Greetings from Northern Virginia

[Barri F.]

Hello, Bigger Pockets people! After lurking for a few months, I figured it's time to do the official introduction. I'm looking toward retiring from my 9 to 5 job in about 10 years, and want to supplement my 401(k)/IRA and Social Security (if it's still around) income. Buy-and-hold looks like a great way to produce some extra cash flow, so I'm looking to buy rental properties here in NoVa and/or NC. My goal is to buy at least one property this year, then 2 or 3 more each year.

I look forwarding to connecting with others here on the site, and in person if there are local meet-ups in and around Fairfax County.  Any advice or suggestions are more than welcome!

[Chinmay J.]

Originally posted by @Barri F.:

Hello, Bigger Pockets people! After lurking for a few months, I figured it's time to do the official introduction. I'm looking toward retiring from my 9 to 5 job in about 10 years, and want to supplement my 401(k)/IRA and Social Security (if it's still around) income. Buy-and-hold looks like a great way to produce some extra cash flow, so I'm looking to buy rental properties here in NoVa and/or NC. My goal is to buy at least one property this year, then 2 or 3 more each year.

I look forwarding to connecting with others here on the site, and in person if there are local meet-ups in and around Fairfax County.  Any advice or suggestions are more than welcome!

NoVa is not the place you want to look for from buy and hold perspective. The property prices have gone up too much for buy and hold math to work - unless of course you have millions of dollars and want to buy with cash.  Even with that not sure how much the property values will appreciate before plateauing out or even dipping. 

There are parts in Central and Southern VA that are good proposition for buy and hold investment. These are the areas that also have small MF where buy and hold works a lot better than SFH.

Not sure about North Carolina.