All Forum Posts by: Cynthia Hartley

I can't wait to hear the next installation of your story. I just finished renovating my first investment property. I thought about writing about it, but it was such a long saga, I could not bear to do it in one sitting. You've inspired me to take the bite out of the elephant and begin a little at a time. Stay tuned...

Hi @Joshua Smith and @Aaron Smith. I tried to get a HELOC on a house that my sister and I own, but in which the mortgage is in her name. I was told by 4 banks that I could not get a HELOC on an investment property. I could only get a HELOC on a primary residence. Since you want both your names on the deed and you want to pull out equity, you may want to consider refinancing the house all together with both of your names on the deed and mortgage.

Nice job @Joseph Asamoah! Your after video has given me food for thought for my renovation. I look forward to attending on January 22.

I would recommend that you get a new agent. If there was indeed some impropriety, this was probably not the first time it has happened. Perhaps your agent was in on it, hoping to get you to bid higher. It does seem too coincidental. The important thing is to be comfortable with and to be able to trust the person with whom you are doing business. 

Most of the tankless heaters are designed for a higher capacity usage. Takagi makes a model that is suitable for minimal usage. 

A KEY thing to know with a tankless heater is that it needs to be vented horizontally to the outside and 3 feet from any window or door. It cannot be vented through the roof or tied into another vent. 

Hi @John S. It is my understanding that if you went with the intent of engaging in RE business and in doing so you scheduled appointments in advance of your trip and you have a paper trail that can prove this e.g emails, then you can write off a portion of your trip. If it was purely business and you engaged in business only while you were there, then it would be 100% deductible. If you spent 4 hours on  your first day meeting with a RE agent and seeing houses and the rest of the time you were on vacation, then only 10% of your trip could be deducted.  However, you do have to demonstrate that prior to your trip you had the intent to engage in business. 

Thanks @Russell Brazil. Perhaps I'm blazing the trail for Deanwood! :-)

Hi @Shane Forrest

If I understand your question correctly, you are speaking apples and oranges. Build renovate, rent, refinance, repeat is an approach for buy and hold properties. If you take rent out of the equation, you are flipping the property, in which case BRRRR does not apply. Perhaps I misunderstand the question?

Hi DC BPers,

I purchased a SFH in Deanwood with the intent of converting the basement into a legally permitted, separately metered accessory apartment. However, I cannot seem to find other houses sold in the neighborhood with a basement apartment from which to discern the ARV. Does anyone know how much a basement apartment can increase the value of a home?

Welcome to BP, Patrick. I too work for a large AE firm, in the international development sector. Good luck with your endeavors! Look forward to hearing of your progress.