Real Estate Investing Northern Virginia

Real Estate Investing Northern Virginia

Damascus, MD · Member since 2016 · 74 posts · 7 votes

Hi Everyone,

I live in Montogomery County Maryland therefore I know this area best and would like to invest in this area. I mostly would like to fix and flip then get into buy and holds in the future. However, I'm am finding out that deals are pretty hard to come by in this area. Therefore I wanted to widen my search for houses in other counties in Maryland and even into Northern Virginia because I fairly familiar with that area as well.

My first question is how is the real estate investing in the Northern Virgina area. I haven't done much research in that area mostly because I haven't been looking in that area. Being that that the drive isn't that far I would really like to touch in that area.

My second question is my realtor is only familiar with Montgomery and Frederick Counties therefor he did not want to expand my search because could not give me advice in areas like Baltimore and PG county and it was not worth it to him to travel that far. But I wanted to keep him because he has helped me out a lot so I just wanted a different realtor to help me in those areas but when I approached a realtor to help he said that I could not be represented two different people. Also I found a house I wanted comps on in Northern Virgina and sent them to my realtor and he said that he did not have access to the MLS in Virgina. So I don't really know what to do about this situation.

My final question is if I have an LLC in Maryland can I use it in Virgina or will I have to get an LLC in Virgina for my flips?

Thanks for the help everyone 

-AJ

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  • Richmond, VA · Member since 2013 · 293 posts · 96 votes
    10y

    @Aj Bowman

    I can't speak to the Maryland market much but as far as your LLC question goes, that is more of a way to structure your business than it is where the business' assets are located. There's a ton of info on BP regarding the pros & cons of holding inside an LLC or flipping with an LLC. The short answer is you shouldn't need a Virginia LLC to operate in Virginia. A better question would be whether you need an LLC at all. For that it will depend on your current financials and goals so I would dig in on the forums here for multiple opinions on LLC formation first.

    Best of luck!

  • Investor · Fairfax, VA · Member since 2015 · 45 posts · 12 votes
    10y

    An LLC can typically operate anywhere, just like a corporation. Be sure to read through your LLC Articles of Organization to make sure you didn't somehow limit yourself when creating it.

    Also, if you want properties in Montgomery County (as well as elsewhere in MD and VA), drop me a line. I'm a wholeseller in those areas.

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