All Forum Posts by: Deirdre Brown

BEFORE YOU START A CONDO CONVERSION PROJECT IN DC GET THIS FREE GUIDE

Topics covered include how to choose the best property, how to choose the best contractor, how to obtain a condo conversion certificate, the condo registration process, fees and more. https://tinyurl.com/ya4bcsyh

@Karelyn Cruz  In my opinion if you do not have 5-10% downpayment saved up you should take advantage of the DC Open Doors program.  Also, there are  other First Time Homebuyer programs available in DC.  DC Open Doors is not the only program that you may qualify. I have a workshop on my website that goes over all of the programs available in DC including ones that help you reduce your real property tax.  Some of the programs are based on income, some are based on employment and some just require you to live in your property as your principal residence. Now is the time to buy.  We do not know how long interest rates will remain low or how long these programs will continue to be funded. 

@Aaron Smith  IZ only applies when there are 10 or more units.  stay under the 10 and you should be OK. 

@Jackie Thomas I am also in the title industry. I am a settlement agent in DC, MD and VA. Most of clients purchase in or near DC - DC, PG County and Montgomery County. I work with a lot of local investors. Feel free to reach out to me.

@Phillip James  can you provide more info?  either here or in a message?

Thanks

@Shaquetta Chittams send me the address in a private message and I will look up the status for you.

Welcome to BP @Jennifer Drew   Feel free to reach out to me about the condo conversion process. I have worked with investors in DC on completion and submission of condo documents. It is a long process, but it is manageable and can be very profitable. 

Welcome to BP @Justin Ebling. Reach out to me if you need help in finding vacant and distressed property owners in the DMV.

Lenzy,

The short answer to questions 1 and 2  is, Yes, any  those scenarios may exist. 

The answer to question 3 is governed by the will (if there is one) or the intestate laws of the jurisdiction. If there is no will, in general the intestate law is the order of inheritance is spouse, siblings, parents, next of kin - in that order. And the heirs may share ownership if the person died without a will. There are also rules about children born out of wedlock, half siblings etc. Basically it is case by case - circumstance by circumstance.

Once you find the next of kin - you need to make sure that you ask all of the right questions. Starting with, is there a will.

Welcome to BP @Scott Defries.  Sounds like you are moving in the right direction. My suggestion would be to build a team of professionals that can help you reach that goal of five properties.

Good Luck.