All Forum Posts by: Shayne Brescia

Hello all!

I am looking for somebody that has some experience with DC flip/construction/zoning/building permits. I have a great mentor/partner who knows construction inside and out and this is my first project. Looking for somebody to help guide me and build processes to make my first project as smooth as possible. We are currently in negotiation on a property and looking to have a signed contract this week.

Thanks!

-Shayne

I agree with Robert. You can still find some great deals on newly renovated condos in many areas in DC. I live in Petworth, have for awhile and there are some condos near my block that are for sale in your price range with Metro Bus stops right outside your door and two metros within 1 mile.

Welcome Tony!

Long story short. Looking at a property in Wash. DC that is a home attached to a church. Home is currently taxed as a commercial property - E1 religious. Because it's attached to the church though, it doesn't exist on a map and not zoned. Seller is selling church and is willing to sell the home separate. Need help with this from a tax lawyer or anyone that has experience with similar situation.

Wow thanks Chris, that is incredibly helpful! I could realistically just have a side page on my blog that could have each of my projects that I want investors to look at with all the tabs of the deal. Thanks!

Hello all!

I am working on building a package to present to investors on a fix/flip I am working. I have the comps from my real estate agent, and I have the basic numbers. I am going to look at the place this week to estimate rehab costs.

What I am wondering if anyone has any old packages or presentations they have built and sent to investors? I am just trying to get ideas on how to present my numbers and data.

-Shayne

Thanks @Aaron Montague. I was mostly being sarcastic about all 10 units spontaneously exploding all at once but using the $150 a month for Cap Ex/Maintenance is a good number and close to what I was thinking.

I definitely will keep a reserve in place.

Now when talking cash reserves, let's say you have 10 properties that are exactly the same. Would you need to keep a reserve for all of them, or just a couple? I mean, everything isn't going to break all at once on ALL 10 of your properties.... right!?!

Thanks @Adam Roberts

Tenants will pay utilities. Current lease terms have owner paying Water/Sewer. I would like to make tenant responsible for that as well if I can renegotiate a lease or when turnover occurs.

I need to inspect the property thoroughly and I have requested the past 2 years of expenses from the current owner. I don't expect a lot of upkeep on this property and the tenants seem to be pretty happy as they have lived in the homes for many years.

$600 a month or so because it's a cash purchase...