All Forum Posts by: Dev Paul

Thanks everyone for your responses. My ideal property will be somewhere close to beach, mountains or some picturesque valley etc (as in the case of Shenandoah valley in VA), and perhaps has little scope for fixing (not complete run down or the foreclosures ones) so that i can get more value for my investment in the long run. Since i live in NYC metro area, i want to start with places close by including VA, MD etc. I know airbnb rules are not very favorable in these areas and also the season is not year long, but close proximity will help in terms of self managing or even hybrid management model. But, surely Florida or the carolinas are pretty good options too.

Hope everyone is keeping safe during these bizarre times. Before covid *****how started and took over our lives, I was on the verge of buying a vacation rental in Florida Panhandle by flying down in March end and finalizing a property. At first, like many of us, I thought it will be over by summer and i might be able to go ahead with my plans. But then the wait for the end of pandemic started which still hasnt ended. In all this i had to take this decision of letting go of my plans as common sense suggested that with this economy and fear created by virus, people wont be traveling much. So buying a 500k+ property didnt make sense.

Now with beginning of the end of pandemic in sight, i had again started to analyze the market and it seems people are traveling again and especially by car to nearby places, beaches etc. Looking at the trends, it seems buying a property in some semi hot areas rather than usual hot/popular places might be a better strategy in today's times, considering less spending power of people. So a 200-300/night for a whole house near some beach in texas or South Carolina will have more takers than 1000/night in palm springs, california.

Not sure if you guys agree with this, but just in case which states/areas/towns you may suggest where one can get a decent or semi decent property (full home rather than condo) for less than 250k and is reasonably popular among tourists and can get 250-350/night?

Thanks!

Thanks Jonathan. Honestly I dont care much about outdoor space or parking. I need a good building and area. 

Thanks for your replies, guys.

What's the current situation in Northern Jersey in terms of demand and supply? I have shortlisted Jersey city and Hoboken due to access to NYC and good rental market (Also I live in the area currently). Im looking to buy for myself- a single guy. Budget is 500-525k max, with monthly payments (including taxes, insurance and HOA fees) not exceeding 3000, preferably 2600-2700. Can go for either 10% or 20% down payment. Ideally a 1 bd 1ba condo, but can settle for a studio if its really nice building. Dont want to buy in an old building or a run down area. Any pointers? Also, any other nearby towns on the train line, no longer than 40 min commute to NYC, I can consider? Open to similar places in NY state and CT as well. Thanks in advance.

Well, what about certain pockets in Manasas, VA or as others have pointed out certain places in MD which could fit the bill. I'm aware that in fairfax, arlington and even loudon, new town homes are not less than 500k-650k, but im open to little away from these areas as i mentioned earlier.

Thanks so much for your replies. This is very helpful. 

Thanks everyone for your replies. I was looking at some new construction homes in Manassas, Va and Beltsville, MD, which seemed to be in my budget. Rest, im still researching.

@Chris as I mentioned, i work mostly from home, so commute is not an issue. Where exactly is your community?

Yes, as of now, im planning to live myself, but in the long term it will be more of rental property. I work in a business where i can work from home for the most part. So, anywhere in the greater DC area as long as its not too remote works for me.

Thanks for replying. My brother lives in Chantilly, Va, so anywhere in the vicinity of that-will be ideal, but im willing to go up until 45 minutes-1hr away from DC. What about Frederick county?