If you are or thinking about becoming a real estate investor-you need to look at the opportunities in Cumberland Maryland 21502.
Whether you want to be the" buy & hold" long term investor or the quick buck "flipper" Cumberland offers a variety of great opportunities. I believe that this growth is just beginning as more people discover the beauty and ease of life surrounding Cumberland.
According to the USA Today article on May 16 "Home Prices fell in first quarter" but "The strongest gain was in the Cumberland area of Maryland" with the median home price jumping 17%.
WHY? Many are finding that they want to get further from the daily grind of the major cities and are willing to commute-Cumberland is just 2 hrs from Washington DC, Pittsburgh PA, or Baltimore. Plus with the growth of tele-commuters, many are not tied to an office-so they can realistically work from anywhere they choose.
Here are just a couple of the opportunities that I have come across for some of the investors that I work with:
Buy & Hold-Just last week we settled on a 6 bedroom 3 ½ bath duplex fully rented that is generating about $350 per month cash-flow. Price $115,000! Using current market trends and holding this property for 3 years-Cash flow income would be $12,600 for period and selling price would be around $184,000. Not a guarantee of course, but I truly believe that this potential is there!
Flipping-I found a four unit with much potential. Each unit is 3 bedroom, 1 bath, living room, kitchen, dining room and laundry room-listed price $135,000. Rehab had been started but needs completed-estimated cost of completion about $100,000. This includes all new appliances and upgrades in each unit. Completed sale price between $300K and $320K-or how about setting it up as condos and selling each condo for $100K-total $400,000. (You could do a buy & hold and cash flow over $1000 per month!)
In the Cumberland area, there are currently 38 multi-unit properties listed starting at only $25,500 and 27 single family homes listed for less than $50,000.
If you are new to investing or a seasoned investor-take a few moments to contact me and discuss your needs and goals, I have been a Real Estate Investor since 1988. Now, as a Real Estate Agent, I enjoy helping others who have a sincere desire to achieve financial success through Real Estate Investing!
Stephen Luckett
Helping you succeed is what I do!
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