All Forum Posts by: Rickey Davis

I'm currently trying in start investing in Fredericksburg or Stafford Virginia area. The problem is I'm looking to obtain a rental property but none are passing the 1% nor the cash on cash ROI test. Most returns are 6% or less. What is the best method to real estate investing in areas where homes are expensive with little or no deals out there. Please Help!!

I'm trying to invest in Virginia about 35-40 mins south of DC. With townhomes 300k and up and SFR's around 500k and up. What would be the best method for me to invest 20k. Wholesaling, flipping or buy and hold. I'm hearing Fredericksburg, Va which is 15mins south would be the best market for me to invest. Any ideas on where I should start or which method to take? I already own a home so house hacking wouldn't be feasible.

Thanks a lot Jaysen. You couldn’t have answered my question any better. I will take your advice going forward.

I bought my house for 220k five years ago. It is now valued at 290k. I put no money down and I'm trying to figure out if is worth selling or renting. When trying to calculate cash on cash ROI what number would I use for my initial investment? Would I use the amount that I have paid down these five years or the value that is worth due to appreciation. Or would I not use this at all seeing a started with no money down? Just need to understand how to calculate before I decide to sell or rent.

Current home will rent from $1700-$1900

Would pull out around $50k from refinancing 

I live in dmv area. 45 mins south of Washington DC 

I plan on holding the property and renting

I am new to investing

Should I refinance my current home and use the equity to purchase a new home and make my current home an investment property?