All Forum Posts by: Loretta Gray

Yay! About time!

I agree with Chris... Not worth the effort required to make it work here

This looks great! I'll be in the area that morning/early afternoon with at a LNF group event in Bethesda. I'll swing by too!!

@Andy H. ... there are so many difficult aspects about being a landlord here in the Metro DC area. One of them is just the actual cost of the land. It is so expensive to begin with, that often the owner is better off to tear it down and build new. I found a home with a tree on it and the land alone was $350k... the owner had it listed for $425k and it sold for $420k. The demand and the constant turnover are also local factors that make it difficult. Additionally... there is also the exceptionally low inventory for multi-family homes outside of the DC city limits. DC is a different animal though. There are PLENTY of multi-family homes available in the city, but the rules for tenant's rights are very strict in the city. If you rent a property in DC you also have to have the property inspected by the city and you will be required to get a business license. It's not easy & it not cheap to be a landlord in DC. DC is also considering a bill to ban owners from AirBnB'ing their homes if they are 2nd homes. There is a lot to consider and a "50% rule" will be the exceptional experience here. 

I agree with Russell... that is a bad idea.

Hi All!! Looking forward to meeting up on Thursday. Our topic this week will be evaluating a multi-family unit, specifically a Triplex that is currently on the market

The material is really just what we work on in the group.

Hi All! I host a meet-up "mostly" every Thursday evening in Alexandria. Interested? --Loretta

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If an investment property doesn't make you money, what's the point??

Join us to learn the best practices on how to identify properties that align with your portfolio goals & discuss the 4 major benefits of owning, holding, & and renting your property

September Dates

• Thursday, September 13, 2018 - Not meeting
• Thursday, September 20, 2018 - We will be evaluating a multi-unit property and creating a business plan
• Thursday, September 27, 2018 - We will be evaluating a mixed-use property. Is it residential? Is it commercial? Spoiler ... it is one or the other in the eyes of the IRS and strategies to maximize your ROI We will also be discussing DC tenant rules and leasing strategies.

October Dates

• Thursday, October 4, 2018 - We will spend about 45 minutes discussing some creative strategies for wholesale'ing, then we will evaluate two inexpensive condos that are identical, but have very different returns
• Thursday, October 11, 2018 - We will be evaluating a Fee Simple property & a Condo, both same price, but much different ROI
• Thursday, October 18, 2018 - Not meeting in Alexandria - Presenting in Prince William
• Thursday, October 25, 2018 - Not meeting in Alexandria - Presenting in Pennsylvania

November Dates

• Thursday, November 1, 2018 - What would you get for your property? We will be evaluting a property that is currently owner occupied and will be rented. We will be looking at the process
• Thursday, November 8, 2018 - Not meeting in Alexandria - Presenting in New Jersey
• Thursday, November 15, 2018 - Not meeting in Alexandria - Presenting in TBD
• Thursday, November 22, 2018 - Happy Thanksgiving
• Thursday, November 29, 2018 - DC tenant rules ... there are a lot of them! Why does DC have SO MANY multi-family properties? We will evaluate one, but is it worth the headache?

New to the club? Great! Bring your experiences and meet others in the same boat!

#RealEstate #Investment #Renting #BRRR #BiggerPockets #Home #Property #MultiUnit

Loretta Gray