All Forum Posts by: Jose Sison

Hi @Ryan VanPatten 

Outside of using Craigslist, I'd take a swing at putting a classified at Restaurant Depot.  It's basically a CostCo for restaurant owners.

There's one in Alexandria.

Good job @Account Closed 

I just passed mine in Q4 2014.  The state exam was alot of scenarios, so be sure you understand the concepts.  I'm sure you'll be fine!  Best of luck!

@Matthew K. 

Honestly, I'm so new and still waiting to do my first deal that I'm not exactly sure where my interests really lie.  In the past I've reached out to pre-foreclosures and have had little luck.  I started pulling data at the probate courts for leads and never got around to mailing them.

Like many people on this site, my ultimate goal is to have multiple rental units, but I think at this point in my life, I would really like an injection of cash... so wholesale deals are probably what I'm aiming for.

I currently have a part time job with a real estate company and I'm noticing alot of brand new homes in Vienna and Arlington.  Many of which were acquired around $500-$600k and being sold 6-8 months later at $1-1.5M, so there's definitely opportunities to wholesale or even fix'n'flip there.

Welcome @Matthew K. .

Annandale here.  Been on a hiatus, but looking to get back into things and hopefully get my first deal soon.

Welcome @Gabrielle E. 

Commuting to DC is not going to be fun any way you look at it.  Metro in and listen to the BP podcast ;)

Kidding aside, I have friends that rent in townhouses in Arlington, where they essentially rent by room, or floor.  The kitchen, living room and other parts are communal spaces.  Not saying this is the only way to accomplish your goal, but you may want to hold it as an option in case the opportunity presents itself and the numbers work for you.

Best of luck!

@Karen Margrave , thanks for the links.  It's got good information for the individual looking to get into real estate development, as well as some insight on what developers have to work with.

I wish I had the confidence to take on this project myself.  Are there standard figures (or rules) I can use for estimates on design, soil tests, etc., or will I need to just call all the local businesses for estimates?

What are the most important factors for a real estate developer to consider when purchasing a property?

I have a family member that has a property on about an acre of land.  While it is on a larger lot than most around it, primarily a quarter to a third of an acre, there are quite a few other properties nearby that sit on an acre of land.

Buying the property straight up and selling it doesn't appear to have any returns, however, splitting the lot into two and tearing down the existing house and rebuilding two new houses could be quite profitable.

I have no experience in rehabbing.  I'm actually still looking to get my first deal.

Do you have any advice, or direction for wholesaling this property to a developer?

That's so intuitive.

Thanks @Rick H. for sharing your insight and thought process.  This is valuable stuff!

From what I've gathered, a common issue with probate information is that it doesn't make it online quickly enough, or that the information available online is limited.  I don't particularly go after foreclosures, but I do market to preforeclosures.

Good to know that the library is also a possible source for this information.  I may pop into one to see what kind of information is available.