Anonymous
Post 05/08/2019 09:14     Subject: invest in rental property in DC
Anonymous wrote:
Anonymous wrote:Draw even, at best. Don't buy a condo WOTP or Center City now.

I've offered my unwelcomed advice on places under $300k to invest over the last ten years including Brightwood Park, Woodridge, Brentwood, Deanwood, Barry Farms, and everyone has laughed. I'll take my revenue generating to the college tuition bank.


Three of the five places you mentioned have a murder rate I wouldn't touch with a ten-foot pole. Brightwood Park is one of the most un-metro accessible parts of D.C. aside from Georgetown. Woodridge, VA is practically in Richmond.

None of those places sound reasonable and I have to wonder what your tenants are like. Do you take Section 8? Do you have a housing manager? Do you do it all yourself?

Woodridge is a DC neighborhood that has nothing to do with Richmond.
Anonymous
Post 05/08/2019 09:07     Subject: invest in rental property in DC
Anonymous wrote:
Anonymous wrote:Draw even, at best. Don't buy a condo WOTP or Center City now.

I've offered my unwelcomed advice on places under $300k to invest over the last ten years including Brightwood Park, Woodridge, Brentwood, Deanwood, Barry Farms, and everyone has laughed. I'll take my revenue generating to the college tuition bank.


Three of the five places you mentioned have a murder rate I wouldn't touch with a ten-foot pole. Brightwood Park is one of the most un-metro accessible parts of D.C. aside from Georgetown. Woodridge, VA is practically in Richmond.

None of those places sound reasonable and I have to wonder what your tenants are like. Do you take Section 8? Do you have a housing manager? Do you do it all yourself?


Brightwood Park is bordered by the Fort Totten Metro stop. I know because my kid attends school in BP and takes the Metro there every day.
Anonymous
Post 05/07/2019 23:26     Subject: Re:invest in rental property in DC
Invest in a REIT fund instead. Better diversification and much less hassle.
Anonymous
Post 05/07/2019 23:10     Subject: Re:invest in rental property in DC
Anonymous wrote:Thought it would be good rental
Studio around the area rent for like $1600 a month
What am I missing?


It's a co-op, with as the PP above stated - severe restrictions on rentals. You don't 'own' the apartment and the HOA board will quickly tell you you can't rent out.

Have your realtor ask for financial documents. If the deal is too good to be true, ESPECIALLY in Logan Circle, there's a reason why.
Anonymous
Post 05/07/2019 23:09     Subject: invest in rental property in DC
Anonymous wrote:Draw even, at best. Don't buy a condo WOTP or Center City now.

I've offered my unwelcomed advice on places under $300k to invest over the last ten years including Brightwood Park, Woodridge, Brentwood, Deanwood, Barry Farms, and everyone has laughed. I'll take my revenue generating to the college tuition bank.


Three of the five places you mentioned have a murder rate I wouldn't touch with a ten-foot pole. Brightwood Park is one of the most un-metro accessible parts of D.C. aside from Georgetown. Woodridge, VA is practically in Richmond.

None of those places sound reasonable and I have to wonder what your tenants are like. Do you take Section 8? Do you have a housing manager? Do you do it all yourself?
Anonymous
Post 05/07/2019 23:06     Subject: Re:invest in rental property in DC
Thought it would be good rental
Studio around the area rent for like $1600 a month
What am I missing?
Anonymous
Post 05/07/2019 22:58     Subject: invest in rental property in DC
Draw even, at best. Don't buy a condo WOTP or Center City now.

I've offered my unwelcomed advice on places under $300k to invest over the last ten years including Brightwood Park, Woodridge, Brentwood, Deanwood, Barry Farms, and everyone has laughed. I'll take my revenue generating to the college tuition bank.
Anonymous
Post 05/07/2019 22:56     Subject: invest in rental property in DC
Look for a condo.
Anonymous
Post 05/07/2019 22:53     Subject: Re:invest in rental property in DC
Guess that is why they have not sold the place for 3 months…
Anonymous
Post 05/07/2019 22:27     Subject: Re:invest in rental property in DC
Do not buy there - that's all I can say.
Anonymous
Post 05/07/2019 22:27     Subject: invest in rental property in DC
Do not invest in residential real estate in DC. The District is very anti-landlord, with most laws favoring loser tenants.


Anonymous
Post 05/07/2019 22:21     Subject: invest in rental property in DC
The building is a co-op so there are likely rules to restrict or prohibit investor purchases.
Anonymous
Post 05/07/2019 22:07     Subject: invest in rental property in DC
I say this as someone who is ride or die dc: I would not be a landlord here. Newp.
Anonymous
Post 05/07/2019 22:03     Subject: Re:invest in rental property in DC
co-opt?
Anonymous
Post 05/07/2019 22:00     Subject: invest in rental property in DC
Thinking investing an apartment to rent out in DC

https://www.redfin.com/DC/Washington/1300-Massachusetts-Ave-NW-20005/unit-505/home/21488349

looks neat! any ideas?