Property values make it difficult to invest unless you have mucho capital in this area, any ideas on how I could tap into this market without going broke? I currently have one investment property (this one fell into my lap). I’m still optimistic and I won’t give up, but it’s been a year since my first deal (I’ve been hooked ever since). I’ve looked into creative financing and a variety of other ways to entice prospective sellers, to no avail. Any ideas would be greatly appreciated.
Driley
Im also in your area, Silver Spring, and went through the same thing. I have gotten my second deal almost a year later to the date. I find that your best bet in our market if you dont have your own capital and no partners is to find a good hard money lender that will lend simply on the ARV of the house. The rates are any where from 12-21%. It’s gonna cost you alot so just budget for it in your offer. The other thing is try doing a subject to deal. You can find MANY investors in our area to flip to.
Thanks. Do you know of any investors to flip to in NOVA?
Driley
email me directly so that we can chat in more detail about our area.