Investor · Herndon, VA · Member since 2015 · 185 posts · 74 votes
Where are NOVA (Northern Virginia) investors investing? I am a beginner in REI and prices around this area is a big roadblock for someone to start. It needs good amount of money to start in buy and hold strategy. Any NOVItes investors who have invested elsewhere 1-2 hours away or out of state in cash flow properties? I am seriously considering something out of area/state if numbers look promising...
Where are NOVA (Northern Virginia) investors investing? I am a beginner in REI and prices around this area is a big roadblock for someone to start. It needs good amount of money to start in buy and hold strategy. Any NOVItes investors who have invested elsewhere 1-2 hours away or out of state in cash flow properties? I am seriously considering something out of area/state if numbers look promising...
You are roughly equidistant from Baltimore and Richmond, I think. I invest in Baltimore, having grown up there and feeling comfortable in the neighborhoods. In your place I might look to Richmond, though, which is reported to have one of the best returns on investment on rentals in the country. It may be easier for you to stay in ur own state.
There is a very cool new REI group that started last year called Capitol Investors Meetup that meets in Falls Church. Actually they are meeting this Wednesday, I think. Look them up online. Very education oriented and meetings are free. I'm planning to go.
I am wondering how do you normally manage/supervise fixes on foreclosed/fixer upper properties with contractors if not local to that area. I am assuming you are doing full time. If not, do you normally give contract to some GC company to work on the fixes and you visit once work is completed. I would like to pick your brain to get some success on my first deal.
RELATIONSHIPS!!! Find a good RE agent and then ask for their #1 CTR recommendation. Good people know good people and their reputations matter. Also you can also find a PM that will be in charge of the repairs if they will do the PM after the fact. You will likely pay more for this setup rather than for some contractor you can go check up on daily. But if you cant check on them daily --- you pay for the oversight by others. Money makes the world go 'round!
Arlington, VA · Member since 2017 · 4 posts · 0 votes
5y
@Mayank S. just wanted to bring this back up and see how your first investment went? I am currently in the NOVA market looking to invest and this forum contained a lot valuable information.
@Mayank S. just wanted to bring this back up and see how your first investment went? I am currently in the NOVA market looking to invest and this forum contained a lot valuable information.
Hi there, we have a small meet up that started around three months ago where different investors in the area meet up to exchange strategies and see what each of us is doing. Next one is next week if any of you guys want to join, let me know. No selling no product pitching involved.