Washington DC investors

[Account Closed]

Hey guys does anybody know what the current state of the DC real estate market is like ? Is the market hot right now? Is everybody buying? I am looking to invest in a multifamily property by next year. Preferabl 2 to 3 units. Any advice on going about this procedure?

[Russell Brazil]

The DC market is always hot in general. Some areas hotter than others.

I don't recommend trying to go the multifamily route in DC. It is the most competitive segment of the market due to the low amount of multis we have compared to other areas. The multis that are slightly less competitive will be nonrehabbed 600k plus row houses with a basement units. There really isn't any unit properties, and 4 units are generally going to be converted to condos.

If you are willing to go east of the river, things are less competitive over there.