Home Buying in Alexandria>Question Details

Randy, Home Buyer in 22304

WHAT SHOULD I CONSIDER WHEN LOOKING FOR AN INVESTMENT PROPERTY AROUND THE DMV AREA? JUST SOMETHING SMALL TO START WITH MAYBE 100,000

Asked by Randy, 22304 Fri Feb 22, 2013

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Chris & Shris’ answer
We are working with a client that lives in NoVA and is looking for Just That! Properties to buy, as investments. He's looking in the DC area (SE & NW), where there are properties to buy for as low as $50,000 & Up.

Clearly, just buying low priced properties is not what it is all about. We also look at what you can rent it for, and provide an investment snapshot of its potential income to you (or loss, depending on what you do to it, or how much you invest in it initially) - it will show you what you'll bring in, what you'll put out, and where your Cap Rate will be.

This is the market in which you should be investing.

We'd be happy to talk with you further about this, and can certainly point you in the right direction.

Call or email us.

Best,

Chris & Shris Dudley
Long & Foster, Realtors
Licensed in DC, MD & VA
Office #: (703) 556-8600
Office Address: 8227 Old Courthouse Road, Tysons Corner, VA 22182
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Chris Cell: (202) 297-3047
Email: chrisdudley@longandfoster.com
Shris Cell: (301) 655-1521
Email: shristhi.dudley@longandfoster.com
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http://www.dudleyrealtor.com
0 votes Thank Flag Link Tue May 7, 2013
Randy,

I'm positive you can find a low $100k investment property in MD, of course the rental & property value will compare and if the area had prices decline sharply it take many, many years to increase in value.
With the market being more of a seller market in that price range of course cash is king if there are multiple offer situation, which is happening more & more lately. Something to take in consideration, if you are thinking about a condo, a lot of them may not be approve for certain types of loan. Also with a condo the monthly maintenance fee must be paid even when the property is vacant.

Maridol
0 votes Thank Flag Link Fri Feb 22, 2013
I think you'll find that smaller properties have just as many headaches (often more) than bigger properties, but the money you'll get from your investment is much lower.
0 votes Thank Flag Link Fri Feb 22, 2013
It could be Maryland , dc too
0 votes Thank Flag Link Fri Feb 22, 2013
Dear Randy,

There is nothing on tha market of NVA for $100k, not even studios (know because have buyer looking in that price range and Fairfax Co haven't had a listing in almost two weeks!). Remember that based on the quality of property & and location it will be the quality of tenant you will get. Two, three bdrm rentals definetely are in more demand.

Feel free to contact me if you have any questoins.

Regards,

Maridol
Long & Foster, Realtors
703-655-0777
maridol @LNF.com
0 votes Thank Flag Link Fri Feb 22, 2013
You might be able to find a 1 bedroom condo for around 100k, but 1 bedrooms are not a great investment. Units with more bedrooms are much easier to rent. You would have to go up to about 150k+ to find a 2 bedroom. If you are not already working with an agent, feel free to contact me to discuss this further.


Erin K. Jones
Realtor
Avery-Hess, Realtors
571-228-8853
ejones@averyhess.com
http://www.erinjones.averyhess.com
0 votes Thank Flag Link Fri Feb 22, 2013
In Northern VA, it's difficult to find properties that are a good investment and that are only $100k.
0 votes Thank Flag Link Fri Feb 22, 2013
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