I'm looking to invest in multifamily properties. Any suggestions?

Asked by Ken Parker, Washington, DC Sat May 25, 2013

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8
Lise Howe, Agent, Chevy Chase, MD
Sat May 25, 2013
It is harder to make a good investment in DC proper so I think it is important to broadly define your search criteria. Historically a number of investors bought in DC even though the rents could not possibly cover the carrying costs - expecting appreciation to make up the difference - and then we hit the wall. I suggest you consider Baltimore and Takoma Park. In addition, unless you have significant rental property management experience, you should stick to 4 unit buildings or smaller. Financing is much simpler with 4 units and under. In addition, it minimizes your likelihood of being subject to rent control.

I own several properties in Baltimore because the acquisition costs are reasonable and rents are good enough to cover your carrying expenses. I am proud of the quality of service I provide my tenants and the stability of my investments. I would be happy to sit down over a cup of coffee and share my experiences with you before you jump into the investment market.
1 vote
Carmen Brode…, Agent, Scottsdale, AZ
Thu May 30, 2013
Depending on your budget, smaller is usually better. It is wiser to put down 30% on a triplex than 10% on a six plex.
0 votes
Kelly Putz, Agent, Fairfax, VA
Tue May 28, 2013
Hi Ken,

Your question is rather broad. If you can be a little more specific, I'm sure we can give you much better information.

- Are you wanting to only look in DC, or do you have interest in MD and VA?
- What size property? 1-2 units, 1-4 units, 4-10 units or larger? There are tax and other issues in dealing with more than 4 units.
- What price range?
- Are you looking to hold the properties or flip them?
- If you want to flip, is zoning an issue?
- What sort of funding do you have: cash, private investor, hard money or conventional commercial? Sometimes type of funding can determine what is, and is not, feasible.
- Are you looking for turnkey, fixer upper, or a gut job?

These are just a few of the questions that will come up. The answers can help us greatly improve the quality of the answer to your question.

:)
Kelly
0 votes
Ken Parker, Home Buyer, Washington, DC
Sat May 25, 2013
My info is

ken_parker_99@yahoo.com

240-423-0212
0 votes
Rodwell Smith, Agent, Alexandria, VA
Sat May 25, 2013
The most lucrative real estate managed investments you will receive from acquiring the property that suits your desired Proforma. You can create those projections through our comprehensive search database. Learn more at: https://www.facebook.com/pages/Rodwell-At-Coldwell-Banker/34…
0 votes
Ellen Passman, Agent, Washington, DC
Sat May 25, 2013
Depending on your price point and condition of property you are willing to accept, there a many opportunities in and around the Washington area. i have investors as clients, so I am always looking for suitable opportunities. I could add to my list, let me know if you you are interested.
0 votes
My search area is from DC to Baltimore including all the counties in between.
Flag Sat May 25, 2013
Santiago Tes…, Agent, Washington, DC
Sat May 25, 2013
Hi Ken,
there are currently 64 properties on the market in DC
What's your investment criteria?
Santiago
202-552-5624
testa@testarealestate.net
0 votes
Michael Cunn…, Agent, Chapel Hill, NC
Sat May 25, 2013
What's your email? I can send you the mutlifamily properties that are currently on the market.
0 votes
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