All Forum Posts by: Shayne Brescia

@Shawn Gageby, Yes I have two partners that focus on the construction side in DC.  Both can complete projects large and small and are also investors.  

Got it thanks @Russell Brazil. I have had plenty of tenant issues when trying to buy homes that had existing tenants.  People are generally scared of these properties, but if you can get some facetime with the tenant they will generally like you better then their old landlord.  

@Russell Brazil Did you have a formal in paper agreement when you paid the tenant to leave or was it all a handshake?

Welcome @Shawn Gageby!  I am working a similar strategy as we are doing flip projects in DC but I am looking to buy in PA for rentals.  Where in PA are you focusing on?  My wife is from Central PA, and we have a good network of family to assist.  

UMD has been making a huge push the last few years to get all students in their own housing.  This is a similar trend for many large campuses across the country.  

I am not saying it isn't worth pursuing but If I wanted to invest close to campuses, I would focus on rentals for college employees.  Making them a little nicer, close to the campus, with an area to entertain, and with stainless steel and updated kitchen/bathrooms.

-Shayne

Welcome @Uri Robinson!  I love some of the "Up and coming" neighborhoods in DC where you can still find some multi family.  As @Russell Brazil said, there are good properties that will cash flow a bit, but your end goal should be 5-10 years where the appreciation will really pay off.  I have some contacts that are buying properties in certain neighborhoods, putting in a little work, and then locating good section 8 tentants.  The goal is to keep them rented for minimal effort over the next few years and then condo convert or sell the appreciation.

@Marielle Walter

I really like the future of the Fort Totten community right now.  With all the projected development near the metro, completed development (new Walmart) and the interest from the City and neighborhood commission, Fort Totten is going to be great.  I think that Fort Totten has a higher ceiling then more secluded neighborhoods without metros.  It is tough to imagine now, but Fort Totten will be a mini Columbia heights.  I think you will realize your gains sooner then later.

Side question:  Is the home fully renovated right now?  

I only have attorneys that work Probate issues for real estate.  What type of lawyer are you looking for?  @Christine Nieva

I took a look at it, it's a decent property.  Good thing about that neighborhood is at least it is CLOSE to the market price in that location.  A standard uneducated homebuyer will likely buy that property at close to that price.  

Hey @Russell Brazil, which home are you referencing in Petworth?  We have multiple projects at the moment in that area...  Would like to look at it with your analysis!