All Forum Posts by: Payam Dastmalchi

For the past few months, we have been working on setting up a new networking for DC's real estate professionals and we are excited to launch our first dinner series event on April 3 at Provision14. Our first guest speaker is a zoning and real estate attorney with Cozen O'Connor who will share her thoughts on some of the recent changes in DC's zoning codes. This is a small and intimate event so please purchase tickets in advance. RSVP Link below.

Purchase Tickets Now.

Cozy. Nothing comes close to it.

Come and join 1500+ other members in Washington DC as we review and analyze a recent flip project. We will deep dive into our acquisition strategy, construction plans, marketing and some lessons learned.

We are expecting this event to generate a lot of interest so please only RSVP if you plan on coming since space is limited. Light refreshments will be served.

Link to RSVP on meetup group: 

https://www.meetup.com/DC-MD-VA-Real-Estate-Investing-Meetup-Group/events/241650158/

We are in our flip # 4 in 2 years and our funding strategy has stayed the same. We fund 35% of the project with our own cash equity and take a commercial real estate loan from a local bank for the remaining 65% on a 1-year term. The bank also funds 100% of the construction. 

We were lucky to get started with the bank right from our first flip because we own several investment properties and the lender felt comfortable funding us. We now have a great working relationship with them and give them a lot of business. 

Our first deal was off-market and was sourced by an agent that we had built a relationship with. He came to us with the deal, helped us with parts of the due diligence and asked us to give him the listing on the sale which we happily complied. 

Everyone walked away from the deal satisfied. 

We've closed a couple of wholesale deals at District Title. They are usually good with working with all parties for a smooth transaction. 

I am putting together a welcome letter template that we will be using to make new buyers feel at home and the transition as effortless as possible. I will be including various information on appliances, utility service providers, warranties, contact information for our GC, fun activities to do in the neighborhood, etc. 

I've seen some samples of welcome letters online but wondering if any of you guys have a template that you could share. I will be sure to upload/share my copy when I am done with it. 

It is time for another monthly meetup. We had 35 people present at the October meetup and expect a full house again. 

Join us on Thursday November 19th at 7pm as we discuss the basic financial evaluations of potential rehab deals. 

Pizza and beer is on us. 

RSVP here:

http://www.meetup.com/DC-MD-VA-Real-Estate-Investing-Meetup-Group/events/226328570/

Depending on what you are looking for i would also suggest looking at Cozy.co.  They are a new start up and I recently started using it on of our rentals and the process was simple enough that I am considering switching other properties/tenants to it. 

Hi @Dawn Johnson & @Karen Reynoso the November meetup is scheduled for Thursday 19th. Please RSVP via the Meetup page.

See you!

http://www.meetup.com/DC-MD-VA-Real-Estate-Investing-Meetup-Group/