I am in a financial position to buy several inexpensive condos/townhouses and rent them out- but if the Fed is about to jack up the interest rates, I think the prices will go down. Whether they do it in June or November- I can afford to wait a few years if need be to pull the trigger.

Do you think this holds true for Fairfax County?? Since we are so close to DC and the Federal Government and all.....

Transient government and other workers from other states coming to the area need to live somewhere- which is why I am gathering input.

Impossible to tell. The fed raised it by 25 basis points and the interest rate dipped from high 3 to mid 3 today. Naturally the more expensive to borrow money = less potential suitors, but just do what is financially best for you. If you can take the risk, why not? Like you said, the market in Fairfax is strong and will continue to be strong for a very long time.

I've lived in the same so-called "luxury" condo for 20 years. My value has always steadily yet, slowly increased. It was only hot right before around the housing boom that was created by the real parasites. If you want to buy a few places with either handouts from your parents or the disadvantaged, by all means go ahead. They can pay your mortgage for you & you still own the shithole and can get 100% or more of your money back, once you kick your "parasites" out and sell.

More importantly than the market, the fed, or anything else is you and the homework you do on the specific property and how good of a landlord you are. You could buy a home in Detroit with a higher ROI if you don't do your homework. (I.E, foundation issues, outrageous condo fees, special assessments, shitty tenants, etc).

Prices will not fall much if any, the feds aren't going to raise rates very quickly, a 30 year mortgage rates will remain under 5% for years to come.


If you're waiting for a crash or dip, not going to happen with the RE market around here. Personally I'm waiting for a nice bear market in the stock market, which we are probably already in.

Coming to this forum seeking real estate investment advise is a sign that you have no business buying anything unless it is on the McDonald's Dollar Menu.

Sold my overpriced shitbox in Fairfax Station in 2006. Looking at Zillow, home prices are no where near where they were at that time. Buying that shitbox in 1985 and selling it in 2006, and doing nothing to improve the property, including the septic field, the windows, and the landscaping was the most influential thing I could have done to improve my net worth.
So glad to have pocketed the wealth and left the area.

That's my story, but your mileage may vary.

P.S. Florida is great, btw. No more terrible winters.

Thank you for the input thus far, it is greatly appreciated.

To the above poster- mind your business. It's good to have "street-level" insight as well as professional advice. Fairfax County residents may see something the bankers who depend on my money to make their money do not.

Sorry- replying to the poster "OP is a retarded troll" who probably still lives with his mother and is mad he/she can't afford a studio apartment much less a condo.

Defense contracts are lowering wages in every sector.
Illegals and immigration will set be bar low for salaries people are willing to work for.
The gravy train left long ago.
We're close to total gridlock. Millennialist are discovering "forest bathing" and will exit as soon as they can.

Metro will collapse.

Anyone thinking of coming here will go elsewhere leaving the housing market to sink like the titanic.

Look to North Carolina for properties.

Going down Wrote:
-------------------------------------------------------
> Defense contracts are lowering wages in every
> sector.
> Illegals and immigration will set be bar low for
> salaries people are willing to work for.
> The gravy train left long ago.
> We're close to total gridlock. Millennialist are
> discovering "forest bathing" and will exit as soon
> as they can.
>
> Metro will collapse.
>
> Anyone thinking of coming here will go elsewhere
> leaving the housing market to sink like the
> titanic.
>
> Look to North Carolina for properties.

Petey Greene Wrote:
-------------------------------------------------------
> P.S. Florida is great, btw. No more terrible
> winters.

You couldn't pay me enough to live in Florida.

I get the heebie-jeebies just thinking about it.

speculator Wrote:
-------------------------------------------------------
> Sorry- replying to the poster "OP is a retarded
> troll" who probably still lives with his mother
> and is mad he/she can't afford a studio apartment
> much less a condo.


Someone smoked you, and now you are butt hurt.

The DC area will have ups and downs, but the long term trend for real estate is always upwards here, as liberals continue to pour in while escaping the consequences of their idiotic voting habits.

There are always ups and downs, but let's face it: by the year 2030, Fairfax County will have 300,000 more people living here.

And the land ain't gettin' any bigger. You can always go up, but most people like a little yard. Most normal people, that is.

So, nationwide, I don't know. But Fairfax County will continue to steadily rise over the next several decades, with a few 10-15% hiccoughs here and there.

Best Advice Wrote:
-------------------------------------------------------
> The DC area will have ups and downs, but the long
> term trend for real estate is always upwards here,
> as liberals continue to pour in while escaping the
> consequences of their idiotic voting habits.


We're also on the path to ruin here as well do to the libs.

My two cents...

