All Forum Posts by: Account Closed

I haven't worked with any RE attorneys in DC but the Washingtonian magazine website might be a help. They rank the best lawyers in DC and also rank them by specialty. So there is a RE ranking. That is really all I can think of. Wish I could help more.

Hi Brandon,

Without knowing your exact circumstances I wouldn't be surprised if this is legit. I have a rental property right in the middle of DC and I rent out rooms in the house for 1k a month (all utilities included). The house is directly between two metro stops both being a quick 5 minute walk. This sounds to me like a normal deal in lots of the "up and coming" dc neighborhoods like Columbia Heights (full disclosure this is where my house is), H st, Adams Morgan (although I think we can all agree adams morgan is never going to actually get out of the up and coming phase), etc.

TL;DR I would bet this is legit. Not to belittle your future accomodations but there are plently of rentals in DC at that price point (again, I don't know where exactly you are looking in the city)

Welcome to BP Matt. I am also new to the forums and there is a lot of valuable information on here. I am in a similar position to you. I bought my first house over a year ago in DC and I live in it while renting out 2 rooms. I am in the process of locking down my second rental property in the city. Similarly, I am working with the long-term buy and hold rental property strategy.

I think DC and the surrounding area is still a good investment despite the high prices. I say this because of the appreciation that is possible in the area, especially recently. There is obviously more risk when factoring appreciation into your returns but in the city I still think that it is possible. With that being said, it is extremely to hard to find good investments in the city. The low inventory and rapid appreciation has made it harder, but there are still deals to be found.

If you haven't already I would recommend setting some keyword alerts for "dc" "dmv" and things like that so you can get notifications whenever someone posts about the area.

Thanks for that info @Sam LeonI just went on the DC website and I see they did have permits and stuff approved. I will reach out and see if I can order the plans for a fee from them. Very helpful!

I believe when it is big rehab and not just paint and carpet, DC would require some kind of formal plans in order to get the permits. I haven't done much research into the requirements that was just my assumption. Do municipalities normally not require plans for permits?

Hi guys,

Sorry if I should have posted this question somewhere else. But I am looking at buying a flipped property. The house looks nice inside but I am wondering if it is customary for me, the purchaser, to request the blueprints and reno plans from the flipper? It seems like something that would be very handy for me to have in the future and also to assess the SOW and what was updated and what was not updated. But for those exact same reasons it seems like a flipper might be reluctant to give those plans over. Anyone have any experience with this?

Any insight would be appreciated.

Thanks,

Eric

Thanks @Wade. What kind of tools did you use for research? I have been watching YouTube videos and like I said I have a few books but anything else you would recommend? And thanks for the good tip on getting the right tools. I have been searching Craigslist trying to source some tools for cheap.

Hi guys,

This is my first BP post. I searched the forums first but couldn't find any information. I am sure this has probably come up and my search words just weren't doing the trick, so sorry for another post.

I would really love to gain some more knowledge on home construction and contracting skills. I have tried to get on a few habitat for humanity builds but haven't had any luck. Any other recommendations for learning and getting hands-on experience? I know YouTube has tutorial videos on lots of subjects and I did buy a couple DIY home renovation books. But those two don't give me as much confidence as other learning would. One idea I was thinking of was reaching out to a GC and volunteering my services in exchange for some mentoring. Basically coming to work on a site for free on weekends in exchange for them taking a person with little to no experience as part of their crew. Do you think that would work? Another idea was to hire a contractor for some of the work I would like to do and just have him teach me while he is working and help him out.

Any other thoughts?

Also, sorry to the female BP'ers for using the 'he' pronoun. Just easier that way.

Welcome to BP Andrew,

I am new to these forums as well and I am in a similar position to you. Just starting out my real estate investing career. I have one buy/hold income property in DC right now but looking into getting another one in the near future and maybe do some flipping as well. Send me a private message with your contact information. I would love to add you to my list of potential contractors for when I need different projects done.

-Eric