@Clayton Sinclair this is a good place to start. I've meet a ton a great people from BP conversations. Even Met my current business partner @Mike Webb many years ago. Still waiting for the podcast invite! 

Seriously, the lessons I'ved learned from the BP podcasts are enough value in itself. Any topic you need help with has all ready been discussed. As far as meeting like minded local people, We have a Meetup network group that meets once a month in Martinsburg WV. Send me a PM if you want more details. In person Meetup groups are the best way to met like minded people. Remember you Net Worth = your Network

Bill

I-81 Real Estate Investors Meet Up

This Month's Talk... Presents "How Real Estate Investors Can Identify and Deal with Mold, Asbestos, and Fire Damage" Live with Paul Davis Restoration! pauldavis.com Join us on 07/23/20 at 6:30 PM in person at the Holiday Inn on 301 Foxcroft Ave., Martinsburg, WV 25401 or online on The I-81 Real Estate Investors Page listed below. https://www.facebook.com/groups/672806156484519/ Due to current restrictions, we can only have 20 people at the meet up. Please email us to reserve your spot at [email protected] Invite your friends, family, coworkers, and anyone that you think would benefit from our FREE monthly meet-up!

I would say if you can get a deal anywhere in Wash Co or Frederick Co Maryland. DO IT!!

@Alicia Dodson Welcome! We have a large portfolio of rents in Washington County and Berkeley County WV. @Mike Webb and I host a monthly real estate investor meetup that is free if you are looking to network locally. Feel free to reach out if you need some answers. 

Hi Julius, I wouldn't starting getting a team involved without having financing connections or private money / hard Money lenders. Its hard to know what direction to look when you don't know your current limitations .. Why look at 250,000 buildings if you can only purchase a 125,000 buildings. Find out how much money you have access to and then start the search. Your team will respect you for not wasting their time on projects you have no business getting them involved in. Your team should include money partners. It doesn't hurt for you to run the #'s on all types of deals in the meantime! 

Hi Amy, My business partner and I have multiple rental properties in Hagerstown and Martinsburg. We also host a local investor meetup that may be of value to you. Feel free to reach out when you're ready to start learning about this area. Bill

Hi @Jeff Alwine Good luck getting started in your investing career. I have a large personal and joint portfolio in Martinsburg WV and Hagestown MD. Those are a mix of self managed and internally managed with an in house PM. To your question, My first property that I purchased was in Frostburg MD. I recently sold one and still have one there and that is over an hour away. I still self manage it and go there from time to time to check on it and get it re-rented. The #1 thing is getting the best tenant for you properties that are further away. The #2 thing is to have a property that has been rehabbed or has been very well maintained. These are basic fundamentals to real estate investing but so much more important when you are further away from the property. Poor tenants and getting nickeled and dimed by maintenance issues will drive you mad! I take extra special care when selecting tenants for these rentals. I have a very solid process for selecting tenants. When I purchased these properties I did all the work needed to make it tenant proof. You should not leave any deferred maintenance that will cause you and your tenant problems. 

These are sexy answers but even with property management this will make your life easy. The #3 thing would be find the best PM you can find if you go that route (talk to all of them and get referrals) before you decide. I have decided to self manage for the last 10 years and I'm happy with that decision.