Investor · McLean, VA · Member since 2013 · 53 posts · 18 votes
I'm beginning the process of evaluating different locations to start my portfolio in Northern Virginia, so I thought it would be a good idea to defer to the knowledge of the BP members who invest in this area.
I'm currently interested in both multi-family (1-4 units) and single-family buy and hold investments in the Northern Virginia area.
My questions for the VA investors on this site are:
1. What are the best areas for multi-family investments? (For each cash flow and appreciation)
2. What are the best areas for single-family investments?
3. What area are you currently focusing on and why are you interested in that area?
I look forward to learning from your expertise!
Investor · Hampton, VA · Member since 2014 · 38 posts · 18 votes
11y
Investor from Woodbridge VA. NOVA is tough unless you have alot of cash. Its definitely an appreciation play. I have looked at Quantico, Stafford and Fredericksburg, Culpeper and Warrenton and just havent found DEAL deals. I have lived in Woodbridge for 17 years and my new construction built back in 1997 has tripled in value. I made a move to invest in the Hampton Roads area last year -- primarily buy and holds but I am in the middle of my first flip now. Recommend real estate arbitrage -- make your money in NOVA and invest it elsewhere! Much success...
@Nick Ye, @Joel Huff, I live and invest in F-burg. You can DM me to discuss deals that come your way, or just to chat... Actively looking for A/B properties only at this time, mid-range price point. 2/1, 3/1, and 3/2's.
Investor · Stafford, VA · Member since 2014 · 246 posts · 83 votes
10y
@Donald Capwell absolutely. I've been so slammed with trying to get two houses ready for the rental market and still working my full time job also that I haven't had a minute to spare.
Maybe we should get some lunch and I'll give you a tour of my Mayfield house.
Washington, DC · Member since 2016 · 5 posts · 3 votes
10y
I am a Wholesaler operating out of NOVA and lately Manassas. My marketing campaign is working and the phone is ringing I just need a reliable buyer. I am looking to expand my buyers list especially in the Manassas area. I focus on SFR and I will my buyers deals at 60-65% ARV - repair cost estimate + my assignment fee. Please reach out if this sounds interesting. Thanks.
Investor · McLean, VA · Member since 2013 · 53 posts · 18 votes
10y
Sorry about the late response, I haven't been on BP in a while!
@Jessica Swingle Thanks for all the info, it's appreciated! When I get back in the area, I'll e-mail you about your list of meetup groups.
@Donald Capwell I'm about an hour and a half north of Fredericksburg. I have all the information I need at the moment but thanks for taking the time to respond. I'm sure I'll have more questions about the area in the future.
Investor · McLean, VA · Member since 2013 · 53 posts · 18 votes
10y
@Moe Rehman Hey Ali, it seems that most of the Northern VA markets aren't great cash flow markets. I haven't been very active in searching the past couple of months mostly due to a busy schedule.
Rental Property Investor · Tucson AZ / Nice FR / Washington DC · Member since 2016 · 1k+ posts · 1k+ votes
10y
Don't know how I missed this thread. You can find deals, you just have to go off market, and work for it.
Seen a off market deal roll by for 300k on a house in Alexandria a few weeks back, it went quick. ARV was like 600k if I remember right.
Talked to a guy a few weeks ago in Fredicksburg that was selling a portfolio of SFH, 800-1,000sqf each, for 150k each. Rents where in the $900-$1,200 mark. not that great of a deal, but a few jumped on it.
I wrapped up a string of townhouses this Friday for 60k each, rents are $950.
Working on a deal out pass Charlottesville for 1.2m 24 unit, as well as a 9 unit apartment, and some townhouses for 80k each, locally.
Investor · Milwaukee, WI · Member since 2015 · 7 posts · 1 vote
10y
Hi Jessica my husband and i are relocating to the Fredericksburg area in the fall. We would love the contact info for your realtor / investor. We would like to purchase something that needs rehabbing in the area for some sweat equity.
Residential Real Estate Broker · Washington, DC · Member since 2016 · 8 posts · 2 votes
10y
Hey guys I'm new to BP but have been in Real Estate for almost 15 years. There are properties that have cashflow in NOVA much closer to DC than Strasburg as long as you care putting 20% down. There is always a trade off of cashflow vs. liquidity and most properties in NOVA can be sold in a few weeks.
DC/Nova is not an entry level market and you have to be VERY creative if you are working with limited cashflow. Multi-Family here is not something you are going to get into with 50k. There are opportunities for Multi-Family in Alexandria but you need to be in the market for 12-15 Units.
Lender · Alexandria, VA · Member since 2016 · 13 posts · 2 votes
10y
Jessica - I would be interested in a list of meet-up groups and their contact information for the NOVA area. I do not do Facebook, so please do not send me there. I'm in Alexandria and interested in becoming a private money lender.
Investor · Manassas, VA · Member since 2015 · 13 posts · 2 votes
9y
@Ben McMahon, I'd love to buy you a coffee here soon and discuss Winchester and Front Royal markets. I just moved to Prince William County last year from Hampton Roads, and needless to say, the market is very different. My GC and I are looking to expand out west into your market areas, and would love to meet up with you for a bit! Let me know brother.
Real Estate Agent · Sterling, VA · Member since 2011 · 6 posts · 3 votes
9y
Hi, Ryan. By any chance, did you ever get to do that coffee meeting with Ben McMahon? If not, I would love to join you both! I am a real estate agent/investor in NOVA and am looking to meet up with people investing in Northern Virginia. I really would like to find out the strategies investors are using here. Hope you all reply.
Arlington, VA · Member since 2017 · 4 posts · 0 votes
5y
@Hunter L. just bringing this back up - what area did you decide to invest in?
Thanks to everyone who contributed to this post, found some great information on the NOVA market. While I am late to the game, I am looking to invest in my first buy and hold property. I have a VA loan and plan to do a house hack. From responses on this thread, it seems Fredericksburg is a big contender for Cash Flow and Appreciation.
Are there any other areas others would recommend looking into (in today's market)?