All Forum Posts by: Vanessa Brown

Thanks so much for all the great insight. When I first started looking into tax liens a for years ago I decided that I absolutely did not want to fool with them in DC.

@Ned Carey Like you mentioned, lawyers creating issues, price drama, etc. The whole thing is just too much for me. I've got a couple properties in San Francisco and Atlanta so I've been looking into those states as well as North Carolina. Right now I'm mostly comparing laws and procedures from state to see if I want to be bothered. I figure it'll be a nice thing to try between projects when I get tired of the hustle and jostle of looking for rehab projects.

@Justin Pierce I definitely hear you about the gurus. My favorite quote from my first mentor: "How do you make money in real estate with no money and no credit?... By selling DVDs to people who think they can make money in real estate with no money or credit". I have a lawyer in Baltimore and another one in DC that I get most of my info from. I've also been checking out various state resources because they're usually free and seem to have more reliable information.

I will definitely look at those Washington Post articles because you can never have too much info. Tomorrow I'm right over to the tax lien forums.

@D Hane, Awesome deal! That's part of the reason I'm looking at tax sales, I figure I may find a good project, may find a cheap buy and hold, but worse case scenario if it turns out to be too much going on, I'm not going to purchase one I can't wholesale. I'll definitely shoot you an invite.

My favorite partner in hunting will be back from his paternity leave soon and I am looking forward to an outstanding 2014.

In my part of the world it's a pretty fast rental market. In two weeks there will be a bunch of applications and if all is well (price, condition, location) there should be someone moving in 30-60 days from when you begin. About the same as what Rick said. It's not uncommon though to get a good person in a week and have them move in in a week or two after that depending on when the house is liter for rent.

When my son was little I didn't want a lot going on and so I specialized in helping tenants find rentals. It's quick and can be decent money if you keep your price range up and do a couple a week. One thing I learned right away was that while investors, landlords, and agents may not have the info on management companies, tenants know right away who to deal with and who to avoid. The tenants taught me. I would hear things like:

"I'm not applying with that company, they don't maintain the properties."

"That guy keeps taking applications to make money off the apps, the unit might not be available"

"Those people have a floating credit requirement" Meaning they adjust it based on the applicant.

"They're horribly rude when you call their office"

While I had worked with these people as a professional, the tenants had actually experienced the month in and month out living with them. They knew the hassles and nonsense of applying with disreputable agencies. They pretty much taught me which companies made it hard to place tenants.

Eventually I started to realize that some very nice rentals remained vacant for way longer than usual because tenants had decided that the companies weren't worth dealing with. It created a situation where only bad tenants would deal with these companies. Then as a result of the bad tenant shenanigans the companies got even worse.

I started checking the yelp and google reviews and sure enough it turns out competent tenants who have been messed over also know how to write scathing accounts of it online.

I'm sure this same phenomenon happens everywhere, unless it's a place with just one or two management companies. There really isn't a rule of thumb since markets vary so much but if it starts to feel to you like it's taking a bit long...look into the consumer reputation of the company. Good tenants talk to each other.

@Justin Thanks! I just completed a wholesale in Woodridge (NE, DC over by the costco) and another wholesale in Petworth. I'm going to start looking this week for my first flip of 2014 (if I don't get bogged down in tax lien education) and I'm always on the lookout for joint ventures. Right now I'm also listing some land in Temple Hills and a house in Capitol Heights (it's better suited as a buy and hold than a flip so it's still hanging out on my board).

I'v'e found some people have extenuating circumstances for some of their prices. If it's too high all you can do is give it a shot and then let it ride.

I've had some luck do follow up specialty inspections. You can always get a licensed and certified electrician to reinspect just the electrical work or someone to look at just the stairs.

Home inspections are great but people often forget that they don't know everything. He'll have a hard time disputing the opinion of an established and reputable electrician who's been in business in town for years.

Outstanding advice from Allen!

I just wanted to add that on occasion I've been able to get some things done (out of the country) at a local military base. It may have been easier because we were military at the time, but there are some civilian services as well that may help you if the consulate or embassy are too far.

If you have a trusted business partner and can wire the money ahead you may also be able to establish a limited power of attorney for the deal that is restricted to terms you have already agreed on, and only for that deal. That person may be able to take care of signings for you as well.

My partner and I tend to stagger our trips for exactly this reason.

If you are completely in the dark you may want to consider partnering with someone in your are with a little more experience who can help walk you through it. Sacrifice some profit in exchange for knowledge.

Hi I'm Vanessa Brown, Realtor and Investor in Washington DC. I took a couple years off from BP and decided to go with an all new account to accompany my brand new efforts and return from baby break.

Last year was outstanding and I plan to make 2014 phenomenal. I love to meet new people and hope to learn a lot.

I've looked at the posts and they all make sense. I know that it definitely varies from state to state. I know that getting something expunged in Virginia is extremely difficult.

It's always great to start out in your own back yard and of course you could find an agent to partner with or get into wholesaling, etc.

I'm in DC and we have the advantage (or serious disadvantage) of being able to work in 3 different states with 3 different jurisdictions at the same time. Have you considered the 2 hours to DC or hour or so to NC? It might make a huge difference.

It seems to me though that there should be a time limit on mistakes we make when we're young. I wish you'll the best.

When I was a new agent I had great success with desk duty. The agents in my office who had plenty of business felt it was a waste of time but I would sit at the desk, answer the phone and talk to the walkins. My entire first year I did this and a couple months I got million in a month sales ribbons.

Right now I'm using a Frankenstein monster made up of parts from here and there that I liked. Web stuff, craigslist, some open houses.

My current favorite when things are slow is to pick a great listing that belongs to our broker and market the dickens out of it. It drives calls to my phone and traffic to my site and I usually have a great time selling something he couldn't move.

Also do some rentals in your down time. In the next year or two when they move up to buyers they'll remember that you want their business when others couldn't be bothered. Just keep in touch with them.