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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The only way to make $ in DC from renting is to play the long game. You have to be committed to 20-25years. If you are and you have staying power so if there is an extended vacancy or massive repair its not a big deal, then you can make millions and have great cash flow. I’ve got 7 rowhouses in NW, $4 million in equity and monthly positive cash flow of $21,000k (after paying everything including exenses) and monthly mortgage paydown is $13k a month. But this has taken 15 years to achieve. [/quote]

Nice. Curious to know what year you last purchased and at what price?[/quote]

Last one was a 4 unit row house that I bought in 2014. I paid $1.5, which was a great deal. The rent roll was $9200. I spent about a $100k to do improvements and it just appraised at $2.2. By the improvements, I increased the rent roll to a little over $14k a month. [/quote]

That is awesome. Great job. How long are you hoping to take to pay them off since you are accelerating payments?[/quote] 
I think it's playing the long game with a systematic plan and a careful assessment of each investment on whether it's really going to pay off.  So many people are accidental or casual landlords and if the diff between mortgage payment and rent is a couple hundred they think it's going to pay off.  If you did a 'long game' of this kind of investment where each one doesn't assess opportunity costs, maintenance costs, taxes, labor, vacancies, additional insurance etc. it's a recipe for ruining your wealth.
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I completely agree. I was very lucky and things could have easily gone poorly for me. I started buying in early 2000’s bc prices where going up 10% or more year after year and money was so easy to get. I thought prices would always go up, bc that was my only experience. I didnt even think about the cash flow. Then the financial crisis hit which ended up being good for me bc interest rates plummeted and I was able to refinance the properties to super low rates. And people kept moving into DC at a rapid pace. So I had this situation which was fortuitous where my costs dramatically decreased and the rents dramatically increased. And I was lucky bc home prices in NW DC didnt decline nearly to the extent that they did in other places. And finally I was lucky in the sense that this is my part time job. I make a lot of money in my real job, which allowed me to have staying power with the real estate to get through hard times, and there were certainly those times. Ive been spending my extra money in improvements to the properties I have in order to improve the cash flow. Ill probably buy a few more in DC eventually- mine are all in the same zipcode and I wont go outside of that. [/quote]

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