Newbie in Washington DC

[Joshua Smith]

Hi guys - I have a big goal: To purchase and renovate a four unit property in the Trinidad or Kingman Park neighborhoods of DC with a FHA 203K loan, rent out three units for a year while I live in one, and then convert to condos and sell or refinance to move on to the next project.

All signs are there that these neighborhoods are only going up; and the inventory is in poor shape, ready to be renovated. Deals can be found in spite of the aggressive pricing.

I've been talking with as many investors, property managers and agents in DC. I've also been going door to door and talking with as many neighbors as I can in these neighborhoods to learn about them and to identify any off market properties. So far I have a few great leads. 

Any way I look at the numbers, converting to condos makes a ton of sense. At this point I'm looking for anyone just to talk to more about this goal, to give me some pointers, just to strategize. Anyway - that's my goal and I'm sticking to it!