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Updated almost 7 years ago, 01/17/2018
Rental investment within 100 miles radius of Washington DC
Hi, and Happy Holidays to All - I'm new to BP and overall new to REI.
I'm here to learn and seek advices from the more experience investors so i can make a well informed decision on my first rental investment (buy and hold).
Being local to the Northern Virginia (NoVA - WashDC suburbs) markets, the prices are relatively high and generally out of my $275k pricing budget.
Originally i was looking for a condo in reston and other desirable areas (arlington, vienna, etc), however the condo fees can range from 200s to 600s+/mo. this will likely decrease the cash flow and therefore may not work.
Question is: besides NoVA areas and within 100 miles radius, are there other areas that meet the following requirements:
- easy to rent
- low vacancy
- positive cash flow
- up and coming
- appreciation
- ready to rent or minor repairs
- up to 275k price
appreciate your thoughts.