New Investor moving to Virginia

5 Replies

Hello, I am new to bigger pockets and I'm planning on moving to Virginia in the next few months and would like to house hack. I am an Army Reservist just returning from Iraq in Nov 2019. I work as a site inspector (FEMA Contractor) and I'm currently working in Wisconsin where my time here should be done some time around June. I own and rent a 2b, 2bath, townhouse in Columbia, SC and would like to become more active in real-estate investing. I intend to initially focus on single family and duplex properties that require moderate fixes. Property prices in the Chantilly, VA area are quite a bit high so to limit my investment until I become more skilled, I'll be focusing on areas with lower prices. I look forward to adding value to all that I connect with and learn from skilled experienced investors as I structure a business system that works best for my situation.

Ernest Davis

@Ernest E. Davis hey Ernest, welcome to BP! Youve definitely come to the right place to learn, network, and grow your real estate business. Sounds like youve got a great strategy for getting started. I also got started by house hacking and it worked out very well. Best of luck!

@Ernest E. Davis I investor/agent in Virginia. Finding duplexes in our area is a bit hard except if you are bringing lots of cash because as you can tell the prices are very high. Prices in the VA and MD have gone up in the last couple of years and its making it harder and harder to find a good deal around here. Areas such a Hagerstown or Baltimore have lots of duplex at a lower cost but you will need to know the risks.

@Ernest E. Davis thank you for your service, and welcome to the DMV.

As @Ika Sargeant mentioned, prices are high here, and duplexes are hard to come by at any price that makes investor sense.

As you get to know the area more, particularly NOVA, you will see that to get to “lower price” areas, you are getting a ways out. The prices you’re experiencing in Chantilly are not really high end around here, but about mid-range for the area. To go noticeably lower, you’ll need to go west beyond Manassas/Gainesville and toward Warrenton, Front Royal, Winchester, or south toward Fredericksburg.

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