The Investment Thread

B4YOU said
Congrats! What area you find a place? Our market is weird. DC and VA inside King St are crazy. But you cross the Anacostia, King St, or into MD and things get better.

There’s $45B in rental assistance being pushed out nationally. DC is offering to pay 12months of back rent and 3 months of future rent for people impacted by Covid. The big landlords will be fine. The rate drops and appreciation in this market made it so small landlords who held for several years could cash out refi and cover a mortgage for a year. I don’t think there’s going to be a glut of SFH housing come up. Apts with 1-2 beds are going to be offering deals to get bodies.

That all sounds about right. I didn't think about the subsidies, so that should help. Made an offer on a townhome on the Fairfax side of the Vienna metro. I've been on the Vienna side for the last 10 years. Renting for so long. Probably close to $250k in rent over 10 years. Would have liked to buy a lot sooner but didn't start working a decent job until 18 months ago.

Prices have always been crazy here. The new upper middle class homes are $1.5m plus. A lot of new homes being built are $1.7m plus. But that's life in Fairfax/Vienna.

Without giving too much away, I didn't make this offer on my own. Wouldn't have happened without an assist.