All Forum Posts by: Phil W.

 hello what is the difference between wholesale properties and buying one out on the open market?

Curious if you pulled the trigger. I"m on of the very few investors in loudoun area 4 houses including my own, and one single family in clarke county VA area. The cash flow wasn't good at first but it's pretty good now but you also get the appreciation. This area is uniqe with the high concentration of government and tech jobs and still growing fast. I just do real estate on the side as separate income but to also build wealth. To really make money you have to be willing to put down 50% and let it age but also have good tenants. I stopped buying properties in 2013 and have been renting ever since and got into equities since to park money. Was really boring to be quite honest the last 10 years but in the last 2 years rents have sky rocketed so it's all perked my interest. Working in an office at a very young age at 19 in the late 90's and earl 2000's experiencing the dotcom bust and then the 2008 financial crisis and mortgage meltdown really scared me away from stock so I parked all my money in real estate at the time.

Chetan Definitely a good area to invest in but only thing I'd say to me is you have to have a very long term outlook. All the real estate books i've read don't really go into renting houses as expensive as they are around this area. Most folks are doing smaller or fixer uppers.   So far from what I've experienced it's been good for the most part but you have to ensure you get good tentants, your pro-active on just quick inspections to ensure you catch something in advance and ensure you do preventative maintenance.   What's happening right now is a once in a lifetime event so I wouldn't get used to these type of price increases just my two cents but you got in at a right time when everyone was still in panic mode.   The great thing about having real estate in your portfolio is it is fairly solid so it allows me to invest in more speculative stocks or crypto.       I'd love to meet up here as well just tough for me finding time with family stuff, I like to hear what other investors are doing.   Investing is fun for me I get more satisfaction out of investing than buying an overpriced luxury vehicle that drops in value every year.

I definitely wouldn't be buying anything right now everything is way too high. I use comps to figure out roughly about how much each property I own in northern is worth. Lets just say I stopped using comps in Dec 2020 even though a TH I own in leesburg va for example is probably worth $550K I'm personally counting it as $500k. I'll re-assess near end of year, I have other properties in the area similar I picked up between 2008-2013. Once the supply shortage starts going away you'll see prices simmer down. I by no means think we'll see a crash at all since it's still fairly strict to quality for a mortgage still these days. I'm definitly glad I didn't sell everything back a couple years ago I was getting a little upset as the values weren't going up as much as I would like. If your going to invest in northern VA the cash flow is decent not great but you'll make it back up in appreciation as this area is booming and will be for the foreseeable future. I stopped buying up property after 2013 and have been doing stocks/mutual funds ever since.

Hello, anyone's thoughts on calls from realtors advising to sell saying we're at the peak of the market? I have existing tenants but am tempted to sell when a lease or two come up in the the next couple months. I have properties in Loudoun and one in clarke county VA I rent, I bought more for growth since I've seen the phenomenal growth in the area with mainly tech/government but also like the rental income although I know for cash flow it's not the best considering the values around here. I remember back in 2004/2005 the craziness and this feels way worse, I loaded up on some nice properties back in 2008-2013 town houses and condo.

Hello not sure if there were any meetups but if we got a small group together I’d be interested meeting up at a coffee shop with other investors.   I’m in leesburg va 

I own 5  houses currently including mine in leesburg Ashburn and one in Clarke county 

I stopped real estate in 2013 and have been doing stock investing and some crypto, since but still manage the properties here i like that the values rise but also cash flow

Curious what other investors are doing as I love growth but I also like the monthly checks coming in , tempting to cash out some stocks and buy another property in Reston or Herndon as things gradually get back to normal 

@Gilda VanderHeyden,  Also not sure your situation but to really build wealth especially if you have real estate as an investment you have to hold.. if your buying and selling remember you'll lose money and time in the whole process.. repairs, fees, etc.. 

I'd hold it keep making money and save up more money for the next investment. 

Don't forget about REITS also, They all got beaten down during the pandemic and I think will be hurting through early next year, good way to supplement physical real estate investments.. pays you dividends also.

If your investing in Northern VA the cash flow is a little disappointing for how much your paying but you get it back in the appreciation.

Thanks Adrienne good to hear from other investors. I currently have qty2 town homes (2 car garage) 3 br, 3-4 bths, qty1 condo 3br 2.5 bath 1 car garage, qty. 1 / 4 br single family out in Berryville, VA (got into this on accident in 2005) and all are rentals. All are cash flowing very well as I own them outright. You don't cash flow as well around here I'm sure as you know unless you got in very early, put a large down payment, or own the property outright. The renters are very good for the most part all have great salaries and other qualifications.

I have a network of painters, hvac, handymen etc that are a fraction of the cost (the worker that quotes me does the work personally.

Wow 13 bids reminds me of 2008/2009 even during the mortgage housing crisis there were that many offers around Loudoun even on short sales but price did drop significantly.  I'm noticing price drops for mainly condos around reston town center and some town houses are dropping and i'm not seeing them go into contract right away.. I personally wouldn't buy another condo as a rental but may be a canary in the coal mine of what may happen next year if condo's dropping.

I've been on sidelines raising capital through other investments since 2013 but watch the market carefully to swoop back in.

Hey all leesburg here also I own properties around loudoun buy and hold investor. I stopped buying anything new in 2013 and have been renting what I have ever since.  Temping to start going back in ... Watching residential carefully around Reston/Herndon as I’m noticing price dips for condo’s and some town houses that just need some TLC.. I think there will be a gradual rush back in next couple years as more people go back to the office. Just my take... I like to get in investments when people are trying to get out..not immediately but hopeful Ling time it right.

I have a full time job so doing real estate as been a side gig for me for cash flow and property appreciation. 

Hi Gilda I’m in loudoun as we’ll own a few properties in the area I wouldn’t sell if your cash flow positive by a decent amount. Of course realtors are going to say now is a good time to sell since there’s not a lot of inventory and they need transactions. 
that’s like going to a car dealer and asking if nows a good time to buy a car  

I’m not a realtor and have a job but I watch the market via Redfin and Zillow gives you a lot of tools to watch comps for property values and rents 

I fell into the market by accident Back in late 2004 ( near peak) but saw how fairly easy finding good qualified tenants was so I accumulated additional properties. I stopped buying houses in loudoun in 2013 and have just been sitting watching investments grow raising rent when it makes sense.