All Forum Posts by: Soup Nikk

Folks,

I am doing my initial research and starting to look into Ashburn, VA (and some of the surrounding areas Mclean/Vienna etc.) for a buy and hold rental real estate preferably single family/town home. I thought I would put this out in front of the real experts and get some advice on what cities/neighborhoods to focus on. The rental would be targeted more towards families with kids or married working professionals who have just moved in the area. The price target is more around 200k-300k, however, I am not sure what is the rental income scenario in that area. I am also not sure if this is a good market to invest in or if the prices have gone up quite a bit and it's a lost cause.

Any inputs and guidance would be greatly appreciated. Thanks in advance!

Regards,

Soup

Hello Biggerpocketers,

I am newbie to rental property investment (as well as biggerpockets!) and just getting started on my first deal. I have chosen the Durham market (primarily for 2 reasons, I am tad bit familiar and also would like to own it as either a secondary home/rental property).

The question that I have is, property taxes in Durham county are pretty high, roughly 1.3%, but I have been told by a property manager that the assessed value always comes up lower than the actual fair market price or the sale price (on a new home), and it's more in the tune of 1%. How true is this based on all your experience?

I am considering a new town home as a starting point and would love any advice around that as well (if it's a bad idea / gotchas around that).

Regards,

Soup Nikk