Alexandria, VA · Member since 2015 · 3 posts · 2 votes
Hello BP Community,
New member here finally taking the plunge and contributing to the great forum content. I've been following the podcasts and blogs for quite awhile now and am looking forward to my first deal in 2017.
I am looking to network with flippers and/or buy and hold investors in Northern VA (Fairfax, Arlington, Alexandria, etc.) as well as Richmond, VA. I would love to learn more about your businesses and see how I can be a value add to your operation.
@Adam Owens i live in Florida myself but will like to get into the Flipping properties around DC and PA area. can u give me some advise. how do you guys get a lead on properties? Do you use MLS to buy properties? i also need a mentor in this business. can a be partner?
Welcome and best of luck. I live in Washington myself but have all of my cash flow and flip properties in PA. I partner with a group, fortuneforeclosures.com, all properties run 40-60k, 12-20% return on average for land contracts and cash flow and 15-30k on each flip, turn key and usually a 2 month turn around.
All are in the Pittsburgh area and off the market.
Hi Jeremy, wlecome! I am a one time investor so far in Florida, but live in Alexandria VA (rent) and work in DC. I handle some property consulting up here around the Old Town, Alexandria particularly short term listing management and advertising.
I cannot offer property management services personally at this time, but if you need referrals for a terrific handyman or tax professional once you are established, feel free to ask.
In Alexandria, a "short term," rental is under 3 months. I recommend if you purchase in Alexandria to take advantage of this by offering furnished all inclusive rentals for 3 months or more. The transient need is high in the area due to contract employees, students, and interns between 3 to 6 months. You can expect a higher quality tenant and higher income, although it is more time intensive. Please be sure to check the local rules at the time you purchase if you go this route, but for now, this longer term, but less than 6 month term market is a niche that needs filling.
@Adam Owens i live in Florida myself but will like to get into the Flipping properties around DC and PA area. can u give me some advise. how do you guys get a lead on properties? Do you use MLS to buy properties? i also need a mentor in this business. can a be partner?
Hey Jeremy. I am also looking to invest more in the Richmond area. I currently have 2 rentals just outside of Richmond plus my primary. I really want to get into the flipping world. I would say $100 per unit is pretty attainable in this area. I profit about 4-5X that per unit currently in that area. Feel free to shoot me a message. I tried to private message you but couldn't figure out how to do so haha. But if not, then best of luck to you bud!
Welcome to BP Jeremy, I am in Leesburg VA and flip properties up in pittsburgh. It is an awesome area in that properties are much less expensive there then down here and you can get a nice return. Rental market is great to. Best of luck on your endeavors...