All Forum Posts by: Emily Lien

I might be totally wrong but I don't see rents increasing that much more. I see headlines of people being priced out in locations nationwide. I don't know how much higher it can go, since wages aren't keeping up.

Oh! I did do the research I could. By the 2010 census, the population has grown by 20% since 2000. It's a relatively diverse neighborhood. Only 7.7% is under the poverty-line. Well-educated area with over half having done some college.

I meant that I don't know anyone personally from that area, so I think the best I could do is read about it and drive around. 

Thank you @Nate Sanow , this would be my first deal. I have some extra money to cover expenses, but I'm unsure if this is where I want my money to be deployed. I'm not that familiar with the neighborhood (1hr drive from me). From what I read on the Wiki, this is a middle-class, growing suburban neighborhood. This actually is an off market deal from a wholesaling company. The condition of the house is perfectly liveable but just requires some cosmetic updates.

@Jaron Walling yes the comps were recent. In fact, there are two under contract. One for 320k and the other for 340k.

@Scott E.That's a great idea. I was so focused on never selling that I failed to see that a flip would work great for this. I believe the numbers are correct. There are currently two similar properties under contract for 320 and 340.

List Price: 235k

Reno: 45k

ARV: $340k

HOA: $100 / month

Zillow Rent Estimate: $2,300

I couldn't find any information on current investor mortgage rates, so I used 8.1% (my HELOC interest rate) for the calculation. My credit score is 790 but since I'll be using my HELOC to purchase the property, it'll probably drop to 740.

From the mortgage calculator below, the monthly payment would be $2,340. I just wanted to double check that I did all of this correctly. It seems crazy that a house listed this much under ARV still doesn't work out to be a good deal with these rates.

Thank you @Jack Seiden! I was also thinking about how buying and moving in as a primary residence doesn't have that much draw right now with the high interest rates. 

Thanks @Chris Seveney! Do you remember the names of any of the groups off the top of your head? Or how I should go about finding it?

Hi everyone! I bought my first fixer-upper in 2020 in Prince William County, VA and have been living in it since. I've overstayed my plan and am eager to find my next place. I have a 150k HELOC on my house approved and pending 340k HELOC on my parents place. I've been reading that BRRRR isn't very possible in NOVA and with 490k of capital I'm priced out of DC.

I've been thinking of shifting my focus to Maryland since I've been reading that in PG and Baltimore county, BRRRR is a lot more viable. Please let me know if you have any recommendations for REA, handyman, and wholesalers in the DMV. I grew up in NOVA so I'm not very familiar with the neighborhoods in Maryland, so any advice on that would also be greatly appreciated! Excited to chat more with the folks here :)