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Old 03-19-2013, 02:29 PM
 
Location: Mclean, Va; West Palm Beach, Fl
513 posts, read 961,183 times
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There are still good deals occasionally found in Germantown/Gaithersburg area. Not so much in NOVA.
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Old 03-19-2013, 11:28 PM
 
1,403 posts, read 2,149,430 times
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With $300K, I'd put some improvements into the house and the landscaping and maybe add a small extension. Oh, wait, I just did that.
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Old 03-20-2013, 02:26 AM
 
181 posts, read 439,321 times
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Allow 40% of rent for expenses, and take P & I out of the other 60%.....the rest is positive cash flow.....I learned this system from some Australians, and I like it better than the standard ratios. The 1% rule is a good start, though. I was just reviewing my ledger on my TH, which I am now living in. 15,000 in revenue in 25 months. I paid 22,000, three years ago. Remember that , when you're interviewing Sec 8 renters in Woodbridge for your brilliant investment.
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Old 03-20-2013, 06:50 PM
 
290 posts, read 547,372 times
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I think there is a hidden sweet spot where you can buy newish single family homes for near $300K. It's the Dale City/Manassas line. Basically along Hoadly Road. In an area with either old housing stock or huge, expensive homes, they fill a big niche in the area for renters. You can rent for $2K/month and at these interest rates, a 30-year on a $300K home is well under $2K. If I had money I would buy some there. You won't make much on appreciation down the road because of the location, but will have solid rental income going forward, small HOA fee, reasonable property taxes.
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