Home Buying in Washington>Question Details

Sergiu Gil, Real Estate Pro in Annapolis, MD

Seeking residential property as an investment

Asked by Sergiu Gil, Annapolis, MD Mon Jun 17, 2013

Looking for recommendations/advice on investment residential property areas/zones (prefer apartment style or townhomes) that provide a decent rate of return and are NOT located in extremely bad neighborhoods in the DC area,something like a blue collar area or similar.

Seeking properties in the $100-$150k range and planning to pay cash.

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4
Hi Gil63017,


Give me a call if you are interested in SFH in NE that is priced to sell and could provide great rental income.
0 votes Thank Flag Link Wed Jun 26, 2013
Well sir, I am here to help!

FYI an agent or Realtor should not classify the neighborhoods. Any agent that tells you that they will only help you find homes in "good" neighborhoods are "redlining" (steering). I can give you the tools to help you find a good investment.

DC is a hot area period! There are a lot of things happening all over, you just have to have an agent that knows DC and what's happening here not just one that's out to make a quick buck.

DC can be expensive so for the most part if you are spending $150k you can figure that you are buying a property in that price range will need at least $40k + of work unless you are looking for a Condo. Believe me I have worked with investors and I have owned and operated a GC Company. If you are not currently working with an agent give me a call and lets talk.
0 votes Thank Flag Link Tue Jun 25, 2013
If you have 150K in cash, I think you would get a bigger bang for your buck by putting down 25% down or so and purchasing a property that will be more desirable from a rental view point.

That is, 150K may get you a 1 bedroom condo in DC but if you finance the purchase you could easily get a 2 or 3 bedroom unit that will generate a lot more rent, appreciate faster and likely will attract better tenants.

Feel free to contact me if you would like additional information about my suggestions. I have been involved in about six transactions in the past year where this strategy was used and the results have been satisfying,
0 votes Thank Flag Link Mon Jun 17, 2013
Hello, I've worked with investors in that price range who are looking in the NW areas of DC, particularly at condominiums in that price range. Areas such as in 20011. This would include Longfellow St, Kennedy St,... and streets in that area, if you are familiar.. Another area is in the growing and rapidly developing areas of Deanwood and East Capital St, 20019. I am happy to pull the latest listings and provide you with rental rates and current possibilities in the area. I work heavily in these areas for investors and am familiar with most buildings and condo's that allow for investors. valerie@bestaddress.com
0 votes Thank Flag Link Mon Jun 17, 2013
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