Fix and Flips in Prince Georges County Md. / Wash. DC ?

[Tracy DeVore]

Hey there Maryland/DC investors.  I am looking for your advice on what cities in PG county are good areas to buy fix and flips and what neighborhoods in DC are good for the same?  

Thank you in advance for your help

Tracy

[Russell Brazil]

Originally posted by @Tracy DeVore:

Hey there Maryland/DC investors.  I am looking for your advice on what cities in PG county are good areas to buy fix and flips and what neighborhoods in DC are good for the same?  

Thank you in advance for your help

Tracy

 Hyattsville, Riverdale, Mt Ranier, Suitland, Ft Washington.

Brightwood, Petworth, Trinidad, Deanwood, Anacostia, Riggs Park, Eckington, Bloomingdale, 16th St Heights, Columbia Heights.

You will need a gross margin, difference between acquisition price and ARV, of about $250k in DC, and $225k in PG county assuming a light to moderate rehab. Heavier rehabs will need a larger gross margin.

Most people currently are needing to use an ARV that is projected for when rehab is complete. Using an ARV based on already closed comps wont really work in this market since everyone is using a projection and paying acquisition prices based on projected ARV.