All Forum Posts by: Account Closed

Welcome @Juan Rodriguez!  It's about an hour from you (but still closer than I am and I attend), but you might want to check our MAREIA.

@Matthew Kreitzer may be able to help you if you need VA stuff.

@Tyrone Johnson, there is no set price and from a contractor's perspective, I could care less what you make as a wholesaler... so long as you're bringing investors good deals where they can make money... that's what matters.

There's lots of information on wholesaling here on BP (several great podcasts dealing with the topic too)- devour it!

Good luck to you!

I'm not familiar with Allure flooring, but if it's practically water proof as noted by @Edward Mccracken, then, as he indicated, the moisture is likely collecting from below the sub-flooring (be it a crawl space, basement or sleepers on a slab) and building up underneath the Allure (e.g., waterproof = impermeable).

There doesn't need to be visible standing water for this to happen either.  Environmental moisture vapor, within the air or being released from the ground, can easily collect on the underside of flooring.  I've seen many different types of flooring and decking buckle and bubble from this very thing.

Did the moisture lead to the Allure flooring needing to be repaired?  What was the floor covering before the Allure?

Conversion differences may come into play too... typically the first things that come to mind for me when considering a basement apartment conversion are:

1) Headroom/ceiling height

2) Meeting the egress requirements

3) Is the sewer line low enough to accommodate a gravity system or will a sewage crock and pump be required?

@Russell Brazil, I'm confused... a quick glance at wmata's site says that that house is .14 miles from the bus stop that goes directly downtown... 22 mins total estimated travel time (including walking time) to Metro Center and 26 to Federal Triangle.  According to Google Maps, from the rear alley access, it's 371 feet to the bus stop.

How much closer to a direct downtown bus route are buyers looking for?  I thought folks in the city were largely walkers?

I think an investor out there is quite happy at the moment... looks like they bought the place for $300K in September, and had it under contract in December for $830K after a mere 11 DOM and no subsidy.

As for comps being larger @Russell Brazil, how much is that a really a factor for the demographic buying in the area?  

@John Fabros, isn't that particular property less than 3/4 mile from the nearest subway stop... is that not considered relative access there?

On another note, as FYI, the coffered ceiling is likely a capitalized consequence of creating the open floor plan and adding central HVAC... concealing a dropped beam(s) perhaps, to create the openness, and at least in the Kitchen area, it is concealing ductwork.  

On the Marketplace landing page, top right hand corner, you should have a bluish colored box to Subscribe/Unsubscribe to the forum.

Under Manage Keywords, is where you'll set-up the city and/or zip code and you have the option to include/exclude the Marketplace from this.

Do you know if any of those other 80 homes have sold anytime recently?  If not, then viable comps may not exist.

If you don't have access to your local MLS, have an agent run them for you. Or, if you've got the time and inclination (and you can access the city/county/state records), you can pull up each individual address and see when it last sold and for how much.

Since you have Redfin coverage there, you could also search each address on that street, and scroll down the page to the Property History.

Having an agent run 'em though sounds way faster and easier (and you'll get subsidy information too).

Good luck!

In my experience, properly designed, constructed and maintained flat roofs aren't any more problematic than pitched roofs.  And arguably, when the melting begins, flat roofs are less likely to have mass chunks of snow slide off... common among pitched roofs, and when it happens, gutters are often damaged or torn down and shrubbery and the like below, may also be damaged.