All Forum Posts by: Uzoma Onyeije

Looking on guidance on where to find information on all three jurisdictions in the DMV concerning whether I can advertise referral fees for leads that go to closing. I am looking myself but would appreciate any assistance. Thanks.

What about a 5-6% cap rate?

Sounds like I need to move on from 1% for multifamily in DC. Thanks Jay and Russell. Any quick back of the envelope calculations I should do to get starting figuring out if a deal is worthwhile to investigate?

Uzoma here. Just getting started. Interested in using a buy and hold strategy for multifamily units. I am having difficulty finding anything in Washington DC in good neighborhoods that meets the 1% test (monthly rent should be at least 1% of sales price). I have been advised to either come up with a new method of evaluating deals or invest in a less affluent area. I don't want to change my target area. Any thoughts on a more flexible way to evaluate deals that still leaves me in the black? Thanks.

Uzoma here. Just getting started. Interested in using a buy and hold strategy for multifamily units. I am having difficulty finding anything in DC in good neighborhoods that meets the 1% test (monthly rent should be at least 1% of sales price). I have been advised to either come up with a new method of evaluating deals or invest in a less affluent area. I don't want to change my target area. Any thoughts on a more flexible way evaluate deals that still leaves me in the black? Thanks.

Great advice David.

Thanks everyone looks like the numbers are not compelling.

Uzoma here. Just getting started. Interested in using a buy and hold strategy for multifamily units. And right now I am looking at a Multifamily home -- 4 units in the house. Pulling in 6350 in rent combined. All occupied. They are asking 896K. There may be flexibility. How should I do the math on this? Trying to figure the numbers before I start thinking about financing. I also wonder if it is too big for my first deal but something keeps telling me to not worry about it as long as the numbers work. Thoughts? And thanks in advance.

I am interested in smaller scale commercial deals in the greater DC area.  I am looking for referrals for an agent that can help get me on track in finding some deals.  Any input would be welcome.

Thanks for the note.  I am focused on getting my feet wet with wholesaling.  I am focusing on two neighborhoods (close to home and work) but wanted to avoid wasted effort because my time is limited.  So Linda, how do you go about finding the right crew for repairs?