All Forum Posts by: David Rivera

I am a bit confused as well, can you help me with the math here? I see it in a different way.

The winning bid of $138 would extinguish $20k of the lien, plus $118k of the first trust, right? So the unit would ordinarily be subject to $114K of the first trust, except that the $114K is totally extinguished under the line of cases that you cite. So, doesn't the winning bidder own the property free and clear, having bought it for $140-187K under market?

The Washington Post recently published an article, where Airbnb suggests Airbnb visitors tend to spend more money and at local businesses than hotel visitors.

http://www.washingtonpost.com/blogs/wonkblog/wp/2014/03/25/why-airbnb-wants-you-to-know-how-much-its-users-are-spending/

I believe you can search by property owner (or maybe Grantor/Grantee) if you register here:

I agree with Rob that Ivy City is currently physically isolated. Plus, it has a huge nightclub there, and the neighborhood isn't currently inviting. But I think you are right that it will change, and change in a big way. I hear they are putting a bike trail that would connect it to the Florida Market and the NoMa Metro. Also, Douglas Development is redoing the Hecht Warehouse, that will be a huge retail center, including an organic grocery store. Ivy City has great access out of town to Baltimore, Philly, NYC, etc. so I think there is some upside there.

I own a condo in Chinatown, constructed in the past 10 years. 30 units, solid construction, near the Verizon Center, Convention Center, and multiple metro lines. We had 2 foreclosures in 2007, and the value of our condos still haven't recovered, relative to the condos just within a one-block radius.

In my experience, when owners are delinquent and the cash flow to a condo dries up, there is a slow death cycle. Amenities and maintenance go down, which scares off desirable tenants/buyers. Condo fees go up, as you have to make up for the bad debt, which in turn may put more financial pressure on other owners' budgets and in turn increase the delinquency rate.

So, I am still waiting for a tremendous recovery, and I think our condo is actually in great operational shape, but these foreclosures still are hurting us. I am inclined to never buy another condo unless it is a compelling deal. A condo where 45% of your business partners aren't current is a non-starter.

Thanks Jesse! Yes, I am used to the traditional situation of having an executed lease agreement. A bit anxious in trying to go for a hopefully more lucrative, but more transient, model of renting.

Yes, I own it.

I'm also in the DC market, looking to gain general knowledge as well as specific market knowledge of the H Street neighborhood, where I also reside. Looking forward to meeting and exchanging ideas with you all.

I'm also in the DC market, looking to gain general knowledge as well as specific market knowledge of the H Street neighborhood, where I also reside. Looking forward to meeting and exchanging ideas with you all.

Trinidad has seen some really great growth this year, so the Queen or Holbrook are tempting. But I would go with the rowhouse myself.

Hi, I wonder how holding an airbnb/short-term corporate housing property will impact my ability to secure conventional loans for future investment properties.

I am about to list my apartment on airbnb, which basically provides short-term housing similar to a hotel. There will be no leases involved, just confirmations from the website I believe. I understand that airbnb will also issue a tax form at the end of the year to me, based on the reservations booked on the website. I do not know how often the property will be vacant, but the property is in a popular neighborhood in Washington DC near metros and Amtrak.

I intend to buy more investment properties soon, and I wonder how a bank will regard this airbnb asset that I will hold? What sort of documentation can I generate to help tell its story, or am I only going to have to rely on the yearly tax statements from airbnb? Or will this move make me seek other funding sources?