All Forum Posts by: Connor Bell

@Claudio Meira - You can find decent cash flowing properties in Hagerstown but it has it's tough parts and don't count on appreciation. Make sure that you're comfortable with the cash flow numbers as is for the foreseeable future. And remember there's nothing more expensive than cheap real estate. Need to find value. 

Hello BP community, 

About 5 years ago I houshacked with the acquisition of a duplex now I am looking to do the same but step up to a quadplex. Looking for great mortgage brokers that I can talk to. Please send referrals! Ideally looking for someone in the DC metro area.  

CB

That said, I have heard different answers from different people 

Hello BP/DC RE investors,

Anyone have personal experience registering a duplex in Washington D.C.? The website clearly states the following: 

One Family: This classification applies if you own and rent out single-family homes, town houses, duplexes, individual condominium units or individual rooms. A Basic Business License is required for each rental location. This classification does not include Apartment Houses (with three or more units) or Rooming House (with six or more occupants).

Two Family: This classification applies to you if you own and rent out an English basement apartment or converted basement apartment, you’ll need to apply for a Basic Business License for each rental location and you’ll also need to obtain an inspection and approval from DCRA's Inspections and Compliance Division along with a Certificate of Occupancy. This classification does not include Apartment Houses (with three or more units), Rooming House (with six or more units), single-family homes, individual condominium units or individual rooms.

Thanks everyone! Great advice! 

Hello BP,

I recently purchased a duplex in NW DC. It is my first RE investment and my first time being a home owner. I plan to live in one unit and rent out the other. 

Should I put the property under an LLC? If so, will my loan docs change?

Best,

CB

Hello BP,

I recently found a property for sale near a major interstate, here in D.C., that I believe could be a great rental property. I have not seen the property yet, but am curious to know if people have had issues renting properties located next to a major interstate? I imagine it goes both ways, either people are thrilled by the ease of access or disturbed by the thought of the potential noise. I am sure I will get a better feel for the potential pitfalls when I see the property but curious to hear thoughts from the experienced BP members.

Thanks,

CB

@Daniel Morey & @John Thedford thanks for your comments! 

@Jarrett Harris Thanks! How much do you typically budget for closing costs, appraisal, and inspection cost? 

@Jason MillerThanks! 

@Jason Miller Thanks for your comment! Any chance you are willing to share a list of the items you consider over 20 years? My email address is [email protected] 

@ Frank R. @Charles Worth- I appreciate the comments! Thanks!