All Forum Posts by: Joshua Boshnack

Welcome to the area @Calvin Huang. The DMV is a great area to get started. Hit me up. I'm an agent in DC, VA and MD. Could give you some tips on directions you could take, whether you want to invest or wholesale.

Good insights. Thanks Jack. 

I'm trying to get a sense of the rehab costs/sqft for a fix & flip of the main areas in the DMV (Washington, DC, Norther Virginia, and Maryland). I understand there are some basic variables to consider, but the main ones I'm considering at this point are 

(1) the differences between DC, VA and MD. (I understand DC can be quite a bit more than the surrounding areas, though I'm not clear why).

(2) basic and luxury finishes. 

If there are any contractors, experienced flippers or investor agents that could drop some knowledge on me, it would be so appreciated. I'm a newer agent working with investors with no flip experience of my own and only lived in the area for a couple years. Thank you!!!

Hi Alazar - don't quote me on this, as I'm not an expert on the DCRA rules and regulations (I'm a newer re agent specializing in the sale of fixer uppers to investors, and cover all the DMV), but my team has sold multiple shovel-ready properties, pre-condo conversion, where the big selling point is that all the plans and permits have been approved and convey with the sale of the property. So, my guess, if they can provide the documents and contact info of the architect, then you should be okay. You are paying a little more as getting those permits does cost money and take time, but is worth it to a lot of investors to have that aspect already taken care of.  

Make sure you research Baltimore well. It can be block by block in terms of finding properties that will provide the ROI you're looking for. NoVA is more difficult, yes, but not impossible. But it's important that you determine your own algorithm for determining value and risk for these first few properties. What's a minimum ROI for an experienced investor may not be the same for you. Everyone always wants a homerun deal. But when you're just getting started, getting the experience and not losing your shirt in the process can be a worthy goal.

Working as an investor's agent in Washington, DC, you definitely want to abide by DC laws and regulations. This city finds any way it can to ticket and fine people and businesses.

You could use the Property Management company to fill the unit, since you're paying them to do that. It doesn't sound like it would be worth it to cancel only a month or two early. Are you planning on re-renting, selling the unit or just moving in yourself? 

The areas that border the northern DC line all tend to be great investments. Especially right there in the Route 1 corridor up to College Park is a great bet.

 SE DC is a little bit of a niche market in DC and the DMV as a whole. We should talk though. I'm doing business there all the time. 

 It's tough in NoVA. Still super competitive but we should definitely talk. I'm working in Northern Virginia, DC and MD.