Rental Property Investor · Northern Virginia · Member since 2018 · 30 posts · 19 votes
Hello All!
I've been a member of BP for sometime now, but I have decided to actively pursue flipping again. Many years ago, I started investing in San Diego purchasing properties at the courthouse steps and distressed properties on the MLS. I moved to Northern Virginia and I began to put my focus on acquiring rental property. I enjoy the buy and hold strategy, but it's difficult to scale, which is why I'm pursuing the fix and flip model.
I know the NOVA area is very competitive, so I'd love to connect and network with like minded individuals in the area, and see how we can help each other out! I'm working primarily in the NOVA area with an emphasis in Prince William County.
Wholesalers and hard money lenders, please feel free to reach out!
Real Estate Agent · Fairfax, VA · Member since 2020 · 25 posts · 17 votes
3y
Hi Tom! Welcome! There are definitely some like-minded investors in this area. There are a handful of meetups closer to DC where you'll find flippers, wholesalers, and conventional lenders. I don't remember seeing too many hard money lenders attending, but those are present in the area as well.
I'm an investor and realtor primarily focused on helping future investors get started with house hacking. I'm based in PWC as well, just moved back last month actually. I find that the further out from DC the more opportunities there are when it comes to real estate investing. Hope to see you at some of the meetups! One is hosted monthly in Tysons Corner, another monthly in Chantilly.
I've been a member of BP for sometime now, but I have decided to actively pursue flipping again. Many years ago, I started investing in San Diego purchasing properties at the courthouse steps and distressed properties on the MLS. I moved to Northern Virginia and I began to put my focus on acquiring rental property. I enjoy the buy and hold strategy, but it's difficult to scale, which is why I'm pursuing the fix and flip model.
I know the NOVA area is very competitive, so I'd love to connect and network with like minded individuals in the area, and see how we can help each other out! I'm working primarily in the NOVA area with an emphasis in Prince William County.
Wholesalers and hard money lenders, please feel free to reach out!
Hi Tom! Welcome! There are definitely some like-minded investors in this area. There are a handful of meetups closer to DC where you'll find flippers, wholesalers, and conventional lenders. I don't remember seeing too many hard money lenders attending, but those are present in the area as well.
I'm an investor and realtor primarily focused on helping future investors get started with house hacking. I'm based in PWC as well, just moved back last month actually. I find that the further out from DC the more opportunities there are when it comes to real estate investing. Hope to see you at some of the meetups! One is hosted monthly in Tysons Corner, another monthly in Chantilly.
I completely agree that the further out from DC there are going to be more opportunities and less competition. My sister also invests in the area and has had luck getting deals in Culpeper, so I'm looking into Culpeper, Faquier and Warrenton counties as well. I've attended the Traction REIA a few times in Tysons, but plan on attending more meetups, I hope to see you there as well!
I've been a member of BP for sometime now, but I have decided to actively pursue flipping again. Many years ago, I started investing in San Diego purchasing properties at the courthouse steps and distressed properties on the MLS. I moved to Northern Virginia and I began to put my focus on acquiring rental property. I enjoy the buy and hold strategy, but it's difficult to scale, which is why I'm pursuing the fix and flip model.
I know the NOVA area is very competitive, so I'd love to connect and network with like minded individuals in the area, and see how we can help each other out! I'm working primarily in the NOVA area with an emphasis in Prince William County.
Wholesalers and hard money lenders, please feel free to reach out!
Lender · Nationwide · Member since 2022 · 46 posts · 28 votes
3y
Hey Tom,
I'm in the Arlington / DC area. I am always looking to network with investors and realtors. I specialize in purchase and hold, fix and flip and STR, LTR DSCR lending for investors in NOVA, DC and across the country. I just had a DC realtor send me a report on 5 fix and flip opportunities along with comps in the Capitol Hill area. Lets connect.
Real Estate Agent · Reston, VA · Member since 2017 · 295 posts · 163 votes
3y
@Tom Cotter My office is based in Reston. I have attended a few investors meeting some helpful but others not so useful. One thing that
I would love to talk to people about is the cost of repairs in our area. Recently I was doing a update on a rental property that we own and had to meet with 7 contractors before I found one I used. The whole experience left me feeling like, its getting impossible to cashflow our area even after 2-3 years. We are are aware its hard to cashflow right of the back but I my calculation put 2-3 years and you could begin to see some cashflow. Now I think this goes even further out. I could be wrong but would love to here what other think.
I'm in the Arlington / DC area. I am always looking to network with investors and realtors. I specialize in purchase and hold, fix and flip and STR, LTR DSCR lending for investors in NOVA, DC and across the country. I just had a DC realtor send me a report on 5 fix and flip opportunities along with comps in the Capitol Hill area. Lets connect.
