All Forum Posts by: Vasa G.

 real bummner!! Did you found another heloc option besides navy federal if you have more then 3 rentals? I think that TD bank offers heloc

 Thank you!

Hello All,

With the current interest rates increase, I am starting to expand from only doing long term holds and looking to build a team for doing full scope RE development in DMV area, and I that will include from flips to converting single home family house in Washington DC to condo units, and looking for the architect recommendation that has experience doing those type of projects and dealing with DCRA /DOB. I already have some condo projects in pipeline lined up.

I have developing / construction experience in DC , so I am already pre-approved for construction loans , and have small group of partners /investors and We are looking to expand our group and do partnering for future deals with other active/passive investors  , so feel free contact me if interested in doing joint venture investing in DMV. 

Looking to do conversion of single home family to two units in Washington DC, that will include upper and rear addition and looking for architect/ drawer recommendation. My guy doesnt do those kind of projects. 

Can anyone recommend bank/credit union / lender that borrows against equity in residential realestate , something like traditional heloc that goes on your personal name, only this line of credit to be for the business.

Trying to see what are options out there to access the equity in the residential rental properties in dmv

Can anyone recommend bank/credit union / lender that borrows against equity in residential realestate , something like traditional heloc that goes on your personal name, only this line of credit to be for the business.

Trying to see what are options out there to access the equity in the rental property besides heloc in dmv

 Hi MIke,

Any luck with setting up QB self Employed? I was planning to use it for my rental accounting ,but it looks like it is pretty basic version with no options to add accounts or set up costumers.. 

I am reading another comments and there are all valid arguments. 

Let me put more options to include Into your analysis. 

If you are planning to do development yourself , you need to know that condo conversions are most advanced project construction wise, as you a have to do full gut work with underpinning, building addition in the back and adding new uppper floor to maximize sqf. so if you are not into contruction world , your need to plan that your construction cost per sqf will be on the higher side.

Regarding waiting for 2 years or more , Zonning in DC is constantly changing, and it is constantly changing towards restricting development.

Before you could do a 3 condo conversion in most of neighborhoods  and have high ceiling condo and roof access for roof deck as height limit was 40 feet for building. 

Now it is 35 feet height limit , only two condos per unit , no roof access from inside the house and you can’t  touch the front of the building. 

That laws are mostly influenced by Historic Designations board and they are very active and influential in DC government. 

If Trinidad becomes historic designated , not only that you will not be able to do your planned expansion , but they will control what kind of windows , entry door and fence you can put on your house.  

Congrats on your purchase and good luck with your project.

Hello,

I dont know if you are aware , but new update on Wave doesnt offer anymore to move transactions between companies. 

I agree that there is a constant demand for short term ( Over 30 days ) furnished housing in DC. And Airbnb has option for longer term stays on their site. I don’t know how your platform can be diferent  to already established airbnb platform.