CityDwellers' investment club, iClub, is in search of the next investment property to renovate. This week, we toured 10 properties. We placed offers on 5. iClub will not consider a property unless it believes it will make at least $100,000 or more. If you would like an IPM to help you or your investment group invest in real estate, contact us at ipm@citydwellers.us. Here is a video of one of our favorite prospects off the 16th Street Gold Coast:
$$$$$ REFERRALS PAID $$$$
IF YOU KNOW OF ANYONE IN NEED OF A QUICK SALE, FACING FORECLOSURE, AN ESTATE, OR WITH A PROPERTY IN NEED OF DIRE REPAIR E-MAIL iclub@citydwellers.us or contact through DCQuickSale.com
Saturday, July 18, 2009
Friday, July 17, 2009
Case Study 1: H Street Corridor with $385,000 Equity
We will post Case Studies so our subscribers can see the type of opportunities we give our clients first hand:
This house was a fire damaged house a half-block north of H St, DC's hottest new corridor. The City broke ground this summer to construct a trolley/street car line on H Street from Union Station to RFK Stadium (to be completed Summer 2011). We kept this trolley project in mind as we made the offer on the property for $200,000.
The house sold in March 2009 for $585,000. That allowed for $385,000 equity to pay construction costs, loan fees, selling costs and carrying costs. Most investors would expect to walk away with at least $100,000 from a project like this. Here are the after pictures:
This house was a fire damaged house a half-block north of H St, DC's hottest new corridor. The City broke ground this summer to construct a trolley/street car line on H Street from Union Station to RFK Stadium (to be completed Summer 2011). We kept this trolley project in mind as we made the offer on the property for $200,000.
The house sold in March 2009 for $585,000. That allowed for $385,000 equity to pay construction costs, loan fees, selling costs and carrying costs. Most investors would expect to walk away with at least $100,000 from a project like this. Here are the after pictures:
Saturday, July 11, 2009
From Good to Great
After recently reading the business classic, Good to Great by Jim Collins, we decided to exploit our core business--our Investment Property Matchmakers (TM) division. The book says:
You must find the connection between these 3 concepts to become Great:
1. What you CAN be Best in the World At (this must be your core business)
2. What drives your Economic Engine (what action do you perform that has the greatest impact?)
3. What are you Deeply Passionate about?
For CityDwellers Real Estate (our Real Estate company), it is to continue to be an IPM. We believe that we are the best in Washington, DC at what we do (if not the world), helping investors drives our business, and we are deeply passionate about real estate investing.
We have done it all with real estate investing. We've purchased, sold, leased, furnished, renovated, flipped, wholesaled, advised, appraised, consulted, and the list goes on. Investing in real estate is our life, and we're the best at it. The only thing we hadn't done is start an investment group. Now we have our iClub, where we pool together money and resources to purchase, renovate, and sell properties. Membership is available to investors by application only. E-mail iclub@citydwellers.us for more info...
Welcome. Now, what is an IPM?
IPM stands for Investment Property Matchmaker (TM), and that's what we are! We chose to go with "I Love My IPM" because our clients love us! We play an essential role in helping our clients' LONELY INVESTMENT PORTFOLIOS find TRUE LOVE by finding properties that match their lifestyle and goals. Aahh... Love at first sight...
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