All Forum Posts by: Account Closed

Matt, DC is HIGHLY competitive. I would suggest going to some REI meetings or start networking with local brokers/realtors that have been working the scene for some time. Also, I would start looking at multifamily that has 5 or more units. Duplexes are just that, Duplexes.

To give you an idea of how competitive this market is, I was offered a 6 unit MFH yesterday morning at 830am-ish that needed a complete rehab in NE DC. The listing Agent told my agent that it was contracted by 11am that morning. I was planning on trying to view it by 12am that same morning, oh well. It's contracted for $845k and was listed in CoStar. $845K is not expensive in our market.

@Joshua Dorkin

I've seen this plenty myself. More often I see it within a thread of of a forum. Sometimes the entire thread goes private. When I see private I feel like I'm outside the "circle" and not sure why even when I pay for a membership. Maybe BP could change when a forum goes private to "deleted". Seems to be the choice of words BP uses that makes others feel the same.

@Ibrahim Hughes Green card was new to me. Thanks!

I've looked at listsource.com but never used their services. I use agentpro247.com (no affiliation). Works for everything I need so far. I get 2K records for absentee owners etc for $20mo.

Hi Chris, as you can see from @Kris Haskins post there are many people here ready to help out. Stick with it and good luck!

I am looking for some direction on how to finance a portfolio of 5 homes in DC. This is all off market and my window to contract is small. I'll have figures for review later today.

All properties are row homes and have never been rehabbed. Very nice and highly sought after areas, 1-2 blocks to metro's, on the new trolley lines. I only want to buy, rehab and sell.

4 of the row homes all in the same cluster located in old city#1. The other 1 row home is an end unit in a different cluster located in old city#2.

Fun area. The 4th is always a good time. More boats then water!

I'll guess demo is completed and foundation poured? Wait no longer to finalize your concerns because, what I'm reading sounds like your builder is all over he place; you already know this. Do a google search for finish schedules and you'll find many templates. You might want to choose one and have the builder complete it with product and allowances.

Your lot probably is not an issue seeing as its a tear down and permits are in hand. Just make sure that the propane tank can be buried properly and won't "float".

Granite at $100sqft?? $50 sqft. is plenty which would include most edges.

Cabinets are usually done by lineal feet (lnft) and $145 lnft should cover it.

Lights, I usually allow $50 a fixture and count the savings at the end.

Good Luck!

Cheryl, There is just way too much info missing in the posts for anyone here to accurately advise you about builders line item costs. Just taking a sqft number and applying it to a plan spells certain doom for all involved. Every little detail needs to be reviewed and accuratesly taken off. You should have a finish schedule that spells out all your product and materials for your entire home. This should have been completed by your architect/draftsman. We build many different levels of homes and it usually gets very expensive when all the details are made up along the way.

Where are you building? North Neck? Spostylvania? Luoisa? Culpeper? Do you have your own plans/buy off internet/use the builders? Is this bank financed/cash/other? What are the site conditions/topography/soil/etc? Do you have central services/septic/alternative/well/etc?

Just be real careful in whom you choose as a builder. It could be a wonderful expereince or it could be hell.

Thought this was the case when I read Maastricht, The Netherlands and the reference to "Plastering". Try a search for other REI groups in the netherlands as I'm not sure what international presence BP has. Good luck!

@Steve Wilcox definitely took advantage of my partners in experience on this one.

@Wayne Brooks what burns me is that all parties initially agreed to not having any realtor/brokers and therefore our offer would be a better value for all. Nothing I can do when the seller changes his mind. My mistake was not covering my partners by gettting all of this in writing first. (hand hitting forehead)

@Joel Owens We often take a 30-90day study on land deals without any money down. If we do put money down its always refundable if it cant be developed for our purposes. Sellers usually want non-refundable but they can either take our offer or keep marketing. There's always another deal for us somewhere. I like the parachuting reference, I refere to them as sharks. Now I can laugh at teh visiosn of a shark parachuting. lol