All Forum Posts by: Jimmy Nguyen

@Jesse T. Hey Jesse, funny you mention this. So I saw a post my realator friend posted up yesterday about an investment property his colleague had (this colleague does more investment properties). The property was nice from post I saw they gave me and they specifically stated a "great investment property in Manassas." I know Manassas decently well since my first income property is there.  I reached out to the the realator who had the listing and the property was basically market price so basically..what deal??? I'm starting to notice this with a lot of realators. They seem to just think that a affordable house in an high rental neighborhood is a good investment property. I know it's because the market prices have gone up but for us investors, it's def not even close. 

Thanks James for the input! I talked with a few already and they don't really work w/ investors that much. I'll have to expand my search a bit. I'll reach out to you also in the near future to see what opportunities you have!

Thanks,

Jimmy

Hey everyone!

I'm trying to get some insight on what I should do with my next real estate move

Current situation:
I just bought my perm residence a few months back, I put 15% downpayment, will have 20% by next year.

I am looking to see how I can get a new rental property.

Choices:
1 - Refiannce on the new property and use money to make a downpayment on a new property
2 - Save up 20% for a new property
3 - Try to quliafy for FHA loan

I am wondering mainly in NOVA because our market is tapped out, is it even a good time to buy right now when everyone is saying the bubble will burst? With the market prices so high, making any money off of rent to pay for the mortgage is either break even or make $100 or so, so is that even worth the risk?

I see a lot of people use the BRRR strategy but I just don't know if it really works in our area.

I was thinking of looking outside of the NOVA market and maybe go though MD etc but I don' t know the area as well and do not have partners etc in those popular areas of interest like Bmore.

Any advice would be much appreciated!

Jimmy

Keep looking around the forums @Durrell Lebrun there are a few investors in NYC, @libby tucker has a thread up about NYC and it's pretty good

Hey @Brian C. DM me when you're ready! Right now, only VA

@Cheryl P. I have a great contractor if you ever need one for any of your investments. He has come up half of the cost as other contractors I have gotten estimates for. 

@Mike Hudson my ideal next move would be a flip if possible just to generate some cash. After a flip or two, I would like to do a multi-fam rental. Maybe we can talk to Logan about his properties

@Logan Snyder 20-70k? I'd be interested in this

Yup of course it does, I believe Metro is one of the biggest reasons for higher home values and rental prices. Once Loudon gets that stop, it should be able to go all the way into DC. I know a lot of young adults who can't afford in Fairfax now are going out that way because of the Silver Line and houses are cheaper to buy. They won't have to drive all the way to Vienna or any other metro station to get to DC for work etc

@Mike Hudson 24k on a flip in the area is pretty good, I'd be interested in partnering on flips or buy/holds if there are other opportunties in the area. i started to look on Redfin, prices seem decent even for SF, I still have to check how much rent goes for though

Hey @Mike Hudson,
Do you know kow much are the townhouses there and what is an email price range to buy to be able to make a profit on renting?