All Forum Posts by: Peter Forrest

I think you should tell him to go shove it :) 

Feel free to consult your lawyer. My sense is that it depends on your lease. Mine says I am not responsible, and tenants need to get their own insurance. You did all a landlord could do - called the exterminator and he set the traps. You have not been negligent at all.

Hi guys,

I am looking for a CPA for my federal and local taxes, any recommendations? I am aware of Brandon, but I just need to choose from a couple of options.

thanks - Peter

thanks guys @Matt Medvene and @Account Closed. I met with an architect on Saturday who has done several 4-unit conversion in the city. Its a quite a process if the property is not zoned for it, but somewhat doable if zoned for it.

Thanks @Russell Brazil. A few people are doing it in Dupont and along 14th St. on Ust. I am sure there are other pockets within the city - I might just walk over to the sites and find out.

I am going big into 4-units this year, and have experience flipping and buying/holding single families. What zones in DC allow you to convert single families into four units? I have gathered its R5, but there are very few R5 zones in DC. I am not clear on the MUs.

Thank you so much!

@Steve Vaughan "drive your functional beater to your first closing with pride" awesome advice!!

thanks @chris mason

I just went though the whole "call everybody process;" hence the numbers are still fresh. In DC, I got between 4.5 to 5.5%: 5 year fixed (7 and 10 in rare circumstances), 25 year amortizations, and 1 point.  These are quite standard terms, they then vary on cool off period (fairly easy to get 0 or 6 months), LTVs ranging from 65% (common) to 75/80% on the high end. Some require your "skin in the game by only cash-out refi'ing 90% of the cost, etc. 

I have in the DC area. I am pretty sure they don't operate in SC. Your best bet is to find a list of all local banks and local credit unions and start calling :)

I think @Russell Brazil nailed it with his two options. I have used some mix of those two to get my properties. "future" rent income without the property already rented is a hard sell for many banks in the DMV area (local and credit unions included).