New Northern Virginia CRE Investor

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New Northern Virginia CRE Investor

Sean Prato
Realtor · Ocean County, NJ · Member since 2021 · 27 posts · 12 votes

Hello everyone!

I am looking to get into the Northern Virginia CRE investment market, focusing primarily on multi-family properties. Without sounding too in over my head, I do not have any properties in my portfolio and I am most likely looking to be creative with any financing that may be required of me.

With that said, I am most interested in smaller properties (5-15 rentable units).

I do not know how feasible it is in the Fairfax County area, but I would be looking mostly for a seller willing to do a master lease option - as I am not able to provide large amounts of upfront investment capital, and I would rather avoid taking out large loans to pay any down payments.

I am sure that for the area, it may be unlikely to find what I am looking for - but if anyone has any leads or can offer any tips I would much appreciate your time!

Kind regards,

Sean

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Taylor L.
Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
5y

My biggest recommendation would be to go to Meetup.com and join every local multifamily meetup you can find and attend them religiously. Jason Stubblefield has one up in your area that has been virtual for the duration of the pandemic.

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  • Taylor L.
    Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    5y

    My biggest recommendation would be to go to Meetup.com and join every local multifamily meetup you can find and attend them religiously. Jason Stubblefield has one up in your area that has been virtual for the duration of the pandemic.

    1Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y
    Originally posted by @Sean Prato:

    Hello everyone!

    I am looking to get into the Northern Virginia CRE investment market, focusing primarily on multi-family properties. Without sounding too in over my head, I do not have any properties in my portfolio and I am most likely looking to be creative with any financing that may be required of me.

    With that said, I am most interested in smaller properties (5-15 rentable units).

    I do not know how feasible it is in the Fairfax County area, but I would be looking mostly for a seller willing to do a master lease option - as I am not able to provide large amounts of upfront investment capital, and I would rather avoid taking out large loans to pay any down payments.

    I am sure that for the area, it may be unlikely to find what I am looking for - but if anyone has any leads or can offer any tips I would much appreciate your time!

    Kind regards,

    Sean

     DC is the richest market in the country. About 1 out of 4 properties are purchased in cash.  I think the probability of finding an owner willing to do a lease option is pretty small. 

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  • Aj Parikh
    Rental Property Investor · Centreville, VA · Member since 2019 · 1k+ posts · 799 votes
    5y

    Welcome to BP! I haven't heard of multi family properties in northern virginia area but they can be converted into one by adding rooms to your SFH. But I am following this thread

    0Reply
  • Michael Nijhawan
    Real Estate Agent · Lorton, VA · Member since 2015 · 61 posts · 10 votes
    5y

    @Sean Prato Nice post! I’m also in Fairfax County and just got my real estate license and trying to do investments as well. Let me know if you want to maybe team up at some point because I also don’t have a lot of upfront investment capital but perhaps our efforts combined could make us profitable.

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  • David Fernandez
    Real Estate Agent · Vienna, VA · Member since 2016 · 289 posts · 253 votes
    5y

    Fairfax County + MF + Master Lease Option = GOOD LUCK!!

    There are many different investment strategies/niches that work in Northern Virginia. What you aspire to do is not one of them. 

    If you really want to invest in real estate, either find a market where your strategy works, or work on a niche/strategy that works in the market you want to invest in. Otherwise, you’ll get frustrated and/or lose money. 


    1Reply
  • Samir Patel
    Rental Property Investor · Herndon, VA · Member since 2017 · 65 posts · 20 votes
    5y

    Welcome to BP!

    I'm also an investor in the area and have been looking for cash flowing deals. As Aj mentioned, finding multi-family properties in Northern Virginia can be tough. I've seen a few pop up near the Winchester area. Not sure if you're looking to invest in that area but I might start there if multi-family is what you're looking to do. Best of luck!

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  • Deneuve Brutus
    Investor · Woodbridge, VA · Member since 2019 · 162 posts · 64 votes
    5y

    Hi @Sean Prato, in my experience Northern Virginia is not the market for small MFR. A MLO does sound like an interesting strategy, thanks for posting I learned something new! As some has mentioned the market is cash heavy. I haven't heard/come across anyone who has successfully done so in NoVa, though not impossible. You may have to expand your market to central VA or even out of state. I think you should look at markets with a wealth of small apartment units available.

    0Reply
  • Joaquin Camarasa
    Real Estate Agent · Springfield VA · Member since 2018 · 479 posts · 400 votes
    5y

    Firstly, congrats on your first post and asking questions so you can be aware of what is possible in our area. Secondly, as others have mentioned what you suggest it is not doable due to your lack of cash, also a lot of connections would be needed to come across a good deal in the MF space. 

    I would recommend starting out like most of us in this competitive market, househack. 

    Being successful in Real estate is pretty much like building a house if you do not have a solid foundation (learn how to be a landlord, learn about small renovations, manage contractors, network) the house will not get build or worse fall apart. 

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