All Forum Posts by: Chris Wallace

Hi all I was wondering what resources you rely on to get values on prospective deals. Zillow and Trulia are free but sometimes are so far apart that I question their accuracy.

For example the estimates for this property differ by $75k

Also Corelogic has an AVM service but whose name escapes me at the moment. Have you used it? Also do you get Broker price opinions or should I worry about that since I'm not doing rehabs?

It might be better if he didn't risk releasing these to public at all. I'd recommend that he use drop box.com for sharing purposes.

6 months seasoning is typically the minimum

@naomi

That was one the issues with fourplexes I forgot to mention. VA and FHA loans can be very restrictive with regards to property use, condition and owner occupied status in condo buildings.

Hi folks I was just wondering if any wholesalers are using a DBA vs LLC to do business under? I'm considering forming an LLC later this year but I want to get some transactions closed first to fund the costs of starting a LLC. Has anyone used their future incorporated name as a sole proprietor DBA ie ABC Real Estate Services?

Thanks

Glad to be of service! Be sure to let us know what your final decision is.

Hi Naomi

Good luck with your search. I'm glad to see a veteran using the benefits available to make an investment in your self and the community. I'm sure you've heard this in your search. But it all depends on what you looking for and of course your price point.

But a few things:

The properties near the H St/Atlas District (Queen St/Holbrook put you very close but not in the middle of this popularizing nightlife area. They are close to the new street car and areas with access transit generally see appreciation due to nearby development activity. That said a lot of the "new" condos in that area are just converted fourplexes. So look very carefully and make sure you understand what you will and won't get in the small building.

In the areas east of the river (Edens Place/Penn SE, I believe there is definitely some upside potential but these neighborhoods are somewhat lacking in amenities. That may be due to their close proximity to MD. But you will have to drive to shop, go out, etc. But you'd still be inside the city and could get to downtown or even across town with a 20 min drive. The feel of these neighborhoods is more suburban.

I'm a bit transit/urban biased.

Hi Chris,

Welcome to BP! There's lots of great infomation here between the forums, blogs and podcats there's a lot to pick up.

Hi all I'm looking at a potential deal that I think might make for a good opportunity to convert the house into two units. Its row house in DC and I've noticed that a lot of the owner occupied homes I'm the area have a rental flat in the basement. In fact the homes on both sides of this property do.

Its a fairly large house 3 bdr 1.5 bath on the upper levels. 1600sf

The basement has a .5 bath and is about 900sf

Is anyone familiar with the process for doing this?

Thanks

Thanks Ophelia do you have any areas that you prefer?