Investment Advice for Northern VA or DC

[Prashamsa Neupane]

Hi All, I moved to Fairfax VA just six months ago. Me and my husband had always been interested in real investment for quite some time and now living in such a vibrant area, we thought this place has such a great investment return potential and also with some cash on hand we had from selling our house in Oklahoma we really wanted to put that cash to work. However, we have been really struggling to find properties that makes economic sense in the Northern Virginia area ( looking in Woodbridge and Manassas area assuming they have some good potential but any property that looks to make decent economic sense will have multiple offers shooting the price way over the asking price). We are even open to flipping or any other method that provides attractive return.
Reaching out to this community seeking advise to see if we are targeting wrong area or are there different areas ( personally I love DC but is super expensive) we should target or a different real estate investment strategy we should consider that works better for this region? 

[Joaquin Camarasa]

Hi Prashamsa, 

Like everyone said, It is a tough market with a super low inventory. 

However, it is worth noting that Sterling could be a potential given your price range. Alternatively, you could consider purchasing a condo at a lower price point in a better location (e.g., Arlington, Falls Church, Alexandria), live for a few years, keep it as a rental and purchase another property at a higher price value in the future when rates are lower. 

I hope it helps,

Joaquin