All Forum Posts by: Michael P.

Nice I also (accidently) bought some rentals near HQ2.  Its a tough market now getting full price all cash offers with escalation clauses rejected.  Going out of state now for cash flow since I'm already heavy into appreciation holdings.

Personally I feel allowing pets lets me charge higher rent and have a greater pool of tenants to choose from, so if you feel the same way keep the old floors as long as possible.

Raise rent by $50 next year and self manage instead of $250/month (10%) property management and you’ll break even.

Lame-bo?  Get a Bugatti

@Ozzy Sirimsi because baltimore is disgusting lolol

Shingles? See a doctor!

@suze orman

Washington, DC has artificially inflated prices, due to constrained supply, as you cannot build higher than the capital building

@Tim F. Do you want to build a portfolio? Then i'd buy turnkeys from a reputable company where you can get in for lower prices and buy one house a year or whatever at 25% down of 120,000. Keep going in chunks of 30K until you have 10 houses or whatever your number is. Professional management will be less headaches over small dumb things. A tenant of mine in Arlington, VA just called me to complain that a neighbor moved a plant sitting on her patio. I told her I would personally drive down there if she wanted and dump the neighbors plants onto their patio for retaliation, just let me know if you want me to do that ... but she declined :(

Alternatively, do you want to stay local in nova, self manage 1-2 rental townhouses at 400K each and thats the end goal for your portfolio. Then go that route.  Depends on what your goals are.  Staying local has better appreciation, less cash flow, and less risk.  Going out of state more cash flow more risk.  Personally i'm doing about half and half local & out of state.  (Just starting up on the out of state buying myself)