First purchase in Winchester

[David Cornett]

Hi all,

I'm based in the DC area and I am planning on making my first RE purchase within the next couple of months.  Most of my immediate area and even futher out in the suburbs don't seem to cash flow at all, and I'm looking for a cash-on-cash return comfortably above 10%.  So, I've been looking into communities a bit further out but still within an hour or two's drive like Frederick, MD, Fredericksburg, and Winchester.

My initial search found plenty of properties retailing around 100K or even lower, with TH rents averaging 800-900 and SFRs being around 1200-1300.  Overall, this seems like a very good sign (I know it depends on the indivual deal/property).  

Are there any concerns about the area with crime or being hard to rent?  Also, if anyone knows an agent who deals with investers (preferably an investor), I would appreciate a referral.  Any general advice or recommendations would also be appreciated!

[Andrew Michael]

@Russell Brazil would be a good start especially for your Frederick needs.

Frederick is a great area and has a lot of renters.  Of course it depends what part of Frederick you are referring to but I would say most rentals that are in good condition could be filled within the 3-4 weeks times frame.  As for crime, Frederick is a very safe place and there are only a few select streets/ neighborhoods I would shy away from.  Again, Russell has a pretty intimate knowledge of the area and will be able to help you out.  

Sorry I can not speak on the other two areas you are looking into.