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Richard Solano
  • Reston, VA
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Returns for flippers in NOVA

Richard Solano
  • Reston, VA
Posted Nov 28 2018, 11:21

Hi BP!

I've started wholesaling in NOVA and was interested to know:

1. For all you NOVA "flippers" out there (i.e., rehab and resell) - what kind of return on your money makes it worth it to invest? 10%? 20%? 30%? more? less?  I'm going to make an offer on a property that requires a few renovations, and want to ensure it is "wholesaleable". I want to make the most attractive offer and still make it attractive to cash investors that want to flip it.

2. For those of you NOVA "buy and hold" investors, what kind of cash on cash return would make you interested in buying a property in cash? 5%? 10%? more?

3. I realize market evaluations are complicated, but generally speaking (i know there are exceptions and every house is special, etc., etc.) BUT, my sense is that areas like Manassas and Woodbridge are more conducive to buy and hold investors and Arlington is better for "buy/rehab/flip" investors.  

Any perspectives are appreciated!

Rick

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