Shristhi and I are working with an investor now. He lives in NoVA, but he's buying, or wants to buy places in DC. We're currently looking at properties UNDER $100,000 (most are around $60,000)...
Where I'm going with this - clearly it's not about what you can buy for cheap. It's about what you can do WITH it.
Shristhi and I look at each property and see what income you'll get from it, what loss you'll take from it, what your expenses are, taxes and where you'll income, or loss will take you.
We'd love to talk to you more if you haven't taken that step towards buying properties.
Feel free to contact us. We'll be waiting and would love to help you with any and all of your real estate needs.
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
Chris Cell: (202) 297-3047
Shris Cell: (301) 655-1521
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Hank-unfortunately not using a Realtor does not help you with a no money down loan. A Realtor has nothing to do with mortgage banking regulations which have eliminated 100% loans except for the few cases that we provided for you in the answers from the Realtors.
If you need a contact to a local lender who can help you understand what you qualify for with no obligation let me know and I'll put you in touch with one in the Lorton/Springfield area.... more
As Cindy says, you have a lot of choices in the Lorton area. A little bit closer to DC is Burke, with a lot of affordable townhouses, and it's a nice area, too. Commuting from Lorton into DC or Alexandria can be a bit of a hassle...though plenty of people do it. Just take a look online to get a general sense of prices, the communities, etc. Then contact some agents in the area. (I'm with a firm with offices in Lorton and Burke, by the way.)
P.S. The posting recommending the Chesapeake Virginia property? No where near Lorton. In fact, no where near Northern Virginia.... more