All Forum Posts by: Leo Watts

Hi all. Great discussions. I'm also interested in house hacking and investing in up and coming areas. Anyone care to list some of the up and coming areas or areas that haven't come up but are predicted to? What are the average price per sq ft? Any luck with off market or wholesale deals? 

Thanks for the responses. I have two friends here in Dallas investing in D or worse apartment complexes, with low cost per unit, doing a full Reno, then a cash out refi after appraisal, and they seem to be really great cash flow machines. These are typically 16 units they’re picking up quite cheap. Yet the areas still have a decent upside since they’re not far from downtown.

A four plex in a decent part of town in DC seems like the smartest first move when relocating. Any word on anacostia or other up and coming areas? I’m more drawn towards city living.

Anyway do foreclosure sales in Baltimore? It may be hard for me to resist paying cash for super cheap rundown places. Who are most of the contractors up there? In dallas it’s 90% Hispanic labor, and speaking Spanish gives me a pretty big upside in finding workers.

I’ll be in DC and Baltimore the beginning of next week and would love to buy coffee for anyone looking to network.

what are the best DC FB real estate groups?

Hi all,

Contemplating a move to DC for myriad reasons.

I will most likely be selling my primary residence and some other investment properties here in Dallas.

I’ve had luck buying foreclosures on the wrong side of the tracks here. Low acquisition cost and big upside (lots of jobs and hot market) have been kind to me in appreciation over the last few years.

Browsing Zillow, the radically cheaper prices EOTH keep jumping out at me. I don’t particularly mind living in a worse neighborhood, especially if I could leverage 200 - 500k+ cash as a down payment to acquire and renovate a multi family in need of work.

I’m sure I’m not the only one thinking this. It seems like EOTH has a lot of untapped potential.

Other strategies include something with fewer units in a more desirable part of town with a smaller short term upside but more stability. I could also buy something nice to live in DC for myself (a walkable neighborhood close to metro appeals to me - I’d rather not live in suburbs right now) and slowly 1031 some properties to cheaper rentals in Baltimore (I’ve always had a weird place in my heart for charm city after spending weeks out there with a buddy in college). What’s the long term prognosis on Baltimore’s values?

I’m also quickly gaining experience in development, so acquiring land at a good price could be an interest play as well.

Essentially - if you had 250 - 700k to leverage (with 1031s and 20% down), where would you be looking and why? I’ve made some good money in the “up and coming” areas of dallas so that concept still appeals to me, but unfortunately my knowledge of DC / DMV / Baltimore Real Estate trends are rudimentary at best. I’m also interested if there is a good source for whole sale information as well, and learning about the foreclosure auctions up there too.

Thanks in advance.