All Forum Posts by: Rob A.

I am looking at a bunch of properties to find my first rental...

Looking at 3-4 bedroom, 2+ bathroom SFHs, rents in the area are about 1200-1400.

I am looking a properties that range from about $70,000-90,000. I'll put down 10-20 % (the least I can do an get the mortgage...).

I have done the math and even with the 50% rule I come out with over $100 positive cashflow.

I know this is a general question, but am I missing anything??

Thanks

Franklin,
I am certainly looking in the area as that is where I am...

I am looking in areas like Woodbridge and Manassas, homes are listed closer to 100k and rents seem to be over 1000.
I see lots of inventory including foreclosures but that makes me nervous about the rental market. I am also looking Herndon VA and parts of Maryland.

I have found a few interesting properties, but I am still in my due diligence phase. Mostly making sure what I can really get for rent, etc.

Well I'm not sure I would call it a bad market...but I want to be a cash flow/ buy-and-hold investor and cash flow can be tough around here. Within DC there is not much to consider (that I can find, please correct me if someone else sees it I would love to be able to buy close to home)

Currently I am looking in Northern Virginia, there are some towns where I am finding average rents to be about 1200-1300 and REOs listed for just under 100k...if I can get them down to about 60k then I might have something. This is about 35 minutes from home, so not to bad.

Hi all.
I'm a new investor currently living in DC.
I bought my last home as a fixer, it was a duplex, so I lived in half and renovated the other half, then sold the whole thing back in '03.
Currently have an apartment on the first floor of my townhouse that I rent while I live upstairs.

I'm looking to expand and pick up some rental properties in the area. DC is a little tough to find good properties at prices that allow cash flow so I am looking in NOVA and Maryland.

I have been reading lots of great info on the board so far.

-Rob