All Forum Posts by: Eddy Dumire

The best move depends on a few factors in my opinion.  First, how much will it cost to fix? Second, what are the terms of the remaining mortgage?  Third, what is the potential cash flow?  Fourth, what are your long term plans?  

My family and I own properties in Dale City, Stafford and Fredericksburg. If you want to pm me with the address and mortgage info I'm happy to take a look.  By law I have to disclose that I'm a licensed sales agent in Virginia, but there's no commitment.  I'm just trying to help you out with info.

@Miranda Mayuiers Your situation isn't that unique... I'm in exactly the same boat.  I'm changing jobs and my new employer is in Owings Mills.  I will need to be there 2-3 days per week and have been looking at my options.  My first idea was to buy something small and do short-term rentals for the days I'm not using it.

I've also considered buying a tri or quad-plex or even something a little larger around 5-12 units and keeping one for myself.

My other option is to buy something with a walk-out basement and rent the other two levels out. I'm a relatively seasoned BRRRR investor in Stafford/Fredericksburg VA but wanted to look into more profitable markets anyways.

Would it make senses for us to look at a JV?

I have a very large number of points on my Chase Sapphire and Amex and discovered I can get nights at the Hyatt near work for 5000 points so my current plan is to take it slow and learn a little about the market before jumping in.

@Russell Brazil do you do business in Baltimore? I'm an agent also, but only licensed in VA so I'll need some help.

I'm a maybe.  I'll do what I can to make it.

I'm going to try to attend, but I have a very hectic schedule.  FYI, I downloaded the calendar invite and the time came up as 7:30 to 10:00.  It may be my local machine, but seems like there may be an issue with the add to calendar feature with BP.  Everyone may want to double check the time if you add it to your calendar from the link.

Ryan,  I live in Stafford and invest in Stafford and Fredericksburg.  I really like Nageotte, Nageotte, and Nageotte, PC in North Stafford for my settlements.  I haven't specifically done a Subject To with them but they've always been super helpful.  Please reach out if you need any more help.

Look at turnover time in mls.  Your agent should be able to help you. Need an agent? 

The house looks like it's in really nice shape and well maintained.  I didn't look at comps so I cant speak to price.

I'm definitely not an expert and my wife would say that I have little stylistic vision,  but it feels to me like there isn't good flow of style choices throughout the house.   

The kitchen looks like it belongs in a different house altogether as does the bathroom with the grey and white modern looking tile.  Other things like the wood trim are dated.  It's very expensive and nice wood, but should probably be painted.

I think if you went more neutral you'd have more mass appeal.  Greys are trendy right now but it feels like things will move on from that soon.  

I hope this helps. 

Eddy

I'm an investor in Stafford and Fredericksburg.   I'm happy to help if you need some specific guidance.   Please PM me if interested.

Also. I read that Amazon employees are something like 55% mass transit users so the best access would be along the DC metro blue and yellow lines.   I envision little pockets of appreciation around each metro stop.

I agree with Russell on this.  I see most of the growth inside the beltway,  but because of the dynamics places like Woodbridge and Stafford and Fredericksburg will see secondary growth as the usual residents get priced out.  It'll be something like a blast radius.  The cool thing about the suburbs further south is that they already cashflow and will appreciate some too.  I own 4 rentals in Stafford and Fredericksburg so I'm hoping to see some appreciation but I don't expect double digit growth like they may get in Arlington.