All Forum Posts by: Dan Bernstein

@Joseph A. Samuels II...There are several areas in DC where many 4 units are becoming available.  Trinidad has a ton of them.  What makes these purchases great is under 4 units you can secure a cheap residential loan and if you plan on living in the unit you can put very little money down.  However, the main downside to going for a 4 unit in DC is that they are very sought after and it might take several offers on several properties to secure one under contract.  If you have a lot of cash, you will be more competitive during a multiple offer situation.  

Also, I would read up on TOPA regulations.  TOPA rights can really derail the purchase of a tenant occupied property in dc.

@Aubrey P. You could be leaving a lot of money on the table if you are incorrectly valuing the price per sqft of your buidlings.  Costar has incredible data and analytics.  PM me with more details, we might have someone for the space depending on the location.

@Aaron Smith GCAAR contract is pretty good, however its not going to do much for you when you have an issue with a tenant.  Best thing to do is vet your tenants completely and be willing to pass on tenants until you find the right candidate.  

@Aubrey P., Most commercial spaces in DC are listed with a Broker on CoStar and Loopnet.  Commercial brokers representing a tenant will most likely not check Craigslist or any other free site.  CoStar essentially has a monopoly on commercial listings and by not listing your property on CoStar, you are essentially missing on a large % of potential renters.  

@Martine Richardson, You definitely cannot list a property on the MLS if you have contract rights or an assignable contract.

@Renee Z., I wonder whether these regulations against use of personal property will be challenged in the courts.  Not surprising that MD is leading the attack in this case.

@Michael R. A Rowhome or small multi-family would work, but the investment would be considerably larger.

I like Silver Spring and Gaithersburg for good value in Montgomery County for flips.

@Mike Reynolds and @Jack Nguyen, in some high end neighborhoods like Lyon Park, the cost per sqft of new construction can be as high as $400.  

@April Chim, there are some commercial firms that are known to be litigious and aggressive towards even their past clients.  I would go with a smaller boutique brokerage with a broker that wants your business.