All Forum Posts by: JC Coskun

Hi all,

This is a zoning question that I'm hoping maybe one person in this entire forum knows the answer or could at least point me in the right direction. I have purchased a townhouse in an RF1 zoned area and neighbor wants to sell me his property and he contacted me. 

1- What would be the advantage of buying the adjacent next door property? 

2- Can I build a condo building potentially? 

3- Feel free to tag someone who is well versed in DC zoning here whether this person is an agent or a lawyer. 

Some info: 

- Combined lots would form about 5000 sq feet. 

- Currently zoning allows for 2 units

Thank you all in advance! 

Hi all!

I am a builder in DC and VA. I have two projects coming up and wanted to see if we have any drafter/designer/architect in our community who is looking for projects. One is time sensitive so feel free to DM or comment here directly. If you know anyone, feel free to tag them.

PS: anyone looking to get in, if you have any questions, I am happy to help. Thank you!

I'll represent them on buying as well as selling multiple units so there's definitely that as the upside. Purchase price is 600K, I'd finance 400K for 1 year with a possible extension. I could do 11% and no points, is that reasonable? To follow up, what are the HML rates for this type of loans?
  

Hi Zeliang, this is one that I am aware of that will take place this Wednesday. If you are going, feel free to let me know. I may go.

https://www.meetup.com/bpg-residential-investor-meet-up/even...

With many experienced lenders, loan officers here, I have a question. I was approached by a client of mine to fund their investment of 400K. They offered to pay 10% interest on this loan. Is this a good deal for a private lender type of transaction? Disclosure: I am their real estate agent as well and the deal is good. 

Maher, thanks for the information providing some insight on your RE journey. To share and connect, I am doing some projects in Virginia. I am happy to connect; my value adds are mostly for distressed investing, flipping properties, real estate agent work on the aforementioned and building custom homes from ground up. If you are looking to continue in the Virginia area, feel free to send a connection and DM. All the best. 

@V.G Jason 40% of the agents in the whole industry is active, only 20% of the agents closed deals in the last 3 months. 0.005% is an accurate figure for builder agents

I build and the construction estimates you've mentioned look too conservative. Also, most people underestimate how much basement renovations could cost. I would get at least 2-3 quotes on projects before you commit to it. Collin, I don't want to discourage you and I am just looking out here, just be mindful that you would be going into it with 5% down payment and underestimating building expenses could be very risky.  

Welcome Nicole! Just trying to understand your investment strategy, why would you like to start with new construction? Are you planning on living/house hack or will this be an investment/rental? I have done flips in MD, feel free to reach out directly if you have any questions. Happy to connect with like minded individuals.