All Forum Posts by: Adam Ghrist

@Ethan Josiah It depends on your strategy. For Fix-n-Flip, some lenders will allow a refinance after you purchase in cash where-in they put a first lien on the property and lend purchase plus rehab (90% LTC). This frees up your cash to allow you to keep making transactions and allows them to follow the lender guidelines. For rental, there are lenders that will loan 75% Cash Out, and I have heard of lenders offering more locally out west, with a 3 month seasoning requirement for market value. For primary homes, or house hack strategies, a HELOC may be the best bet, as lenders vary, but overall some strategies will offer the best savings of all. It is very dependent on the lender.

@Russell Brazil This is about as accurate as any prediction we can come up with (and frankly better than most). I would also advise that for investors looking to jump into the market around here just know that Washington DC proper is a bit corrupt but they are starting to get on the right track. They have started this program called Velocity which is essentially a permit expediting process (for a fee). Virginia is a tougher market, especially in Arlington, where there desirable properties have a lot of competition. I STRONGLY recommend joining the local meetup groups and connecting with a qualified agent who knows where to look.

@Brad Winkle Hi Brad, please give me a call or do some homework on us then reach out if interested. We are LendingOne | www.lendingone.com | and if you have done around 250 in the past few years you would get our lowest advertised rates for your flIps. We are national so we can talk some expansion, but I would also want to talk to you about a few other partnership ventures, as well, due to your volume. Regarding our products: we can do Fix-n-Flip, New Construction, Bridge Multifamily, Portfolio, and Rental Loans (Purchase, Refinance, Cash Out). Thanks, Adam Ghrist 561.571.9579 [email protected]

Ah.  Then do Northern Virginia around Springfield or possibly Woodbridge area...maybe some parts of Loudoun County.  The reason being is that Amazon is putting half of their new 2nd headquarters in Arlington’s Crystal City at the end of next year (around your time frame).  I would imagine the surrounding areas of the “blast radius” will experience a high influx of renters for a good cash flow.  

@Chad Davis Hi Chad, Virginia is very different based on the location you move to. Northern Virginia is almost nothing like central and Southern Va. That said there ARE some good investments all over the state. You will obviously want to stay close to the towns if you are looking out in the Southern Va area. To get specific on the HOT locations, say in Hampton VA or VA Beach area, I would join the PREIA and TRIG MEETUP groups, as they are the most active. If you are in Northern Virginia, the closer to DC the better, it’s also more expensive. The exploding area right now is probably Tyson’s corner surrounding areas, and I have heard rumblings of Woodbridge. Again, anywhere around northern Virginia you will be able to find something if you have the right agent. My best advise is to interview some potential agents when you get down here. Lots of GOOD investments are usually off market or on market less than a week so you will need to move fast. Good luck!

I know I am late to the party here, but let me add my two cents as far as where to look for inexpensive, but cash flowing rentals

Petworth: wildcard, prices are all over the place but investors like it because if you are diligent you WILL find something)

Anacostia: even 1 year ago I would not have mentioned this area, but now it is growing, and the fact that Amazon is coming to Crystal City, this is probably the best bet.

North East: Lots of small little pockets, but I am seeing Trinidad, Deanwood, and Eckington grow more than usual (more so with flips) but the condo conversions and rentals are an option, and the entry point is why we are talking.

And of course Baltimore.  Baltimore is HOT right now.  Thanks

Josh, you did the right thing by moving back when you did.  Your area is BOOMING right now.  Walkersville, Hagerstown, And Frederick all are seeing heavy growth with profits.  I’m 37 and I still look back at the way it was when they first started building when I was a kid....man times change.

Anyways, if you are looking for a safe rental, look inward towards Baltimore. You can do some very profitable BRRR's. Good luck!

Hello everyone, I am a builder and lender out of Washington DC. I live in Northern Virginia, and find that once you find your targeted area to flip in, you really don't want to leave the areas winning formula. That said, I do have clients in southern VA, specifically in the Virginia Beach area. My best advice I can give you is to find a qualified real estate agent who can get you the winning purchase price and the right ARVs. You live and die by their forecasts. If you want to look in Northern Virginia, the hot pockets right now is around Tysons Corner, and some buy and holds in Springfield. Obviously there are the Alexandrias and the Arlingtons, but that hasn't changed. If you really want to make some money without investing a whole lot, I would look towards Frederick Maryland, specifically Hagerstown. The spreads there are incredible. Or let me know if you want to take a crack into DC. That's my stomping ground. DCRA (permitting office) is very backwards but you can usually make out if you can find a property that isn't loaded with regulations. Cheers

I would have to agree with this thread, if you are already in Denver then I would stay.  In my opinion Denver is one of the stronger rising markets right now.  However, if you are looking for another location on the west coast, I would try Seattle.  It is ultra competitive in the heart of the city, but there are pockets and neighborhoods perhaps 30 minutes from downtown that are good for what you are looking for.  Good luck

Hi Jacob, we can do both the purchase/rehab and the refinance into the long term rental. We have a 5/1 ARM, 7/1 ARM, 10/1 ARM, and a 30 Year Fixed. I cant give you 100% funding on the purchase and rehab...that part is determined by your experience and the highest we go is 90% Loan to Cost. Our rates are really attractive though so that helps. My email is [email protected]. If you think our program can work, give me an email, thanks

- Adam Ghrist