All Forum Posts by: Dan Bernstein

I'm with EXP Realty.  Fastest growing company in the country.  Very cool platform...happy to discuss.

@Loretta Gray Great to see that there is a meet up in Alexandria.  How often are you guys meeting?  Are you guys exchanging any offer market deals?

@Claudia Everett There are less and less foreclosure opportunities in NOVA, however you could follow many of the auction sites in the area.  I would definitely find someone who knows what they are doing in purchasing at auction before attempting for the first time.   You can also connect with some of the local wholesalers and investment groups on here and facebook.   

@Herve Francois - happy to chat, I'll connect with a pm.

Hi Don, 

I'm located up in the DC Metro area and would be happy to chat.  There are many opportunities out there and typically its a matter of networking with the right people.

I'll PM you.

Hi Daniel, happy to chat, I'll PM you.

@Vinod Palle Welcome!  There is a lot of opportunity in the DC metro.  Very stable market to buy and hold.  Good luck!

@Anthony Tortorello, Welcome!  DC has the most supply of small multi's.  Its definitely possible to get one and make it work, just takes time and patience.  Networking and finding off market deals is probably the best way to go.

Good luck!

@Ken Nyczaj You should build in a feasibility study into the contract with a clear exit clause.  During the feasibility study, the owner has to provide you with all of the rental contracts for review.  

@Jacob Masters, I would stay away from Baltimore until you do your research.  Baltimore's market is way more volatile than the DC market and people who are investing in Baltimore know that they are taking a larger risk than placing capital in the DC Metro.  Most of the small multi 2-4 unit are in DC.  Unless you are willing to live in the district, I would look at purchasing a single family/townhouse, adding value then keeping it as a potential rental. 

If you go for a 2-4 unit, you can use an 3.5% FHA loan up to 1.3 Mil, but the rental rates will have to justify the appraisal, which can be difficult sometimes with rising value. If you can get your hands on a small multi, holding the property until the neighborhood is ready for condo conversion can be extremely profitable.