- There will be fluctuations in the market, but real estate around here has always gone up OVER TIME. Expect to hold for a while to get a good return.
- Buy as close in as you can afford (preferably inside the beltway) - BUT NOT DC (DC is a nightmare for a landlord).
- Townhomes and single family homes historically hold their value better.
- Make sure you can at least break even renting out the property. Anticipate expenses that you didn't expect.
- Pay a property management firm to find tenants (much better applicants - do NOT use Craigslist - way too many flaky people). The caliber of these firms can vary widely; do your due diligence. Each new tenancy will cost one month's rent, but it's worth it.
- Get the property in good shape before you rent. There are all kinds of liability issues, some of which may not be obvious (e.g., I recently had to replace the chimney flue and some venting in an older home since it had cracks which could cause CO2 to go back into the property. $8,000)
- Make the property physically attractive before you put it on the market (paint, clean, replace window coverings, wax floors, etc.)
- Have a professional photographer take pictures of the place for the MLS and other marketing. It only costs a couple hundred dollars and the property will look so much better. I can't understand why so few people do this.
- Make sure the place is secure. I've had several break-ins.
- Try to list between March and September. You'll get a higher price and it will be much easier to find tenants. Winter is dead for the rental market.
- Investigate the hell out of prospective tenants.
- Tenants will try to use the security deposit as the last month's rent. Don't let them.
- Landlording is not for the faint of heart. You have to be a serious hardass or tenants can eat you alive. If you can't do that, consider hiring someone who can.

That's all I can think of at the moment. Hope that helps.

One more thing - don't rent to niggers, no matter what. I mean it. They'll trash a place in no time, will always be late with rent, and are impossible to evict. It's a shame that this stereotype applies to 90% of an entire race, but it does.

Investor Wrote:
-------------------------------------------------------
> One more thing - don't rent to niggers, no matter
> what. I mean it. They'll trash a place in no
> time, will always be late with rent, and are
> impossible to evict. It's a shame that this
> stereotype applies to 90% of an entire race, but
> it does.

This is an impersonator and a worthless troll. I've rented to black people, white people, mixed race couples, gays, multiple nationalities, etc. They're all pretty much the same.

If you're looking to invest in rental real estate, speculating on future appreciation is almost completely irrelevant. Almost all real estate investors are far more concerned with cash flow. With positive cash flow, appreciation (or depreciation) doesn't matter, it's only an added bonus when you sell if the price has risen. It is generally safe to assume property values will rise slowly with inflation -- nothing more, nothing less. Agree with other posters who suggested doing far more homework on what it takes to invest successfully in rental real estate. Make sure you are considering ALL costs, not just the property value (things like repairs, maintenance, vacancies, taxes, etc.). There are several good forums on real estate investment, check those out to start (biggerpockets.com is one good place to start with plenty of terrific guidance).

If it helps, I've yet to find a positive cash flow property in Fairfax County, and I've been at real estate investment on and off for about 15 years or more. I'd look elsewhere, where there are plenty of opportunities.

Investor Wrote:
-------------------------------------------------------
> If you're looking to invest in rental real estate,
> speculating on future appreciation is almost
> completely irrelevant. Almost all real estate
> investors are far more concerned with cash flow.
> With positive cash flow, appreciation (or
> depreciation) doesn't matter, it's only an added
> bonus when you sell if the price has risen. It is
> generally safe to assume property values will rise
> slowly with inflation -- nothing more, nothing
> less. Agree with other posters who suggested doing
> far more homework on what it takes to invest
> successfully in rental real estate. Make sure you
> are considering ALL costs, not just the property
> value (things like repairs, maintenance,
> vacancies, taxes, etc.). There are several good
> forums on real estate investment, check those out
> to start (biggerpockets.com is one good place to
> start with plenty of terrific guidance).

It's the total return that really matters.

>
> If it helps, I've yet to find a positive cash flow
> property in Fairfax County, and I've been at real
> estate investment on and off for about 15 years or
> more. I'd look elsewhere, where there are plenty
> of opportunities.

Cash flow positive based on what? 20% down? If you can't find one, you're doing it wrong and have no business investing in real estate. Stick your money into a REIT.

NoVA will be fine Wrote:

>
> Cash flow positive based on what? 20% down? If you
> can't find one, you're doing it wrong and have no
> business investing in real estate. Stick your
> money into a REIT.


Cash flow, at the most fundamental level, is Rents minus Expenses. It is the amount of money flowing to you typically each month, after all expenses have been paid. It has nothing to do with what percentage your down payment is, other than as one expense that must be considered (along with the the opportunity cost of that initial down payment). I don't know if you're telling me or the OP they should stick to a REIT.

Oh yeah...one more thing.

