All Forum Posts by: Samuel Choi

@Frances Marquez The advice/people in this thread have been amazing. I've been out making offers in Herndon/Sterling
and falling short (thus far) but am definitely planning on updating this thread when I close on a property and when I've rented out the rooms for final numbers/analysis. Hopefully will have an update soon-ish but we shall see.

@Mike Webber Thanks for the comment! From what I've seen, most of the properties I've reviewed in Sterling did have HOAs, but I think it's different for every neighborhood. I've actually broadened my search to include Manassas as well, so I'll definitely reach out for referrals!

My plan is to update this thread with the numbers once I buy a property and rent out the rooms (for my own accountability).

Thanks @Christopher Miller and @David Fernandez for the info! Glad to hear others have successfully house hacked in the areas I'm looking at!

Hope the approval for ADUs goes through but the restrictions are still pretty limiting. Per zMOD FAQs the owner must always reside on the property, the permits don't transfer in a sale, and it limits the number of renters (if I'm reading it correctly).

@Ika Sargeant Thanks for the comment! Agreed, always on the lookout for walkout basements + separate entrances. What's an example of HOA restrictions that would restrict a property from renting easily (I'm not familiar with any)?

@Jenn Kinchen Yes, finding places with enough parking for house hacking has been difficult. I've been primarily focusing on townhouses with 3-bed,2-full bath (upper level) and 1-bed,1-full bath (basement) but parking for those listings are usually limited to 2 assigned spaces. If you don't mind sharing (no pressure) what are some areas that do have enough parking spaces/areas?

@Sudhanshu Singha I had considered Manassas Park at one point due to the VRE, but I think the vacancy rate for Manassas might be much higher than other areas unless I price them super cheap.

@Andrew Buchwach Congratulations on the purchase! I appreciate the specific examples, it may be anecdotal but helps put ballpark figures on market rent. Agreed, Reston Town Center is just all condos, hard to compete with.

@Russell Brazil Thanks for the feedback! Seems like the general trend is the closer to DC the better "rent-by-room" market.

@Emily HowlettThanks for the thorough response! I used to live in Ballston so Arlington is definitely a great "rent-by-the-room" market but I always get scared off by the high prices and condo fees, but definitely worth a revisit. 

• I believe Fairfax County and Loudon County have a max occupancy of no more than 4 unrelated persons, but are there more specific restrictions that I should be wary of?
• Goals - I would love to cash flow, but since this is my first purchase I'm focused on minimizing my housing costs and being able to save aggressively for my next deal. I would love to learn the BRRRR method or try a live-and-flip in the near future and having little to no housing costs let's me be comfortable taking those risks.
• For my first deal, I want to stick with Northern Virginia out of comfort really, stick with the neighborhood I know. Would definitely be open to MD and DC hopefully in the future.
• I'm not a handy man (not yet at least) so would contract out fixes. Trying to stay away from this on my first purchase but wouldn't be opposed to converting a half bath to full in the basement or adding walls to create a rentable bedroom.

Thanks again for connecting with me and I will definitely reach out if I have any questions!

@Christopher Miller Congratulations man! You are right, I'm finding the metro areas to be priced at a premium for sure. Maybe I'll need to expand my search around town center-type areas around the neighborhoods mentioned in this thread. Let's stay in touch! I'd love to hear more about your basement renovation and how it's going!

Hello everyone! New to the BiggerPockets community and nervous/excited to get started! 

I am looking to buy a single family or townhouse in Northern Virginia to house hack and looking for recommendations/advice. What are the best "rent-by-room" markets in NoVa? I've listed some (that I can afford below) for thoughts/feedback:

1. Reston - Near Silver Line metro and Reston Town Center; Companies setting up shop in Reston
2. Herndon - Upcoming metro (Silver Line); potentially in the "path of progress" once the metro opens
3. Sterling - Nestled between Reston/Herndon areas and Ashburn; another "path of progress" market that's still affordable

In terms of budget, I've received pre-approval for conventional loan with 5% down payment and would be comfortable in the 400k-550k range. Right now, I think my best option would be to look at 3Bed-2.5Bath homes with a finished basement. That way I can rent out the basement as another unit.

If anyone has any advice for a new real estate investor or just want to connect since you're in the DC area, feel free to connect with me!