All Forum Posts by: Richard Solano

Thanks @Dan Robinson !

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

@Jack Nguyen Do you mind sharing the title companies with me? Maybe send a PM? I'm just getting started and could use some help. Thanks.

@Andrew Michael Do you mind sharing your preferred title companies that would be comfortable with assignment contracts/wholesaling transactions? Please DM me if that's easier. Thanks!

hi BP!

I am considering getting into wholesaling here in Norther Virginia and would like to know if anybody can recommend good title companies that are experienced in assignment contracts.  

Also, if you have a sample assignment contract that you've used successfully in Virginia, I would appreciate if you could share. 

Thanks!

Hi BP!

I'm interested in investing buy-and-hold single and multi-family homes in Martinsburg.  I don't know that area that well, but I've heard there are a lot of Federal Government operations/offices and major companies around town (for example Amazon, Fedex).

Can anybody tell me the neighborhoods the people that work at those employers typically live in?

Thanks! 

@Account Closed I would never make a "buy" decision on a specific property based on cap rate. However, given that my goal is to maximize cash flow for the minimum investment, cap rate seems like a reasonable metric to use to isolate counties to focus on. I am a buy and hold investor that wants to maximize cash flow. I'd like the highest possible COC return. I don't really care about appreciation. That said, I don't want to invest in war zones either as I don't want to worry too much about rent collection.

Thanks again.

@Account Closed Thanks so much for your responses. 

I guess i was including Frederick and Clarke counties in my "Northern Virginia" post.  I realize Arlington and Fairfax are terrible. I live in Reston and the rents that I"m seeing compared to the property values are crazy. I was thinking the second "ring" beyond Fairfax. Thanks again!

Hello BP!

I'm looking to invest in MFH in NOVA.  My focus is buy-and-hold. Can anybody recommend the best counties to focus on? What counties have the best cap rates? Thanks!

@Mike Webb Thanks!