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Old 12-15-2016, 09:21 AM
 
78 posts, read 81,836 times
Reputation: 44

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I am looking to buy a townhouse investment property , but in an desirable area that will easily attract regular renters . In addition, I want a property that can hold or increase in value.

I have $100k for a down payment, and my max purchase would be up to $500,000.

What are the hottest NOVA areas to buy an investment? I'm considering Fairfax or Loudon Counties such Ashburn, Centreville, Reston, Chantilly, Springfield, Fairfax, Lorton, or etc?

Most importantly, I don't want to price out any tenants or have difficulty finding them, but I also don't want a high mortgage that eats up the monthly rental income.

Any advice is appreciated!
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Old 12-15-2016, 02:21 PM
 
1,304 posts, read 2,426,603 times
Reputation: 1215
Quote:
Originally Posted by Shin Dynamo X View Post
desirable area that will easily attract regular renters . hold or increase in value. max purchase would be up to $500,000. I don't want to price out any tenants or have difficulty finding them, but I also don't want a high mortgage
lol are you serious? This mythical property you are describing does not exist. You are going to have to take some risk somewhere. In NOVA, probably a place walking distance to the metro...but that's going to be out of your budget.

The best thing would be to buy a rehab, do the work yourself, then rent it out, specifically in the up and coming areas of DC. Problem is you can't afford those places and there are there are many people out there with 10x the money you have (all cash too) and they sure aren't giving out tips on internet forums.

Put your money in the stock market if you are looking to invest. Maybe even an REIT if you are looking for real estate exposure.
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Old 12-15-2016, 05:00 PM
 
110 posts, read 123,227 times
Reputation: 130
While this property is not in the areas you listed, with your down payment and rental rates between 1700-1900 a month you would clear $550-750 monthly if you self manage. There are definitely opportunities in the area.

6794 Hampton Bay Ln # 462, Gainesville, VA 20155 | MLS #PW9797969 | Zillow

It would be much better to try to buy two properties in this development with your $100k.
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Old 12-15-2016, 06:00 PM
 
1,159 posts, read 1,289,811 times
Reputation: 1361
There are townhouses within walking distance to Vienna metro that are under $500k. They are 70s or 80s builds. The rental market is competitive with the A+ schools. It won't leave you much margin though.
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Old 12-17-2016, 12:00 PM
 
3,109 posts, read 2,971,505 times
Reputation: 2959
Allow 40% of rent to go towards expenses (some say 50%). Take principal and interest out of the other 60%...what you have left is positive flow. I have netted over 15% before and it is still a pain in the neck and I still hate the last white trash couple's guts. Nice payday when the Taiwanese guy ht it, though. Agreed REITS pay nice div because they can take advantage of depreciation to the max...and they don't call on weekends or paying for late. I own BFS, FPO, AHH, CBL, GNL, NRE and XLRE heck utility spider is yielding 3.4%, which is a lot better than renting a 500k house out for 2400 per month.
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Old 12-17-2016, 01:59 PM
 
795 posts, read 1,009,209 times
Reputation: 1476
Quote:
Originally Posted by Shin Dynamo X View Post
I am looking to buy a townhouse investment property , but in an desirable area that will easily attract regular renters . In addition, I want a property that can hold or increase in value.

I have $100k for a down payment, and my max purchase would be up to $500,000.

What are the hottest NOVA areas to buy an investment? I'm considering Fairfax or Loudon Counties such Ashburn, Centreville, Reston, Chantilly, Springfield, Fairfax, Lorton, or etc?

Most importantly, I don't want to price out any tenants or have difficulty finding them, but I also don't want a high mortgage that eats up the monthly rental income.

Any advice is appreciated!
Find a time machine and go back about 25 to 30 years.
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Old 12-17-2016, 02:09 PM
 
1,517 posts, read 1,666,000 times
Reputation: 2526
Quote:
Originally Posted by Shin Dynamo X View Post
I am looking to buy a townhouse investment property , but in an desirable area that will easily attract regular renters . In addition, I want a property that can hold or increase in value.

I have $100k for a down payment, and my max purchase would be up to $500,000.

What are the hottest NOVA areas to buy an investment? I'm considering Fairfax or Loudon Counties such Ashburn, Centreville, Reston, Chantilly, Springfield, Fairfax, Lorton, or etc?

Most importantly, I don't want to price out any tenants or have difficulty finding them, but I also don't want a high mortgage that eats up the monthly rental income.

Any advice is appreciated!
I'm looking into the same thing. I think Lorton would be a good due to it's proximity to Ft. Belvoir & the Virginia Rail (VRE). I see townhomes in your price range there all the time. You should also look into joining biggerpockets.com so you can network with other investors in the area. I don't think NOVA will offer much appreciation value, but if you're a buy/hold investor there's plenty of opportunity in the area. One drawback with townhomes in your targeted areas is the HOA fees. They are so sky high!!
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Old 12-19-2016, 04:27 AM
 
3,109 posts, read 2,971,505 times
Reputation: 2959
Quote:
Originally Posted by ozzyngcsu View Post
While this property is not in the areas you listed, with your down payment and rental rates between 1700-1900 a month you would clear $550-750 monthly if you self manage. There are definitely opportunities in the area.

6794 Hampton Bay Ln # 462, Gainesville, VA 20155 | MLS #PW9797969 | Zillow

It would be much better to try to buy two properties in this development with your $100k.
300 per month HOA....nope.
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Old 12-19-2016, 05:54 PM
 
110 posts, read 123,227 times
Reputation: 130
Quote:
Originally Posted by Hal Roach View Post
300 per month HOA....nope.
Not sure why that matters. Given his $100k down and all in cost including taxes, insurance, and HOA of $1150 properties like this cash flow way more than anything else in this area would.
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Old 12-22-2016, 08:22 AM
 
9,727 posts, read 9,729,135 times
Reputation: 6407
Quote:
Originally Posted by Shin Dynamo X View Post
I am looking to buy a townhouse investment property , but in an desirable area that will easily attract regular renters . In addition, I want a property that can hold or increase in value.

I have $100k for a down payment, and my max purchase would be up to $500,000.

What are the hottest NOVA areas to buy an investment? I'm considering Fairfax or Loudon Counties such Ashburn, Centreville, Reston, Chantilly, Springfield, Fairfax, Lorton, or etc?

Most importantly, I don't want to price out any tenants or have difficulty finding them, but I also don't want a high mortgage that eats up the monthly rental income.

Any advice is appreciated!
Prince William County.
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