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All Forum Posts by: Dan Robinson

Dan Robinson has started 16 posts and replied 67 times.

Post: Help us make our first flip successful!!

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

If you are going up a level or putting in an addition, I'd plan on 12-18 months. Permits will likely take you 3mo unless you do the velocity program. If you are staying in the footprint of the existing structure you can do it much quicker.

Post: Help us make our first flip successful!!

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

I'm not sure what the scope of your project is, but it can easily take 3-4 months just to get permits in DC depending on the level of construction. And it's not corruption, it's just a lot of incompetence, red tape and and dozen different departments, utilities and inspectors you will need to schedule and coordinate.

I've mostly used Craiglsist and Military By Owner. I'm guessing it's just your timing. Winter is terrible for finding new tenants in my experience.

Post: Need umbrella insurance for 4-plex?

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

Yes, for when one of your tenants slips and falls and sues you

What do you mean by "used"?

Post: Bright MLS New Off Market Property

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

S.O.P. for monopolies. Bad for everyone.

Post: Measuring house dimensions -- DC

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

Are you just looking for a floorplan or something more detailed?

Post: Buy Occupied Apartment Buildgin

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

I've got a contract on a small apartment building in DC that is partially occupied. I'd like to eventually facelift the units and raise the rents. I'm aware of the TOPA requirements, and I have clauses in the contract that the seller must provide copies of leases and security deposits. It will fall under the rent control requirements for DC. Any advice for other actions to take to ensure a smooth handover and/or tips on how to encourage current residents to move along so that I can remodel and raise rents besides buying them out?

Post: Converting Current Home as First Rental

Dan RobinsonPosted
  • Investor
  • Alexandria, VA
  • Posts 72
  • Votes 26

I'll chime in here... I've done exactly what you are doing. If you are looking to build a large portfolio of properties and live off the cashflow, this is not the way to do it. If you're looking to build long term equity without a ton of headache, this has worked for me. Our rentals are ones that either I or my wife lived in before we were married. They are in nice areas. They do not, or at least did not, cash flow, nor have they appreciated significantly (some, but not a ton). On the other hand, I get good tenants, maintenance is low & one of the houses is now paid off completely. 

Bottom line, no cash flow to speak of, not a lot of appreciation, but someone bought me a house. Still a good deal if you ask me.