All Forum Posts by: Rachan M.

Very nicely done @Jonathan Jones, congratulations! May I ask how much it cost to sell the renovated property? I believe 10% of sale price is said to be average, did it cost about 90k to sell?

Happy Sunday!

We are planning try our hand at a flip in Washington DC. We have identified a house and have worked out our ceiling of how much to pay for it. Would you chime in and answer a few questions?

• We have been watching the trend.. some flips have gone smoothly i.e. remodeled in 3-4 months while others take 1+ year and involve multiple stop order notices. What can we do to maximize our odds for a smooth permitting process?
• How do we find competent contractors, especially ones who have worked in DC before? What questions can we ask them to uncover any red flags?
• We're in touch with an architect who has worked on at least one fast remodel. What questions can we ask them to uncover any red flags?

Thanks so much in advance.

Thank you @Dan Robinson. It'll be almost a complete gut job and remodel.

Happy Sunday to you all!

We are planning to jump in and try our hand at a flip in DC. We have identified a house and have worked out our ceiling of how much to pay for it. Would you chime in for a few questions we have?

• We have been watching the trend.. some flips have gone smoothly i.e. remodeled in 3-4 months while others take 1+ year and involve multiple stop order notices. Do you think corruption in DC govt has a role to play in this?
• How can we go about finding competent contractors, especially ones who have worked in DC before? What questions can we ask them to uncover any red flags?
• We're in touch with an architect who has worked on at least one fast remodel. What questions can we ask them to uncover any red flags?

Thanks so much!

Thank you so much, you all are awesome!!

I called the mortgage holder (service company) and the probate attorney, neither has returned my call so far. Given that legal notice was published only 2 weeks ago and the property is underwater, what should I do to maximize my odds?

Update - I learned today that there's a mortgage on the house that's more than it's assessed value and that it may go into foreclosure. Probably a reverse mortgage, as the house has probably never been sold (DC has no records of any sales). This explains why the heirs aren't coming forward to claim their rights. I might call the mortgage company and ask if they'll take an offer. What do you all think?

Thanks @Mark Pedroza Legal notice was recently published. I assume PR is different than attorney handling the probate process? Maybe I should try to get a copy of the will from court?

More on this developing story - the probate process on this house is just starting. Do you all have experience with this? Is it a long process?

Called OTR (tax office) and was told it’s in preliminary stage before being put up for tax sale. Also got confirmation that there are taxes overdue on it. Perhaps find/approach the owner or heirs with an offer?

Thank you @Greg Dickerson and @Eric Teran!! It is almost certain that the heirs have investors  knocking down their door. But that's ok (and expected), as you said Eric. Can either of you point me to how to do a title search on the property?