I will soon be working with a buyer that is looking to invest in the DC market. Although for the past year my focus has been on leases and not sales I'm a bit out of the loop in what's happening on the investment side of DC. I have a few questions if anyone is willing to share.
1. Which part of DC are people finding investors buying and flipping in?
I have access to MLS and can figure out ARV's and find out current and past sales. But I"m curious to know which neighborhoods are most attractive. My buyer would like to stay in the NW region although I've had some investors head over to the NE region and have been doing quite well.
Despite DC's stringent tenant laws I to would like to invest in this area. If anyone care to share some knowledge or where to go to find this information I would greatly appreciate it.
Thank you in advance!
The parts of NW DC where I'm seeing a lot of flips are primarily Petworth and Brightwood, and to an lesser extent, Shaw, Ledroit Park, Columbia Heights, and Bloomingdale.
If your investor is interested in maximizing his profit margin, I would not limit myself to NW DC. Other hot DC neighborhoods for flips are Eckington, Brookland, Trinidad, Capitol Hill East, Kingman Park, and Langston/Carver.
There are also some good flip neighborhoods across the Anacostia River, but I am less familiar with those and don't have any personal experience investing there so I won't offer up any recommendations for that part of town.
Thank you Robert for this information! I had an idea and you confirmed many of these neighborhoods to be true. I love the DC area and I'm looking forward to delving more deeply into the market.
We have had success with some simple door knocking around the homes that we are currently flipping in Petworth and Brightwood park. It definitely pays to talk to everyone you see!
I really like the area around the Fort Totten neighborhood right now. There is a lot of development near that metro and lots of space to grow. I would look within walking distance to the metro (under 1 mile).
@Shayne Brescia Thank you for this information! As this is what I am finding out.
When you door knock are you just finding out what people know about the neighborhood or are you asking them specific questions?
I have seen a lot of activity around H St. as well more so the NE area. What seems to be great about DC is you can both cash flow pretty well (if you do your due diligence properly of course) and you can flip just as nicely. There's huge potential in many of these neighborhoods.
Talk to people, let them know what you are working on and that you are interested in buying houses in the area. Explain the process and where you can save them money.
Obviously as a real estate agent, you can really help on both ends of the spectrum. If you find a deal that doesn't have the best numbers, you can always sell the house on the open market!
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