4 plex in Washington DC

[Devonte Dinkins]

Good Afternoon Everyone,

I am a young investor (age 20) and I plan on buying a fourplex in the Washington D.C area. I have been seeing prices from 250K- 1M. I am looking to buy and occupy one unit to live rent free, but I will probably only be able to afford a property for 300K or less. Has anyone been able to successfully do this with the high prices in DC. I have been running some numbers using the 50% rule and it seems like I would need to buy a 4 plex for 180k-200K, which seems like a hard price to negotiate to, but maybe not? Can anyone help?

[Ahmed Porter]

The Dc area you may want to see if you can get one that needs alot of work or get a two unit that you can convert to a four by going a floor up I am a GC in the DC area and have done work for 15 years so that may be a good idea or go out to suitland or seapleasent or even the baltimore area. We just did one for a client in the baltimore area were he was able to stay rent free and rented it to medical student . Keep you options open and be flexible. to your area but it can happen