New Investor in Northern Virgina willing to go out of state

10 Replies

Hi

I have a townhome in Northern VA which is rented but as everyone says this area is not good for cash flow. I think I either need to start flipping houses or go out of state and invest in turn key properties. I am not sure how to find trust worthy turn key property managers who can really deliver the results.

Any help is highly appreciated. My situation is almost like the person from MA in the other thread "Newbie Looking to Invest Out Of State" but did not want to hijack her thread.

Thanks

Hi Ron,

It really depends on your investment goals and how much time/money you have on hand. Could you elaborate on those things so we could give you some granular recommendations?

@John M

I have two town homes currently. One is my primary residence and the other is a rental property. I just barely break even and probably make about $50 a month or so on this rental but it is not a negative cash flow property. I have about 60k that I want to use to acquire another rental but not sure if N.VA is the place to do it as I don't think I can find any decent townhome for $240k which generates cash flow.

My idea is to keep acquiring a few properties  in the next few years which can generate passive income flow.  I am 39 yrs old now if it matters:-)

I have two very young kids and I am not a DIY handyman. I try to work with a handyman every time there is an issue on my rental but thankfully, there are no big issues with it so far...

I also have plans of buying a SFH in this area and making my current town home a rental in a couple of years.

Sounds like me.  I'm in MoCo.  Have a townhouse in Arlington.  Taking a call today with a reputable turnkey provider to explore options investing out of state.  May hold off though seems like we are at the top of a cycle.

What are you looking for?  There are a lot of ways to do this...and a lot of those ways can, and have, ended up in peril.  Partnering with an out of state investor is one way of controlling the risk, which is why we do it that way.  The financial partner can feel confident when the person providing the TK property stays on in the deal...and doesn't just dump it and run.  If that "boots on the ground" partner has the responsibility of handling the issues, they are going to want to provide a property where the management is as easy as possible....since they are the ones doing it.

Well I'd say the first consideration is to differentiate the differences between flipping and buying a buy-and-hold (turnkey or out-of-state or not). Those are two totally different animals- different workloads, different results, different risk factors, etc. So it's not comparing apples and apples. So I'd first encourage you to make sure you really understand your own goals, and then your own interest in how much work you put into an investment property, and then decide between the two options from there.

There are lots of ways to find the good turnkey folks. Plenty of people on here buy them, me included, and we can all offer you our experiences and who we've had good luck with. Reach out anytime if you ever want to chat about it, whether to me or anyone else. Everyone tends to be super helpful on here. :)

I have two town homes currently. One is my primary residence and the other is a rental property. I just barely break even and probably make about $50 a month or so on this rental but it is not a negative cash flow property. I have about 60k that I want to use to acquire another rental but not sure if N.VA is the place to do it as I don't think I can find any decent townhome for $240k which generates cash flow.

My idea is to keep acquiring a few properties  in the next few years which can generate passive income flow.  I am 39 yrs old now if it matters:-)

I have two very young kids and I am not a DIY handyman. I try to work with a handyman every time there is an issue on my rental but thankfully, there are no big issues with it so far...

I also have plans of buying a SFH in this area and making my current town home a rental in a coul

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