All Forum Posts by: Karthik B.

Hi,

My goal is to acquire and rehab multi-family properties and hold them as long term rentals. As many of you know, DC is a very competitive market and I'm looking to connect with DC Realtors that have experience in hustling and identifying these types of properties. Happy to pay a 3% commission if you can bring me investments that meet this criteria. Feel free to send me a connection request and I'll connect with you and continue this dialog. 

Thanks. 

Karthik

Hi,

I am looking into purchasing a 4-plex in NE Washington, DC. Each unit is a 1BD/1BA and the building is on a 2700 square foot lot. I'm wondering if it would be possible to pop-up, add another level and convert this 4-plex into a 6-plex or even pop-out and expand the building in the back. 

I know new pop-up rules went into effect in 2015 and I'm wondering if any of this would work out in my favor. 

Thanks in advance for your help and advice!

KB

Hi,

I recently purchased a 4-plex in New Orleans and I live out of state. I am wondering if anyone has recommendations for a good property manager with extensive experience with low income housing/section 8 tenants. I have made some rookie mistakes as this is my first time dealing with housing inspections and I want to hire a property manager with significant experience in dealing with these inspections and low income housing tenants. 

Please reply to this and I'll connect with you offline. 

Thanks in advance for your recommendations and help. 

KB

Thank you Braden and Mike! I'm in touch with both. 

On another note, have you worked with a portfolio lender as I have another multi-family that I like and I'm wondering if I can buy them together with 1 loan. 

Thanks in advance for your help!

KB

Hi,

I'm looking for recommendations to local/community banks and credit unions that would provide a mortgage to a 4-family in New Orleans. 

Thanks.
KB

Hi,

I'm looking into a large multi-family in DC, 20+ units. The building and units are not in good condition. Will likely need around 20K-30K to rehab each unit. 

Wondering what HUD loan options might work in this scenario where I can get a large LTV loan along with a construction loan to rehab and rent out the units.

Thanks.
KB

Great discussion!

@Jason:

6 unit, 2 BD/1BA each. All units are rented.

Price is around $550-575K

Monthly rent is $5500

Annual operating expenses are $20K

NOI is $3200/mo. Likely go up as taxes increase and it'll be hard to sustain the current operating expenses as the owners have owned this for decades.

Thanks.

Hi,

Thanks for the comments and advice. Due to the highly competitive nature of the Washington, DC multi-family market, I am not able to disclose too many details. However, I can share the following:

6 units in the property, each is a 2BD/1BA

I am looking for strategies to get exemption from rent control and not for financing options. Each unit is grossly under rented and I'm wondering if there are ways to bring them to market rent. 

Thanks. 
KB

Hi,

I'm analyzing a multi-family property (5+) units but less than 10 units in Washington DC. The property is under rent control and I'm wondering what strategies I should consider in acquiring this property. 

The owner would like to sell as-is with all units currently rented. 

Thanks. 
KB

Hi,

I'm looking to finance an investment property in the Washington, DC Metro area. This is a house, not a condo. I'm currently at a 48% DTI and looking for some options on how I can get a lender. I am willing to put 20-25% down.

Are there portfolio lenders that have a higher DTI threshold? Or are their lenders that have an ARM product without too much of a pricing hit?

Looking for some creative options. 

Thanks.
KB