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Updated over 1 year ago,

User Stats

2
Posts
4
Votes
Zain Jafri
  • New to Real Estate
  • Northern Virginia
4
Votes |
2
Posts

Woodbridge VA - first time home buyer looking to house hack

Zain Jafri
  • New to Real Estate
  • Northern Virginia
Posted

Hi BP family!

I am a 23 year old first time home buyer in the Woodbridge/dumfries VA area and looking to house hack to begin my REI journey!

I am looking at townhouses and am planning on renting out the basement. Was wondering if anyone has any experience with renting out townhouse basements? My main worry is finding a townhouse with a separate basement entrance as well as issues with accessing that entrance if the townhouse is a middle unit and not an end one.

My plan is to live in this townhouse for about a year or two, move and rent the entire unit out, and rinse and repeat. My only worry is mortgages are looking to be around $3200-$3500, and from what I can see rental rates are quite a bit below that. 

Does this seem like a good idea? Does the Woodbridge area have a good demand for basement rentals? 

Also am interested in meeting and connecting with other investors in the northern Virginia area if anyone knows of any chats or meetups!

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