All Forum Posts by: Meg Khal

Quote from @John McKee:

Welcome to my home town! You won't find any cash flowing properties here unfortunately. There are some flipping opportunities within the outskirts of the DC area. I have friends that have flipped houses in Winchester, VA and several in PG count in Maryland.

True. The only way one can break even or have cash is if you bought it 10 years ago. Or, you have big down payment. I was still keen to hear where the experts suggest to invest as there are none I could find : )

Most homes in Springfield, Alexandria under 500K are older and need maintenance from time to time. 

Quote from @Russell Brazil:

Quote from @Prashamsa Neupane:

Hi All, I moved to Fairfax VA just six months ago. Me and my husband had always been interested in real investment for quite some time and now living in such a vibrant area, we thought this place has such a great investment return potential and also with some cash on hand we had from selling our house in Oklahoma we really wanted to put that cash to work. However, we have been really struggling to find properties that makes economic sense in the Northern Virginia area ( looking in Woodbridge and Manassas area assuming they have some good potential but any property that looks to make decent economic sense will have multiple offers shooting the price way over the asking price). We are even open to flipping or any other method that provides attractive return.
Reaching out to this community seeking advise to see if we are targeting wrong area or are there different areas ( personally I love DC but is super expensive) we should target or a different real estate investment strategy we should consider that works better for this region? 

 Rent growth and appreciation levels, as well as tenant class will be substantially higher closer to the city than the 2 locations you mentioned. However obviously price points will be higher as well.

 Hi Russell,

I like following your posts and appreciate your advice. Which areas would you invest in the Nova area if you have max 500 K. There will be a loan of 400K but looking for long term growth as you mentioned. 

Also thoughts on Potomac Shores, VA ? VRE is expected by next year. Thank you !

Quote from @Brandon Spurlock:

Quote from @Meg Khal:

Quote from @Brandon Spurlock:

Hi @Meg Khal! It depends on your goals. Are you looking to cash flow? Hoping for safe appreciation? You can make money in any zip code, but it will depend on how you answer some of these questions, and obviously your budget. 

The A/B neighborhoods will likely be less lucrative from a cash flow perspective, but a safer bet for long-term appreciation. The entire Richmond Metro area market grew by 7.2% in the last year, some areas higher than others.

I'm a local Richmond realtor and investor. Happy to connect and discuss more if you'd like.

Thanks Brandon. I wish both were possible ha ha : ) For now I will stick to long term appreciation. I won’t be local to the area and will appreciate tenants who are easier to manage and pay on time.

budget is max 400K. 

I love short pump area but that may have reached its peak. So are their neighborhoods which may be upcoming ?

If you're looking to make an investment in a rental property for under $400k, you can set a search pretty far and wide. A 20 mile radius will net you plenty of good clean homes. It really depends which amenities you'd like to stay close to. But you could do well in many pockets of Henrico, Hanover, Chesterfield, and City of Richmond.

 Thank you !

are there particular zip codes in these locations you mentioned you recommend? I have a day job so only interested in Target A or B properties. Preferable Target A. 

Quote from @Brandon Spurlock:

Hi @Meg Khal! It depends on your goals. Are you looking to cash flow? Hoping for safe appreciation? You can make money in any zip code, but it will depend on how you answer some of these questions, and obviously your budget. 

The A/B neighborhoods will likely be less lucrative from a cash flow perspective, but a safer bet for long-term appreciation. The entire Richmond Metro area market grew by 7.2% in the last year, some areas higher than others.

I'm a local Richmond realtor and investor. Happy to connect and discuss more if you'd like.

Thanks Brandon. I wish both were possible ha ha : ) For now I will stick to long term appreciation. I won’t be local to the area and will appreciate tenants who are easier to manage and pay on time.

budget is max 400K. 

I love short pump area but that may have reached its peak. So are their neighborhoods which may be upcoming ?

Hi! Looking for advice on which zip codes to target for rental investment in the Richmond area. I live in Nova / Loudoun county so this will be up-to 2+ hrs drive. Therefore, looking to target only A and B properties. This will be my first investment property so don’t want to burn out.

I looked enough in Nova and none of the investments make sense as townhomes start at 500K and may have ongoing maintenance issues as they are older.

I see multiple new townhomes in Richmond area but unsure which ones are the right ones to consider. Budget 400K. No condos. I will taking an investment loan.

Thank you !

Hi!  Looking for advice on which zip codes to target for rental investment in the Richmond area. I live in Nova / Loudoun county so this will be up-to 2+ hrs drive. Therefore, looking to target only A and B properties. This will be my first investment property so don’t want to burn out. 

I looked enough in Nova and none of the investments make sense as townhomes start at 500K and may have ongoing maintenance issues as they are older.

I see multiple new townhomes in Richmond area but unsure which ones are the right ones to consider. Budget 400K. No condos. I will taking an investment loan. 

Thank you !

Quote from @Austen Mueller:

Congradualtions on deciding to jump into real estate. 

 Do you REALLY want to buy the "cheapest" rental that will cashflow. I think your asking for a bad first exprience. I agree you should start small but too small is a seperate issue.  One bedroom studio is going to be a condo. Condo doesnt nessessarly=cheap. Usually they are located in more expensive downtown areas. In my market of PA, I just helpded a buyer purchase a 2bed/2bath condo unit for $255k. An hour down the road the same buyer could have bought 2 seperate properties they own fee simple. 

Lots of markets you can buy cashflowing property for $100k or under. But again. That isnt alweays the easierst property to own. Even with property managment. Rougher tenant base typiclly and more delayed maintinaceand & vacancy, whitch will deplete your cashflow and increase advil intake. I would target B class property for ease of ownership.  

 Please can you elaborate what are B class property ? New to investing thanks

@Lori N. where did you end up buying? I have a slightly higher budget at 475K but with prices going up significantly since then it won’t help. 

Hi Veteran investors! what are your thoughts on investing in 2 condos for example, 230 K each versus 1 townhome for 500K in Northern VA area.

Pros and Cons please ! Thank you 

Quote from @Chris Seveney:

@Meg Khal

NOVA is an equity play compared to cash flow as it will be difficult to generate cash flow if

Your plan is 20% down.

I would look in Lorton, Springfield, Annandale.

Few pockets in Annandale inside beltway you could get something. I would always take inside beltway over outside beltway.

 Thanks Chris!

I don’t want an older home, looking for year: 2000 and above. My budget will only allow for older homes in the areas suggested. Where else I can look?