All Forum Posts by: Jamal Atwell

I'm looking for some good advice on what to do in this scenario.

So I have a SFH with a $700,000 purchase price and expecting to sell it for ~$760,000 (not sure what it will appraise for). The mortgage payments on the home are $3600 and there aren't many comps in the neighborhood that are renting. There was a home that rented last year for $3400 so that's something to go buy.

The area is Kingstowne which is in Alexandria, Virginia. The neighborhood is growing and it's already an upscale neighborhood. There is a Wegmans that's coming to the area and the mall is being revitalized.

That being said is it worth it to hold the property and hope for it to appreciate or go ahead and sell it?? Thanks for any advice!

Hello BP!

I'm in the process of trying to get out of analysis paralysis and actually jump in to some house flipping. Unfortunately homes in the DC area are ridiculously priced unless you invest in "at risk" neighbors in SE DC for example. Which leads me to my question...

Is it not recommended to invest outside of your area if you're new ? I could afford to flip homes in baltimore or richmond but they're both in excess of 2hrs away...

Does anyone have any recommendations for how to get my foot in the door?

Invest in DC with a hard money lender?

Invest in Baltimore or Richmond?

Give up ? (Just kidding)

Thanks for anyones input!

Hey welcome David! I'm in the DC area and I'm new to the site as well. @Au Dang 's recommendations were great! I got the same advice too. Lisa Philips' blog is great and I plan to make it out to one of the meet ups the next time around.

I'm still new to flipping and stuff but I believe a 203K loan is what you're looking for. I think those loans include rehab costs in the loan.

Hey @Shayne Brescia ,

Unfortunately I'm not the experienced person you're looking for but I'm also in the DC area looking to start my first project. It'd be great to connect with you!

Jamal

Thanks @Paul Timmins . I've done all of those steps except purchased J Scotts books (will be soon) and attended and REI meeting ( will be soon). I've done a lot on this site for my one week! Thanks for the tips.

Jamal

Awesome! Thanks Roger! I sent an invite to join the group and I e-mailed you as well.

Jamal

I might be jumping on this here but, I'd like to make it to one of these meetings. How do I sign up and find out when the next one is ?

Jamal

Hello everyone!

My name is Jamal and I'm in the DC area trying to learn about house flipping. I'm hoping to meet great like minded individuals in the area and on this forum! I look forward to be on the forum.

Jamal

Welcome Kevin!

I'm from the Arlington area so I'm nearby.

Good luck on your investing

Jamal