All Forum Posts by: Damien Hall

Welcome to BP Sovat Chheang

Chris K. You can possibly pull equity out. If you can then I would keep the property, pull some equity out and use it to purchase another one. If you want to upgrade i.e. purchase a multi unit, then I'd probably sell.

I agree with Charlie Fitzgerald. It depends on your goals. It sounds like your primary concern is to get a house. I would see what the loan officer comes back with about the equity you currently have. If you can get equity out and continue to cash flow I would hold it. But if the numbers don't work then I would sell.

Thx for the link @Patrick Reilley

Thanks @Russell Brazil & @teresa 

@Teresa F.

I have a tenant in DC that I'm about to evict. This is my first experience with this so I'm still understanding fully DCs tenant friendly laws. I've given the tenant the appropriate notices. But if they fail to comply, can I change the locks or can I only evict with a court order?

Can any of you share your eviction experiences in DC? Thank you.

Thanks for posting @M Marie M.

Does anyone attend a real estate investment club/association in DC? I used to attend DCREIA but I can't tell if it still meets. Thank you!

I've only used one HML, and their policy was that the property could not be owner-occupied.

OK...this is good. I can see it that way too. I didn't think of it from that perspective.

But Option 1 still only adds 72K to your base. If you use that theory with Option 2 you add 300K to your base. In 5 yrs you would still make 300K for that year, but you would have 1.5M in the bank. After 10yrs, 3M in the bank... 20 yrs 6M. With Option 1 you only have 1.44M in the bank after 20yrs.

No debt because you pay off financing on the flip, no properties to maintain. Just cash. lol!!