All Forum Posts by: Marielle Walter

@James Wise thanks for the feedback - yes I have looked at Cleveland. I have seen decent homes for 60 k or 70 k - and I wrong on that? I am curious about your comment that financing is the best part of real estate investing (?) - i end up paying almost double the costs of my properties in DC by the time they are paid off in a couple decades. How would it not be more advantageous to buy the same properties in cash?

You make good points about the things to watch out for - I would think a good appraiser and title company could help to mitigate those. I am slightly risk averse - but I wouldn't consider buying a turn-key grandma style house fixer upper, paid in cash, with ten grand for basic renovations, and in a strong market for rental, with a home warranty and property management company, very risky? It is similar to what i have already replicated in my home market, just in a different city, and without a boat load of interest going to a bank...

@Ozzy Sirimsi thanks for the message - my understanding was that a cash buy in Baltimore would run me more like 80,000 (in a bad area and in bad condition), or closer to $150,000 for a decent fixer upper in an area that may appreciate. I had a friend that bought in pig town a decade ago and still not has had much appreciation, so i have been hesitant on Baltimore. Can you share more? I would be open to learning more about the areas where you can cash buy for under 100 k and expect strong rental return and appreciation.  

I am thinking of refinancing one of my houses in Washington, DC, that I have a significant amount of equity in, and using the cash to buy a house in a cheaper market in cash. I am sick of paying interest to a bank! After I pay some other expenses i have prioritized, I'll have about 60,000 or 70,000, plus i could get a renovation loan to do some light renovations of about 10,000. I have heard there are cities in OH that could be a good bet, but would love to get some expert opinions here of where i may start to search! I want to do a buy and hold, fix it up a bit, and rent it for a while, so somewhere that will have a strong rental market and opportunity for appreciation would be great. 

@Alex Hymanson I am curious what your price point is? I have invested and looked a good deal in the fort totten area (the investment has been very successful), have also started to look around Silver Spring and Hyattsville. Would be happy to connect with you and learn more and share learnings!

@Kenny Lincoln Thanks for starting this thread. I am following, as I'd like to do the same. I heard that within a 20 min metro ride of Crystal City, off blue and yellow, will be impacted positively. I was looking at places the cost isnt already very high - like Huntington and Springfield. Would love to hear other's perspectives. When is the Amazon HQ set to open?

@Russell Brazil thanks for that info, maybe i can get it down .5% with another quote, I'll talk to Upen. 

@Dan Robinson , my credit score is high, but I am only putting down 5%... does it sound more reasonable in that case? Or still high? 

I was just pre-approved to purchase a home in the Fort Totten area, and I was given a 5.2% interest rate on the mortgage. This is higher than on my current primary residence. I plan for the new home to become my primary residence. I am curious if this is a fair rate, or if it is possible to shop around? 

@Matt Lefebvre That would be fantastic  - would love to meet. I'll send you a message when I am in the area!

@Matt Lefebvre wow well done - you are a personal hero of mine! I love how successful you have been with the concept. I'll be up in Brentwood, NH, visiting family and would love to come take a look at your space in Manchester. Very cool you are doing another in Concord, I bet it will be just as crazy successful. I will definitely check out your website and follow along.