Home Buying in Foggy Bottom>Question Details

Eindc, Home Buyer in Washington, DC

Finding a preforeclosures or short sales in Foggy, Thomas & Logan Circles?

Asked by Eindc, Washington, DC Wed Jul 18, 2012

I am looking for a property to purchase that might be in distress, but alas I am not a real estate expert. How does one get access to these listings, and what is the bid process to purchase them? Do you typically go to the owner and try to work an arrangement? Thanks!

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9
Hey Eric,

I love the name :) I can help walk you through the process. Call me at (202) 670-6677. I will send you the short sales in the Foggy Bottom area and we can go check them out this week.

Talk to you soon,
Ericka
0 votes Thank Flag Link Sat Jul 21, 2012
Eric, trying to get through, the storm evidently has interrupted my phone..Talk to me, I know what I am doing about this...yes, some are in the MLS others not...that is all I am going to say on this chat room.
email me at connieVRE@yahoo.com
0 votes Thank Flag Link Wed Jul 18, 2012
Hi Eindc,

Preforeclosures and short sales are going to be listed in the MLS by the seller's agent and you would either need to have your Buyer's Agent arrange a showing or just call the seller's agent. However, if you just call the seller's agent, they represent the seller and their fiduciary responsibility is to them, not to you.

My advice is, there are MANY more opportunities for a much larger ROI and cashflow in outerlying areas, particularly in PG County, Montgomery and parts of Howard and Anne Arundel. You are going to pay a premium for properties in Foggy Bottom, Thomas and Logan Circles, on properties that will probably need a lot of work whereas you could spend close to half of that and have the same cashflow from a smaller investment that doesn't need anything more than fresh paint and carpet, or possibly be move-in ready.

If you're interested, I am working with several investors right now on buying just these kinds of properties with monthly cashflows upwards of $300-$400/month - that's after mortgage, taxes and insurance.

Feel free to contact me anytime.
:)
Kelly Putz
Realtor®
DC/MD/VA
703-961-8663
kelly.putz@gmail.com
Keller Williams McLean
6820 Elm Street, Suite 100
McLean, VA 22101
0 votes Thank Flag Link Wed Jul 18, 2012
Hi Eindc. An agent represents buyers and the agent will contact the owner's agent for you.
I can help. Contact me and I will send listings to you. miekeba@heymannrealty.com
0 votes Thank Flag Link Wed Jul 18, 2012
Hi Eindc,

Feel free to give me a call or email. I can certainly help you get started with the process. I also have a pretty thorough list of very reasonable contractors to help with the renovation process as well.

Let's talk soon!

Katrina

Katrina Hill
Katrina.a.Hill@gmail.com
Cell/Text | 202.409.8334

REALTOR®
Re/Max Supreme Properties
Washington, DC
My Profile: http://katrina.hill.remax.com/Listings/FeaturedSearch_r4.asp…

Home Staging Professional
http://www.KAnnDecor.com
0 votes Thank Flag Link Wed Jul 18, 2012
Hello,

If you are willing to go a little out that specific area, I know of a fantastic foreclosure in Kalorama within walking distance of Dupont with 1400 square feet and with 2 BR and 2 BA if you would like to contact me. My email address is waynej@kw.com. Look forward to hearing from you.
0 votes Thank Flag Link Wed Jul 18, 2012
Hi. I am a real estate agent and also a real estate investor, so I am familiar with the process. It is not an easy answer but I love doing this sort of business and if you would like, I can meet with you and discuss further. In your pursuits you want to have a Real Estate agent whom you can contact to write offers, give you advise, etc. You need to find one you trust and can rely on. I work in DC, MD and VA. I am contantly on the 'hunt' for properties liek this that I can buy at a discount and wholesale or flip. There are more than I can handle or want to handle. Call me and lets set up some time to meet and talk about this informally. My cell is 202 262 7062, my email is connievre@yahoo.com. I am a Re/Max agent and I have been in this business for over 23 years. I love real estate and I love the opportunity that it affords for one's future. It's the best investment you can make, other than in your family and your God...take advantage of it. Lets talk.
0 votes Thank Flag Link Wed Jul 18, 2012
You should definitely hire a Realtor to help you get access to the listings, help you navigate the process of writing the contract, inspections, closing etc. I would be glad to help you if you give me a call at 240-401-5577
0 votes Thank Flag Link Wed Jul 18, 2012
The only property that comes close to meeting your description is a foreclosure in Foggy Bottom at 730 24th Street NW. It is described as a Spectacular Junior One Bedroom with Street-Facing Balcony on 5th Floor! A true gem of a Coop unit with brand new hardwood floors (forget old parquet floors or carpet) and an impressive full kitchen renovation that opens to the living space! Tons of storage, beautiful granite countertops, SS appliances including gas range, refrigerator with ice maker, and full-size dishwasher. Since it is a coop it is typically limited to owner occupants. There are no short sales or foreclosures in Logan Circle or Dupont.

Very often there are good deals which are not foreclosures, pre foreclosures or short sales, but are listed by motivated sellers at competitive prices. If you want to talk about looking for a good deal rather than just a foreclosure, pre foreclosure or short sale, I would love to explore the other possibilities on the market today. If you want to see the one on 24th I am delighted to show you that too. Good luck! Lise Howe
The Lise Howe Group
Keller Williams Metro Team Realty
240-401-5577
0 votes Thank Flag Link Wed Jul 18, 2012
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