All Forum Posts by: Kiara Colon

I've got a multi-family in DC (4-unit) and am a realtor. I've found that people want washer and dryer in their units, and not having it will create a high turnover rate, which is what we're all actively avoiding. I don't have the space to put a washroom in the building, so I'd rather add a washer / dryer combo to the unit. 

Does anyone have any reasons why they'd advise against adding a washer / dryer to a unit?

Hello! I'm an investor-friendly realtor licensed in DC and MD. Let me know what your buy criteria is and how I can help!

There are many different options to house hack in MD, and I'm looking at a few options right now for another buyer. Contact me anytime and we can go over those options.

Quote from @Anthony Freeman:

Home inspection fees can be rolled into closing costs?

 Nope, you have to pay for the home inspection before you can access the report. That's an up front cost.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $187,500
Cash invested: $1,500
Sale price: $255,000

Bought in March 2015 with VA Loan. Used as primary residence until 2018, rented out to one tenant for 7 years until sold in March 2022.

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

Bought for military position

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

Rented in the neighborhood for less than a year prior, found on run in community, it was up for rent. Inquired with the listing agent to purchase the property. The rest is history.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Didn't; straight buy & hold.

What was the outcome?

Made $70K when sold in 2022

Lessons learned? Challenges?

Buy more properties in military towns for stable rent.

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

Charlene Avant, Sumter SC

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $264,000
Sale price: $305,000

Buy & Hold property in Riverview, FL as primary residence investment. Purchased with VA Home loan, no money down, no PMI. Sold November 2020.

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

Needed to move from military PCS orders.

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

Found online.

How did you finance this deal?

VA Home loan

How did you add value to the deal?

Nothing added.

What was the outcome?

Sold, made $25k after just over 2 years.

Quote from @Sidney Williams:

Hello! I am new to BiggerPockets and real estate investing. I have been watching YouTube videos, listening to podcasts, and trying to analyze some deals to learn the basics. I am a recent college graduate and working a corporate sales job. It pays well but I want to build a business myself. My long-term goal is to build a portfolio of properties and attain financial freedom so I can coach swimming. 

I would love to connect with anyone in the DVM area. I am primarily interested in the buy-and-hold strategy. It seems like the BRRR method would be the best way to go about it. I want to get started but I am struggling to figure out the next step beyond analyzing (definitely in analysis paralysis).

Hello, Sidney! In general, I recommend getting with a real estat professional to figure out what's going on in the market, especially when dealing with the DMV. Buying programs come on and offline frequently, buildings get re-done and renters requirements are fluid. Getting with someone that's hyper-focused on the real estate market can help narrow down what a good investment can be in DC + surrounding areas. Good luck, and let me know if I can be of service.

Investment Info:

Townhouse buy & hold investment.

Purchase price: $370,000

Bought during the height of the pandemic December 2020. Purchased as a primary home. Has appreciated nearly $100K in less than 3 years, with an estimated monthly rent of $3500.

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

I needed a home, and was unwilling to rent.

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

Via realtor, no negotiation took place as it was a nearly new build.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Painted, built additional bathroom, making it 4 bed, 3.5 bath.

What was the outcome?

New'ish build that improved my quality of life.

Lessons learned? Challenges?

Should've tried to buy more homes.

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

Nope.

New listing alert!!

5336 D St SE, Washington DC 20019

3 Bed, 2 Bath home single-family home in Marshall Heights, DC. he kitchen, adorned with upgraded cabinets, granite countertops, and upcoming stainless-steel appliances, promises culinary delights. Enjoy the luxury of a master bedroom with an ensuite bathroom, complete with two tubs in the bathrooms for ultimate relaxation. Recessed lighting graces the interior, and abundant closet space caters to your storage needs. A separate washer/dryer room adds convenience to your daily routine. The backyard provides a haven of privacy, complete with a detached deck for outdoor relaxation and a shed for additional storage. The security doors at both entrances ensure peace of mind.

If you're interested, don't hesitate to reach out!

Quote from @Coy Pence:

I have decided that to make steps forward into getting my real estate license I have found a mentor who happens to own his own brokerage. 

How can I build a clientele list for people who like all kinds of properties.

I don't wish to be rich necessarily, I just want to be free from the strenuous 9-5 and have more time for my family and the things I enjoy. 

If you are real estate investor and looking to have someone on your side that Is an agent, I'd love to connect and possibly learn what makes good deals, good deals .

Work with everyone (renters, buyers, investors), and you'll find your niche. It's easy to say 'I want to be a listing agent,' but sometimes the best deals are found off of MLS and in the depths of the interwebs.

I happen to be a real estate investor and an agent (DC, MD), but i'd appreciate the connection nonetheless. Good luck!