All Forum Posts by: Jason Piccolo

Hi Destiny,

I house hacked my first property in Kingstowne (Alexandria, VA). I bought a two bedroom townhouse style condo with a garage and rented the second bedroom to a friend of mine. The situation worked out well and I was comfortable with the living situation. These same condos are selling for the high 300's. It is a great way to get your foot in the real estate door and build some equity.

@Taylor Moncrief

Hi Taylor, our family owns a house a few blocks from the new headquarters in the Arlington Crystal City neighborhood as well as a couple of rentals. I can tell you that we have seen some good appreciation since the announcement in 2018. As people have stated, this area is great because of the government jobs, but the Amazon announcement has brought a lot more interest from other companies as well.

Thanks @Nick Belsky. I appreciate the info. 

Hi,

Does anyone know if there are any banks doing helocs on rental properties right now? Maybe small regional banks?

Hi @Sidney Alexandre, I would join a few REIA's like Traction REIA and see if you can get on some wholesaler lists.
If you are interested in monthly cash flow I would look into syndications like passiveinvesting.com. They buy apartments in growing markets like TX, FL, GA and SC where the population is moving. The tax benefits  of bonus depreciation in syndications are also amazing. 

@Ryan Allison Thanks for letting me know. I spoke with another broker in the area and he basically said the same thing. I might be moving my search to small multifamily’s in West Hartford. I hear they are much easier to deal with from a management perspective. 

I am debating buying a 25 unit building in Hartford around the law school/Harriet Beecher Stowe house.  I know the downsides of purchasing in CT are the extremely high taxes and the population growth has been -3.5%.  The building is currently priced at a 6 cap, 80k a unit.  Does anyone know what these type of buildings typically trade at and what are the downsides/upsides of that area?

Hi Raha, I would try to complete the project as soon as possible to start making money from the rentals. You never know what is going to happen to commodity prices. The only sure thing getting your rentals going. 

Hi @Mitchell McKinney, congrats on your purchase. I agree with the others  that say house hacking is the way to go to get your foot in the door in the DC market. 
Also, if you have extra investment money you should look into being an limited partner in some of these multifamily deals in the Southeast, TX and Florida. I have found some good operators that pay around 7-9% monthly cash on cash and with a capital event, (refinance or sale) usually in 5 years you can earn around 25% on exit.  They usually take 25k-50k capital investments and the tax advantages are really nice as well due to the bonus depreciation. 

@Christopher B.Welcome. There’s lots of great people on here and tons of resources.