All Forum Posts by: Jonathan Jones

No, Unfortunately only a pepco employee and/or contractor can rectify the issue as the pipe goes through our house and other houses throughout the block. We are trying to get this last issue handled so that we can place the property on the market however Pepco has promised repeatedly but not completed our request. 

Good afternoon all,

My team and I have a property in DC. Pepco has promised multiple times to come through our property to fix an electrical pipe in the basement. We have all of the renovations completed however, this problem is eating up our profit due to holding cost. We have repeatedly reached out to Pepco to get this resolved however they keep promising and not delivering. Any suggestions of how we can resolve this quickly and save our investment so we can place it on the market and recoup our funds?? Any suggestions would be very helpful. Grateful for all of you! 

@B Ryans absolutely. Ill send you a message and we can set something up!

Very true @Mark Cruse. We were able to get that property June of 2019 which even then was well below market. Still looking for deals close to as good as this one for my buyers 

@B Ryans Hey! Thanks so much. Will absolutely utilize Carolyn P. Burns when completing closings. Thanks again!

Thanks! @Stanley A. @Cassidy Burns

Hey Matt Madvene! Thanks I appreciate your help.

Hey All!! 

I am looking for a title company that handles wholesaling transactions in Washington DC area. Specifically that handles assignments and a double close or an A-B-C Closing. I am going to call a bunch of title companies via the phone book/research however I figured I would connect with my BP team to see who they use and like!

Looking forward to hearing from you all :-)

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $330,000
Cash invested: $175,000
Sale price: $899,000

We purchased this property in the Petworth area of Washington, DC. This particular area of Washington DC is becoming more and more saturated with real estate investors. Fortunately the contractor had some connections with property owners in and around that area enabling us to secure a property quickly after forming an LLC/partnership agreement

What made you interested in investing in this type of deal?

I have always been interested in real estate and learning how to rehab properties. Just an overall fascinating experience.

How did you find this deal and how did you negotiate it?

We found the deal through networking and speaking to neighbors. Negotiated with the tenant and the out-of-state investor.

How did you finance this deal?

We used an HML

How did you add value to the deal?

We completely flipped the property. High end fixtures and appliances. Additionally, in our market rentals are popular. We found a way to make the basement into a rental space while still offering awesome value to the buyer.

What was the outcome?

We were able to sell the properly quickly (7 days) in a some what stagnant market.

Lessons learned? Challenges?

Partnerships are difficult. People have very different views of what it looks like to own a business and build a company. Being on the same page is critical to understanding how to proceed forward. As long as people are on the same page and understand each other, it should be a seamless partnership. Contracts are crucial in understanding what is agreed upon.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Not at this time