Best place to buy a rental property investment

[Anonymous]

I’m looking to buy a condo or townhouse near Fairfax Inova hospital hoping to find a regular stream of reliable resident doctors or nurses as tenants.

Recommendations on best areas to buy an investment property?

[Anonymous]

I’d say the Mosaic district. Close to Fairfax Hospital, but near all the amenities. I would guess it will be pricey though.

[Anonymous]

Near George Mason- huge uni, too little housing

[Anonymous]

That’s the $$million dollar question now, isn’t it?!

Let me promise you that it’s not easy to find a property that cash flows after purchase cost and expenses.

[Anonymous]

Such a terrible idea on so many levels. Price to rent ratio is at or near all-time highs, interest rates are still high (meaning you could park your money in a money market fund and get 5%), and condos/townhomes in the suburbs often appreciate terribly.

[Anonymous]

Please give me the numbers - down payment, HOA, taxes, price, interest rate and what you would charge.
I'll do the math for you rent vs buy.
There's a 2-bedroom in my building I would like to buy or rent. I did the math. After renting for 30 years, I could buy the rental out cash and the unit next door.
This is not a special case. People just don't do the math.

[Anonymous]

Anonymous wrote:Please give me the numbers - down payment, HOA, taxes, price, interest rate and what you would charge.
I'll do the math for you rent vs buy.
There's a 2-bedroom in my building I would like to buy or rent. I did the math. After renting for 30 years, I could buy the rental out cash and the unit next door.
This is not a special case. People just don't do the math.

Please, someone translate.

[Anonymous]

Anonymous wrote:Please give me the numbers - down payment, HOA, taxes, price, interest rate and what you would charge.
I'll do the math for you rent vs buy.
There's a 2-bedroom in my building I would like to buy or rent. I did the math. After renting for 30 years, I could buy the rental out cash and the unit next door.
This is not a special case. People just don't do the math.

What does that mean?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Please give me the numbers - down payment, HOA, taxes, price, interest rate and what you would charge.
I'll do the math for you rent vs buy.
There's a 2-bedroom in my building I would like to buy or rent. I did the math. After renting for 30 years, I could buy the rental out cash and the unit next door.
This is not a special case. People just don't do the math.

Please, someone translate.

PP is saying that, by renting for 30 years, he'd save so much money versus owning the same condo, that with all the money saved, he'd be able to afford to outright buy not just the unit he was renting but also the next door unit.

It's a clunky way of saying that buying a condo right now to rent it out does not make financial sense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Please give me the numbers - down payment, HOA, taxes, price, interest rate and what you would charge.
I'll do the math for you rent vs buy.
There's a 2-bedroom in my building I would like to buy or rent. I did the math. After renting for 30 years, I could buy the rental out cash and the unit next door.
This is not a special case. People just don't do the math.

Please, someone translate.

PP is saying that, by renting for 30 years, he'd save so much money versus owning the same condo, that with all the money saved, he'd be able to afford to outright buy not just the unit he was renting but also the next door unit.

It's a clunky way of saying that buying a condo right now to rent it out does not make financial sense.

Thanks

[Anonymous]

A property purchased now will not cash flow in the northern Virginia area with 20pct down. You may get appreciation over the long run - or you may not. A condo in particular, don’t buy for investment.

Even when we had 3 percent interest rates it didn’t cash flow.

[Anonymous]

AirBNB owner - you really can't pay much more than 300K to be profitable.

[Anonymous]

Anonymous wrote:I’m looking to buy a condo or townhouse near Fairfax Inova hospital hoping to find a regular stream of reliable resident doctors or nurses as tenants.

Recommendations on best areas to buy an investment property?

Do not buy a condo. The HOA fees will outpace inflation and grow to absurdly high levels as the building ages. Condo also tend to lose value after adjusting for inflation. They are not good investments.