Rehabbing & Flipping in the DMV...

[Qwesi McCray]

Just found out we will be moving to the Washington DC, Arlington, Virginia and Baltimore, Maryland area in the next few weeks. 

Can I kindly ask the DMV area investors to share some insight on the best areas to flip SFR/Multi properties (price points too if possible)? Also, from what I understand VA, DC and MD require me to have a contractor's license to fix and flip? Is this right? What if I'm investing through an LLC?

Any help would be greatly appreciated. Thanks

Q

[Robert Williams]

There are great neighborhoods to flip throughout the entire DMV.  The challenge is finding properties to flip because the competition for deals is very intense.  My approach over the years has been to become very familiar with the DC neighborhoods where I work and live and to only flip properties in those areas.  I know my targeted neighborhoods and streets so well that I can instantly recognize a good deal and move on it.   

DC neighborhoods where I look for flips are Trinidad, Carver/Langston, H Street Corridor, U Street Corridor, Shaw, Adams Morgan, Dupont Circle, Petworth, Park View, Brightwood, Mount Pleasant, 16th Street Heights, and Brookland.  Each neighborhood has different price points so there's no one magic number I can give you.  

You don't need to have a contractor's license to do flips, unless you'll be doing all of the work yourself.  I generally hire a GC for my projects.