Looking for Buy & Hold Annandale towards DC

[Katie Werback]

Hello Team!

I'm new to Bigger Pockets but just got the word that the military is sending me to DC next summer. This will be my third (and most analyzed!) home purchase, both of the others are now rentals. I'm looking to purchase somewhere in Annandale area or towards DC but am looking forward to using all the tools I now have at my fingertips. I have some time before moving so not only is this not a rush but I like the possibility of a bit of a fixer upper.

Thanks!

Katie

[Chris Seveney]

@Katie Werback

I live in annandale and right now the market is out of control. I looked at a house today with ARV of $700k needs $200k worth of work and has offers over $600k.

For buy and hold you will not cash flow unless you have a significant down payment but your ROI will be very low. You will need to hold it for a long time to gain the appreciation

One thing to consider is right now rents on the area are down 5% and expected to be down next year before recovering.

Point being proceed with caution.