The number of rental units as a whole is increasing in Fairfax. Private land Lords usually charge 5-10% less than what the big boys charge, so that should also be taken into account.

This county is one strange ass place when it comes to real estate. Rental demands are high, but due to limited supplies rent prices are consistently going up. A 2/2 unit at the Reserve is around $2000. Buying a similar unit with virtually no money down will work out to around the same amount if not cheaper even when you include tax, insurance, and HOA.

Breaking News- Body Found In Centreville Pond

Breaking News- Body Found In Centreville Pond

Petey Greene Wrote:
-------------------------------------------------------
> P.S. Florida is great, btw. No more terrible winters.

The alligators, Burmese pythons, Gambian rats, and "water bugs" are all thankful for that as well. Translation: You live in one of the hemisphere's great hell holes.

Evacuation Route Wrote:
-------------------------------------------------------
> Petey Greene Wrote:
> --------------------------------------------------
> -----
> > P.S. Florida is great, btw. No more terrible
> winters.
>
> The alligators, Burmese pythons, Gambian rats, and
> "water bugs" are all thankful for that as well.
> Translation: You live in one of the hemisphere's
> great hell holes.


Wait, I though you lived in New York City?

Florida, hot weather, rednecks, insanely high property taxes, insanely high auto and home insurance, insanely high flood insurance if you live near the water (who the fuck moves to FL and doesnt), shit dinning options, shit grocery stores, and on and on

Investor Wrote:
-------------------------------------------------------
> NoVA will be fine Wrote:
>
> >
> > Cash flow positive based on what? 20% down? If
> you
> > can't find one, you're doing it wrong and have
> no
> > business investing in real estate. Stick your
> > money into a REIT.
>
>
> Cash flow, at the most fundamental level, is Rents
> minus Expenses. It is the amount of money flowing
> to you typically each month, after all expenses
> have been paid. It has nothing to do with what
> percentage your down payment is, other than as one
> expense that must be considered (along with the
> the opportunity cost of that initial down
> payment). I don't know if you're telling me or the
> OP they should stick to a REIT.


The amount you put down does affect your cash flow, if you put 0% down and your mortgage and expenses are $2,500 a month, and you receive $2000 in rent, you're down $500. If you put 50% down and your mortgage and expenses are $1,500, you have a positive cash flow of $500.

Personally, I go off percentages, I don't touch any properties with under a 7% net annual rental yield, usually about 10% gross yield. Any appreciation is extra and not factored in.

florida lol>
> Florida, hot weather, rednecks, insanely high
> property taxes, insanely high auto and home
> insurance, insanely high flood insurance if you
> live near the water (who the fuck moves to FL and
> doesnt), shit dinning options, shit grocery
> stores, and on and on
>

Hot weather - say that in February
Insanely high property taxes - bullshit, 30th highest and no income tax
Insanely auto insurance - bullshit, not even in the top 5. Michigan has the highest.
True, it does have highest home insurance premiums.
Shit 'dinning' options - guess you don't like seafood or have been to Miami or Tampa
Shit grocery stores - only Wegmans could be considered better than Publix.
And on and on ... talking out your ass.

You don't know shit Wrote:
-------------------------------------------------------
> florida lol>
> > Florida, hot weather, rednecks, insanely high
> > property taxes, insanely high auto and home
> > insurance, insanely high flood insurance if you
> > live near the water (who the fuck moves to FL
> and
> > doesnt), shit dinning options, shit grocery
> > stores, and on and on
> >
>
> Hot weather - say that in February
> Insanely high property taxes - bullshit, 30th
> highest and no income tax
> Insanely auto insurance - bullshit, not even in
> the top 5. Michigan has the highest.
> True, it does have highest home insurance
> premiums.
> Shit 'dinning' options - guess you don't like
> seafood or have been to Miami or Tampa
> Shit grocery stores - only Wegmans could be
> considered better than Publix.
> And on and on ... talking out your ass.

My parents decided to retire in that shit hole, I know Florida all too well.

Safeway, Hmart, insert name here International grocery store, Harris Teeter, Wegmans and even Giant are better options than anything Florida has.


Auto insurance - it's a no fault state and full of meth head rednecks looking for their next fix, you're going to pay more than living in Fairfax. No state inspection, just take a drive down A1A full of cars falling apart, you have to dodge nuts and bolts not to get your car dinged up.

Dinning - St Augastine, St James, Orlando, Miami, West Palm, all shit when it comes to dinning compared to D.C or NYC

Property Taxes - paying $15,000 a year on a home worth $700,000 is pretty fucking high


Florida, a nice place to visit, not to live. Love diving in the springs all over Florida, the fishing and beaches are great too.

Fairfax is home to some of the stupidest people in the country. You should have no problem investing in real estate here.