@Tom Cotter My office is based in Reston. I have attended a few investors meeting some helpful but others not so useful. One thing that
I would love to talk to people about is the cost of repairs in our area. Recently I was doing a update on a rental property that we own and had to meet with 7 contractors before I found one I used. The whole experience left me feeling like, its getting impossible to cashflow our area even after 2-3 years. We are are aware its hard to cashflow right of the back but I my calculation put 2-3 years and you could begin to see some cashflow. Now I think this goes even further out. I could be wrong but would love to here what other think.
Costs of repairs are still high for quality work. Having to meet 7 contractors is very time consuming, I hope you found one that you can use on your future projects.
I'd say cash flow in this area is impossible unless you're able to find an off market property, something with a lot of equity already in it or use some form of creative financing like "subject-to" or get good terms on seller financing, other than that the price to rent ratio in our area isn't favorable unless you're looking for appreciation. I have one rental in Gainesville that I was able to make work out with good cash flow, because I got it off market, all my other rentals are OOS. I feel like even down the line with rents going up and even if you're able to refinance to a lower rate, the cash flow still isn't there.
Real Estate Agent · Northern Virginia · Member since 2021 · 106 posts · 50 votes
3y
Hey Tom, I'm also investing in the area. It's definitely getting harder and harder though. there is a decent amount of networking events in the area. Hopefully I'll even see you at one. Would love to connect and talk real estate with you.
I've been a member of BP for sometime now, but I have decided to actively pursue flipping again. Many years ago, I started investing in San Diego purchasing properties at the courthouse steps and distressed properties on the MLS. I moved to Northern Virginia and I began to put my focus on acquiring rental property. I enjoy the buy and hold strategy, but it's difficult to scale, which is why I'm pursuing the fix and flip model.
I know the NOVA area is very competitive, so I'd love to connect and network with like minded individuals in the area, and see how we can help each other out! I'm working primarily in the NOVA area with an emphasis in Prince William County.
Wholesalers and hard money lenders, please feel free to reach out!
It's tough in NoVA. Still super competitive but we should definitely talk. I'm working in Northern Virginia, DC and MD.
Gainesville, VA · Member since 2021 · 82 posts · 72 votes
3y
I am in the area and would love to connect. I am currently in the STR arena but I am always looking for new opportunities. The STR market is pretty saturated where I bought my 2 so I am holding off on any more there. Who knows.
Investor · Fairfax, VA · Member since 2015 · 1k+ posts · 796 votes
3y
Tom,I live in Fairfax. I do mostly commercial but have an interest in the flipping business while I'm sitting on the sidelines for commercial. If you PM me I can hook you up with a unique networking group of investors and realtors with no agenda other than closing deals and sharing ideas. You really can't scale unless you put a team in place that shares your same vision.
@Tom Cotter My office is based in Reston. I have attended a few investors meeting some helpful but others not so useful. One thing that
I would love to talk to people about is the cost of repairs in our area. Recently I was doing a update on a rental property that we own and had to meet with 7 contractors before I found one I used. The whole experience left me feeling like, its getting impossible to cashflow our area even after 2-3 years. We are are aware its hard to cashflow right of the back but I my calculation put 2-3 years and you could begin to see some cashflow. Now I think this goes even further out. I could be wrong but would love to here what other think.
The cost of repairs should slowly go down. It was basic supply and demand and demand was outpacing the supply of contractors. They all started asking for more because they could get it. One project I was thinking about had a 6 month lead time for the earliest contractor. Now people are holding back on projects and the price of wood is returning to normal. You might be surprised with the things that you and your partner ( not sure how to address the "we" in your statement) can accomplish yourself. I recently replaced a bathroom vanity going from a single sink to a double which means opening the wall and cutting studs to route a vent loop for the second sink. It took a while but it wasnt actually difficult.
Rental Property Investor · Northern Virginia · Member since 2018 · 30 posts · 19 votes
3y
@Joshua Boshnack, @William Arrington, @John M., sounds good, I'll PM you guys my contact information. I moved from Woodbridge to Nokesville a couple years ago, let me know if you're the area!
John, that sounds great, I would love to be a part of that network.
Realtor · Great Falls, VA · Member since 2019 · 25 posts · 13 votes
3y
Hi Tom,
we also have a meet up in Tysons monthly where we share knowledge with a group of likeminded folks.
Next meeting is April 12th would be great to see you there!
What: NoVA REI Meet-up When: Wed, Apr 12th, 6:30 PM Where: Tyson's Food Court 3 - Located in Tyson's Corner Center - 1961 Chain Bridge Rd, Tysons, VA 22102 (Best Parking is located at "Tyson's Corner Parking Garage C")