Looking for motivated and knowledgeable broker in DMV area

[Billy Mcavoy]

Hey All, 

I’m looking to invest in townhouses or multi family as medium-term rental properties in the DMV area. I’m seeking a highly motivated, responsive, and knowledgeable broker.  Price range is $150-350k and timeline is 6-9 months. Happy to chat about other details in property I’m searching for to help refine search. Broker will also need to have good references for contractors, CPA, and property managers. 

Thanks for the help!

Bill

[Joaquin Camarasa]

Quote from @Billy Mcavoy:

Quote from @Jamie Banks:

I live in the DM(V) and it's going to be hard to find something in that price range for a multi unit unless you go north to Baltimore. However, I'd consider renting by the room in this area. I'm currently renting a room in my home in Reston to traveling medical professionals and I've been pleasantly surprised at the demand. There's a ton of travelers going to Reston Hospital and INOVA in Fairfax. 

Just to clarify I’m also looking for townhouses. 

Even for townhomes I don't think you could make it work. Are you planning to finance it or pay cash?

If you are doing 20% down and financing the rest there is no way it'll cashflow with current interest rates. The area closer to the price point you are looking at in NoVa would be Mount Vernon and I think knowing well the area would be very important. In MD potentially you could find something around Riverdale/Hyattsville in that price point. I am not sure about the demand of mid term in that area however.