All Forum Posts by: Peter Siler

Hi Muoki,

Northern VA feels like a daunting task to me as well. I am an investor local to the area, Manassas specifically.

However, I will say that there are deals to be had in Northern VA area, but like you mentioned their is a lot of competition. As a general rule if you try to wholesale like larger companies wholesale, via signs, and paid for marketing only, you will be facing an uphill battle.

So I would suggest, driving for dollars and door knocking.  Thach Nguyen episode on the BP podcast is a great example.  You need to be willing to do what other wholesellers will not. So I would listen/re-listen to this episode.

Thach has a great instagram page too if you are interested. 

Mentorship is always great, but you will need to be of value to the wholeseller in some way in order for the relationship to be mutually beneficial. 

Kind Regards,
Peter


 

@Samuel Choi I would be happy to connect, I just completed a house back in Manassas last year. I am happy to share my experience.

@Karin Meenan I have a lender that I used for the refinance of my house hack in Manassas. PM me for contact info

@Sean Rooks

I’m interested, please PM me.

Investment Info:

Townhouse other investment in Manassas.

Purchase price: $252,500
Cash invested: $5,200

House-hack

What made you interested in investing in this type of deal?

Living rent/mortgage free.

How did you find this deal and how did you negotiate it?

Craigslist and with the help of an agent.

How did you finance this deal?

My own funds for the down-payment (1%) + closing costs. I used a VHDA loan program and 30 fix-rate conventional loan.

How did you add value to the deal?

I did the demo and most of the renovation myself.

What was the outcome?

Cash following property and living rent/mortgage free.

Lessons learned? Challenges?

I want to work on my real-estate business not for it. Long renovation times.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, my agent, lender, and contractors.