BPG Residential currently has a client who is looking for their first small multifamily investment property in Washington, DC. This is their first plunge into the multifamily investment world. This isn't going to be an article evaluating CAP rates, "predicting" IRR or equity multiples, or aimed at people like myself, who are looking to raise capital to syndicate larger real estate purchases. These suggestions are for individuals, just like our client, who want to build long-term generational wealth for their families and believe that Washington, DC real estate is the key. Not to mention, they should have around $100,000 to $200,000 to invest personally.
Right now, there is a program that I've personally used twice that allows you to buy an investment property with 15% down. You must buy this property in your personal name (no LLCs) and can't raise the capital for the down payment, meaning you have to use your hard-earned money. If you'd like the connection to the lender that has this program, reach out to us and we will connect you.
Here are five options that I believe are great entry price points, locations, and have some sort of value-add proposition over the long term.
531 Harvard St. NW Washington DC
-Columbia Heights
-Duplex
-List Price: $850,000
42 O St. NW Washington, DC
-Truxton Circle
-Duplex
-List Price: $725,000
521 17th ST. NE Washington DC
-Kingman Park
-Quadplex
-List Price: $1,079,000
4006 Kansas Ave. NW Washington DC
-Petworth
-Quadplex
-List Price: $1,150,000
3014 Warder St. NW Washington DC
-Petworth
-Duplex
-List Price: $775,000
All of these options have different high and low points, but in the end, they are great entry options for newer investors looking to build their portfolios. We help investors like this on a weekly basis change their families' lives forever. Reach out to BPG if you'd like to start or continue your investment journey.
Happy investing!
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