Newbie from Northern VA (NOVA) / DC Metro
Hello, I'm a new investor from the NoVA area. I just closed on my first investment property in Tampa, FL (20k Down, 5k closing, 80k price). I am saving up cash as I work a full time job to build my portfolio. I was thinking of investing in the Dallas, TX area (turn-key or rehabs) but would prefer to invest in a county that I can drive to near NOVA (anywhere within 3 hours drive). My strategy is to invest in SFH or multi-units valued between 40-100k hoping to follow the BRRRR strategy.
My biggest issue is finding a market that fits that price range and contains good rentals. I was thinking Philadelphia / Baltimore / Richmond? Let me know if anyone has any suggestions!
Most Popular Reply
Welcome to BP @Joseph Bisaillon
There are certainly places within driving distance of NOVA that meet your criteria. Baltimore is one.
I would not be buying in TX if you live here and have a unit in Tampa. Stick to a market that you can learn inside and out. The more you spread yourself out the less you will know about each market. The best deals and the lowest risk comes to those that know the market best.