All Forum Posts by: Francis Dayamba

WELCOME TO BP @Rachan M.

I am also looking to buy a 4 Unit Multi-Unit in DC. I have focused most of my attention to zipcodes 20001 and 20002. Specifically in the Trinidad area. Most 4 units in that area go for anywhere between 500k-800k. So if you go the FHA route, you would need 17.5 plus closing costs, which I am also estimating to be about 3.5 %. Next week I plan to go see a Multi-Unit in that area with my agent and the following week I plan to sit down with a Mortgage Loan Officer and see exactly how much money I need for the deal.

If you would be interested in attending either the visit with the real estate agent or the sit down with the mortgage loan officer, let me know.

@Sung Park I am currently looking to house hack in the Trinidad area. I am headed to a Open House tomorrow (1/26) at 6pm. The property address is 1829 H street NE. It is a duplex priced at 340k. According to the MLS, it has 6 bedrooms total. In that area, rents go for 800-1000/minth per bedroom. Mortgage payment I am estimating to be less than $2,000/month.

@LaVenus Jordan The Meetup Group that I attend in Gaithersburg is called Distressed Property Listing Service. Usually a diverse crowd of investors (newbies to seasoned investors) and they meet every month. This month's meeting is actually about personal finance.

https://www.meetup.com/Rockville-Investment-Properties-Meetup/events/236166844/

@Emily Howlett and @Miguel Rubio The Capitol City REIA is really good. They are located in Alexandria and meet once a month.

Since I have been apart of their REIA, I have attended a live Rehab event, attended presentations about Notes and Wholesaling, amongst other things. Great atmosphere and most people are looking to help or learn.

http://capitalcityreia.com/

@Fatimah Wilson I am also looking to house hack for my first deal. I just got my real estate license and I have set up alerts to send me an email anytime in-law suite is mentioned in a listing. As @Russell Brazil said, since I am only looking to put 3.5% down (Means Higher loan and higher monthly Mortgage Payments) the numbers do not tend to work out in our favor. Right now, I am looking at Multi-Families in SE and NE to house hack too. Those are really the only house hacking oppurtunities, that make financial sense, that I have found in the DC Area thus far.

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Welcome to BP! Good luck with the wholesaling business.

Welcome to BP!

All, my coworker has a friend that is dealing with a situation and I wanted to get your opinion.

There are two roommates that live together and one of them paid their rent on time while the other did not. They are both on the same lease. Now the landlord is going to evict both of them. Is there any way that the person that does pay their rent on time can avoid eviction?

Francis

Welcome to BP!