Speculators push to buy in Northern Virginia as investment products

[finalmove]

Originally Posted by sonnymarkjiz

The problem is greed. Some landlords are hiking up rent prices drastically and places are sitting empty because no one will pay it. I recently left a condo in Arlington that hasn't been updated since the late 1990's, they're raising the rent up by $400 dollars from what I paid while searching for their next tenant because of Amazon, but won't bother to update the actual condo and it's falling apart and they're scratching their heads as to why they haven't found a new tenant yet. Some people want $$$$ because "Amazon" without bothering to do basic updates to their rentals, and wonder why it's sitting vacant.
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Thing is, the DMV is already an expensive area...I think Loudoun and Fairfax are the two richest counties in the nation. DC already has several tech, finance, and government jobs that are abundant in this area. But I feel like this Amazon thing is fools gold for realtors and investors.

I too think the Amazon thing is over-hyped. But in this area there is so much going on. Just the Metro extension past Dulles cost more than most State budgets!
The ancillary activity from this project will germinate thousands of new buildings and tens of thousands of good jobs both temporary AND permanent.

The drive from Tysons to Leesburg on the toll road would boggle the mind of someone from America's fly-over States.

It's a tough place to arrive and survive, but if one can pull it off and thrive, (is that a limerick?) a home will do better than most regions with appreciation.

[Old Guard]

Originally Posted by Hal Roach

Blackstone is buying up trailer parks in Phoenix. The number of people, who will always be renters is big and growing. Why wouldn't they invest. Being a landlord is so complicated nowadays, it takes a corporation to do it. Same with the restaurants.. impossible to be a small operator.

https://www.youtube.com/watch?v=jCC8fPQOaxU

[Hal Roach]

Originally Posted by Old Guard

https://www.youtube.com/watch?v=jCC8fPQOaxU

likely a waiting list at the one in Chantilly. Blackstone has returned 50% YTD, they must know something.

[TheGreatest1]

Originally Posted by sonnymarkjiz

The problem is greed. Some landlords are hiking up rent prices drastically and places are sitting empty because no one will pay it. I recently left a condo in Arlington that hasn't been updated since the late 1990's, they're raising the rent up by $400 dollars from what I paid while searching for their next tenant because of Amazon, but won't bother to update the actual condo and it's falling apart and they're scratching their heads as to why they haven't found a new tenant yet. Some people want $$$$ because "Amazon" without bothering to do basic updates to their rentals, and wonder why it's sitting vacant.
.
Thing is, the DMV is already an expensive area...I think Loudoun and Fairfax are the two richest counties in the nation. DC already has several tech, finance, and government jobs that are abundant in this area. But I feel like this Amazon thing is fools gold for realtors and investors.

My wife and I are landlords of two
Properties in NOVA and we have discussed the potential for increasing rent. Yes we could increase both properties’ rent by $100 a month and our renters might stay, but we feel it’s greedy. They have not caused us any issues and our fees and taxes haven’t increased much in the two years both tenants have lived there. When they decide to move out, we’ll fix the places up a bit and then see what we can get on the market. I just never agreed with raising renters monthly rent for no reason other than profit at their expense.