VA Property For Sale…. Only $21 Million.

The current owner, a recent widow, is placing her home on the market to move back to McLean and spend more time with her family.

If the 6 BR aren’t quite enough for you, there is a 3 Bedroom 2 Bathroom stone cottage for guests.

At 21M, the price may be a little high, but don’t let that stop you – that’s just the asking price.  If you would like to place an offer on the property, I would be happy to help. Perhaps you could request the property be approved for section 8 housing….. though I’m not sure the rental vouchers would cover your mortgage payment – and doubtful they would even cover your property taxes.

You can find more photos and the entire article at
http://online.wsj.com/article/SB10001424127887323826704578356692293784034.html

As for our topic at WREIA on Monday – we are talking about Section 8 Housing. Unless you currently have rentals in the area and already know a lot about Section 8, this is one WREIA meeting you will definitely want to attend.

There are nearly 100 different apartment complexes that have been approved for the Section 8 Program in DC.  However, there are hundreds of other private residences which also house people through the Section 8 housing choice voucher program.

We are going to talk about some of the myths and mysteries of Section 8 this month, and I am sure you have some questions…..

When we bring up discussions about Section 8 programs, we sometimes hear questions like;

  • Are Section 8 tenants going to wreck my property? (We hear this a lot.)
  • Is Section 8 going bankrupt, or will it lose funding?
  • Who actually pays me each month?
  • Are the tenants paying anything toward rent, or is it all paid for by the government?
  • Will my tenants have a job, or is everyone in Section 8 housing unemployed?
  • How much will I collect, and will it be near what I can expect as a “regular” rental?
  • Will I have to chase down my tenants for their rent money each month?
  • …. and more.

Join us this Monday at WREIA and learn from people who are current landlords and provide housing via the Section 8 housing program in the DC area and beyond.

****
Spring is coming – come join us and find what other members are doing
to generate leads, get to closing on their deals,
and make a profit along the way.
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Make plans to join us before it’s too late.  You can find the registration page at http://wreia-march2013-wreia.eventbrite.com

John Peterson

301-881-5541
Washington REIA Network, President

Profitable Property, FounderP.S.   When we launched the “March To 100” campaign last month, some of you were a little confused.  Others of you realized what we are doing, and have already cashed a check.  If you want a few more details about the campaign, and the types of properties we are buying with the sole plan to place them in a rental portfolio, come join us Monday.  We are going to be sharing more details at Mondays meeting.

P.S We are doing projects all over the Metro DC area!  If you need an active finance partner in the Washington DC area, we have been expanding our capital base and now have all the funds you could ever need to help you with your deals.   You can request a funding letter or share details on your property at http://dchardmoneylender.com/quick-property-submit/     

Interviewing New Tenants

As a landlord in the DC area you get to meet all types of families from around the world.  Providing housing to people can at times be entertaining, and reminds me of an old joke we have been telling for years.

I was showing a unit to prospective tenants and asking the usual questions:

“Professionally employed?” “We’re a military family,” the wife answered.

“Children?” “Yes, nine and twelve,” she told me proudly.

“Animals?” “Oh, no,” she said earnestly. “They’re very well behaved.”

The great thing about being a landlord in the DC area is the strong rental market.  On the flip side, DC seems to be a very transient market with people moving in or out of the area on a regular basis.

Interviewing new tenants can be nerve-wracking when you are first getting started.  Join us on March 18th and learn about the various things DC area landlords are doing to make the application process easier, and creating more profitable tenant relationships.

You can register for the March WREIA meeting at http://wreia-march2013-wreia.eventbrite.com

Let me know if there is anything I can do to help you in your real estate success,

John Peterson

301-881-5541
Washington REIA Network, President