All Forum Posts by: Ika Sargeant

@Billy Mcavoy hi there. You will most likely look at the outer side of DMV area for that price point even for townhomes. The area that would yield most would the PG county and a few in outer areas of Montgomery county. 

@Lucas Laria the tax benefit makes it hard to ignore especially combined with the seller market. Without those two things I would ordinarily have been in the keep it corner. Finally I would consider the location of this home in Northern VA. There are certain locations that I would not give up on.

@Zain Jafri Yes buying a townhome and renting lower level works well if done right. Certainly makes sure it walks out or separate entrance. You also need to think about how the tenant in the basement will cook. Often full kitchens are not allowed. @Joaquin Camarasa is right, it is getting tougher in our market to break even. We are seeing unsettled market that is shifting almost from month to month, but in general inventory is still very low. You can do what you are suggesting but it will take a longer period to get to your goal. I can't answer about the demand for rentals in Woodbridge but my hunch would be with the rising rentals, a basement rental would offer competitive pricing. The price would be the attraction.

@John McKee A very interesting question and even more interesting how different investors arrive at their decisions. Sometimes there is not enough money and you might still want in. 20% is a hefty amount.  Ideally I like 20% and plus, hoping it gets me a break even or cash flow but I also think more money required to cash flow is indicative of a tough market. I also think how much people put down is tied to how they assess opportunity cost. Is my money better spent somewhere else?? I would consider a deal with a negative cash flow initially(no longer than 2years) if I think there is a windfall.

@Jeff M. Please add me to your list. I am in Fairfax- Reston area, interested in multis, storage

@Mark A. You are spot on...I am beginning to have a stomach ache about this. What scares me is that prices of homes continue to rise, at least where I live. But reading this thread too is scary because many here believe rents and prices will continue to rise. I think if you remember all the other real estate cycles you need to ask if we are sitting on a bubble. The fact that it has not busted is not prove of its non existence as some people here seem to think. Yes the last couple of years of Free money has driven us into this. I know the demand continues to be strong with extremely low inventories- but does this mean we are going to the sky. But are these assets worth what we have paid? For haven sake people were buying digital coins and asking zero questions about what is underlying the asset they are buying. But may be the rest of us would be left crying after you all fly off in that golden parachute.

@Prashamsa Neupane I would consider Reston's step sister Herndon VA but all the other areas mentioned above are competitive as well. The market is still very tough on buy side.

@Russell William Phillips I do that either as a buying or selling agent on my properties but check if your state has disclosure requirements. States where I am licensed require that I tell all parties- that I have interest/ownership.

@Kevin Forsell Let me just help you... That is a terrible idea and I think you already know it because you are saying it. You would have signed a document stating you will live there for a year. This is not worth it if you plan to be an investor, to build a business on fraud. Sure you can get away as you say it and what kind of agent do you have who is prompting you to commit fraud????

@Anne Grello very tough market on the buy side. If you don't have more money to throw at them, try asking what could be of value to sellers. Check if the seller wants to stay in the home after they sell-rent back, or  other tricks, anything. But ultimately most sellers want to walk away with a boat load of cash but occasionally you run into a seller who needs something other than cash.