All Forum Posts by: Ahmad Aram

I have found most investors are going the flip route with older homes or those that need work. I just missed a deal in Reston for a fixer upper that was well below assessment. Stayed on the market all of 4 days. No doubt if you have the capital for either all cash or simply having a syndicate, cash flowing residential here can work. 

I am Still searching for that condo that I can grab a hold of. I do know to stay away from Reston and Market St. as they have apparently banned rentals.

Welcome to BP Eric, Also a NOVA resident who is looking to pull the trigger on my first place(primary residence first of course). Trying to navigate this whole process and what to look for. Would be great to connect with you all and bounce ideas off of each other.

 This^ I spoke to one property manager at The Carlton house in Reston and he told me they have no rental cap. And so far only maintenance is an elevator "remodel" not fully replace but replacing what is needed. I find speaking to some residence if you can find any around when you go and ask about the place is a great indicator.

I am pretty much in this same position literally. Price point, Locations, etc.

I have been primarily looking at Reston, Tysons/Mclean, And Clarendon. The "hotspots for folks who want to be close to their office/Town centers.

Condo fee listed is pretty average around here even for a ground level. Granted most of the buildings near me are "high rise". I have been looking at a lot of "Old Mclean/Tysons" condos. And they are priced 275+ and larger than newer buildings(duh). Just have not pulled the trigger yet. Also would be my primary residence for a year.

This can most definitely vary. It could be they have all closed? That there simply are no units/rentals available. My guess is you do not have access to a MLS and simply Zillow? I believe Zillow has this information on what closed recently. This could give you a better idea of what it could rent for or how long it might take. Sorry not much help with Zillow since I use the MLS lol

Hi Michael! Also a NOVA based REALTOR and I hung up my license with Long and Foster. Granted I want to do investing but it does not hurt to try and make some great connections/sales working as an agent. 

I do have a full time job that I work as my primary income so this is more for fun/expanding my horizons. So would be worth looking in to. They are great. Lots of classes/teaching to get the gist of things. And plenty of resources for marketing yourself. 

I'd be happy to go into detail if you want. Feel free to DM me.

EDIT: Sorry I just realized this is 3 years old! I am Half asleep HAHA

Pretty much what everyone has said. There could be a motive. But if you have had a conversation and set your expectation on the kind of houses it could just be he's sending those? 

He is your agent so give him a call or ask for an explanation. He is obligated to be "obedient" to you within reason.

What Kristine said above. Plus what are your avenues for advertising? Simply Zillow? Have you tried Facebook marketplace? Facebook Groups? Any other social media/marketplace platforms? 

Anything to get exposure is going to help. You could get lucky and some parent comes across the post on Facebook for their kid.

Best of luck of course! Interested to hear if you snag someone

Thanks for the info John. I will be weary of what the HOA rules are. At least the big ones. For sake of condos it's really all that is in the region lol. Kind of limited in my avenues haha

Hi Everyone. If you notice my posting history I am investigating purchasing my first condo in the next few months and am investigating some potential scenarios.

I am looking into living in the unit for a little over 1 year and putting it up for rent either with HCV/Section 8 or finding a tenant through my brokerage(L&F) or other means. 

Anyone have any experience with Section 8 and their requirements for Condos? My immediate order of steps is to ask the condo association if they allow rentals. But not sure if I have to inform them of a potential Section 8 tenant? Seems a bit discriminatory if I had to? Or if it matters? And the percentage of units that can be rentals as another member informed me of this(Thanks!!).

And in regard to rent they more or less guarantee that your mortgage is being paid. With no residual/profit?

Any advice here is appreciated! Interested to hear everyone's experience. I have heard things on both sides. 

Thanks!!