Why Invest in Real Estate in Washington D.C.?
Everyone and their mother are chasing investment properties in D.C. because they finally got the memo from 2010 that D.C. rentals are a great investment. Let me be blunt: Unless you already purchased property when prices were lower, that ship has sailed. Let me be even more blunt: If you’ve never done this before, pay attention. People don’t get rich in real estate when they don’t understand how the industry works. Sure, unsuspecting people may have experienced windfalls during the run-up of prices in 2000-2006, but the market corrected most of those loopholes. Loans aren’t as easy to get as they once were so there aren’t as many buyers in the game as there once were. Buyers now are serious — they’re pre-qualified, they have down payments and good credit.
If you still want to be a landlord, there are number of other District offices that come into play to govern the landlord-tenant relationship. A full list and description of the services offered is included in the Landlord Tenant Act.
The real estate market in D.C. is very efficient. Homes that have true investment potential typically end in a bidding war bloodbath. It’s unfortunate that I have the same conversation with beginner would-be investors at least once a week, but they all reveal that they had no idea about any of this. This is where my universal advice about investing in real estate stands: Just because you saw it on a Reality TV Home Improvement Channel, doesn’t mean it’s something that can be pulled off in real life — especially if your only experience with real estate investing is based on what you see on TV. The market here is too efficient and the career investor too savvy to allow anything with true potential to sit on the market waiting for a novice to swing by with a checkbook and a dream of quick easy wealth.
Probably the lesser-known hamlet of New Castle, Millwood is a lovely community of around 1,000 residents. It lies to the north of Gedney Park, along the Somerstown Turnpike. Convenient access to transportation makes the commute to New York less than an hour, via car or rail, from nearby Chappaqua Station.
Returning to Millwood from the city is like entering another world for residents. Quiet roads are lined with forests and punctuated by scenic lakes and streams. The small town atmosphere makes it hard to remember that you are still so near to all the culture and opportunity that the city has to offer. This unique balance is the advantage that draws so many to homes in Westchester County… Read More.
Chantilly is an unincorporated community in the County of Fairfax, Virginia. This community had a total population of 23,039 based on 2010 Census. Approximately, this particular Virginian city is about 25 miles away from the urban area of Washington D.C. By this note, it can be surmised that the business activities in this area are really dynamic and robust. It has led to the fact that there are top Chantilly realtors, who are selling various types and models of houses. At the same time, they are helping those people who want to buy homes in this community. Generally, the real estate industry in this particular place is really progressing… Read More.
The vibrant Ballston submarket encompasses 24 million square feet of office space, characterized by high density and an amenity base that includes retail, hotels and multifamily product. Fairgate at Ballston is located a half mile from WRIT’s multifamily development at 650 N. Glebe Road.
WRIT is a self-administered, self-managed, equity real estate investment trust investing in income-producing properties in the greater Washington metro region. WRIT owns a diversified portfolio of 72 properties totaling approximately 9 million square feet of commercial space and 2,540 residential units, and land held for development. These 72 properties consist of 27 office properties… Read More.
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