Fix and Flips in Prince Georges County Md. / Wash. DC ?

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Fix and Flips in Prince Georges County Md. / Wash. DC ?

Tracy DeVore
Flipper/Rehabber · Annapolis, MD · Member since 2019 · 7 posts · 1 vote

Hey there Maryland/DC investors.  I am looking for your advice on what cities in PG county are good areas to buy fix and flips and what neighborhoods in DC are good for the same?  

Thank you in advance for your help

Tracy

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Tracy DeVore:

    Hey there Maryland/DC investors.  I am looking for your advice on what cities in PG county are good areas to buy fix and flips and what neighborhoods in DC are good for the same?  

    Thank you in advance for your help

    Tracy

     Hyattsville, Riverdale, Mt Ranier, Suitland, Ft Washington.

    Brightwood, Petworth, Trinidad, Deanwood, Anacostia, Riggs Park, Eckington, Bloomingdale, 16th St Heights, Columbia Heights.

    You will need a gross margin, difference between acquisition price and ARV, of about $250k in DC, and $225k in PG county assuming a light to moderate rehab. Heavier rehabs will need a larger gross margin.

    Most people currently are needing to use an ARV that is projected for when rehab is complete. Using an ARV based on already closed comps wont really work in this market since everyone is using a projection and paying acquisition prices based on projected ARV.

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  • Tracy DeVore
    OP
    Flipper/Rehabber · Annapolis, MD · Member since 2019 · 7 posts · 1 vote
    5y

    @Russell Brazil. Thank you for the input.

    What areas do you think are strong for a buy and hold ?

    Tracy

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Tracy DeVore:

    @Russell Brazil. Thank you for the input.

    What areas do you think are strong for a buy and hold ?

    Tracy

     Most of the metro area is pretty good.  Most of my rentals are in the Georgia Ave Corridor in DC and Silver Spring which I like quite a bit, easy rentalbility.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    0Reply
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