Category Archives: DC Real Estate Investing

Why Is Deion Sanders Moving To A 600 Sq Ft House? (PHOTO & VIDEO)

deion-homeRe: Tiny Houses

NFL superstar “Neon Deion” Sanders used to live in a 29,000 Sq. Ft. mansion.  He sold it in 2014 and downsized to only 7,000 square feet.  But why in the world is he thinking about moving to a 600 sq. ft. tiny house?

In his words “I want to go tiny because I’ve been through huge and humongous and wanting everyone to know that I’m successful, but I’m past that,” Sanders explains. “Now it’s about needs, not wants.”

You can catch the longer story on the show “Tiny House Nation” on the FYI network.

If you watch the clip above you also learn that his mother and other relatives live with him. He then casually mentions that he wants some privacy when his girlfriend visits from L.A.

If you want more details you will find an article complete with a few more photos posted over on Realtor.com.

 Downsizing is a hot topic.

Downsizing may be a hot topic, especially considering the number of “tiny home” shows across the various cable networks.  BUT – with all things in real estate it’s important to get behind the headlines and take a look at exactly who we are talking about and what those people are really after.

I dug out a Trulia article from last year that we briefly touched on at one of our WREIA meetings.

One of the big things to focus in on is exactly who wants to downsize.  In short, the largest group who want to downsize, and only by a slim margin, are those who are living in a home over 3,200 sq. ft.  Neon Deion and his 29k mansion certainly fit in that size category.  But even he only “downsized” to his current home with only 7k sq. ft.

trulia-chart

Here in the DC area we have people who are very transient. We are going to see an influx of people from all around the country joining us with a turn in the Administration.  For many of those joining us from the NYC metro area the housing options are a major upsize compared to their Manhattan Condos.

My point is this – everyone has their own history.  They bring that history to the closing table.  When you buy a home as an investment – know who you plan to sell to.  Will your target market be downsizing, upsizing or maybe they don’t like labels and want a home they consider “rightsizing?”

For those of you who recently sold a house to someone who is upsizing or downsizing and want to share a story about your business – can you get in touch with me?  I would like to hear your story and maybe we can share any lessons learned with our WREIA members?

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Join us on Feb 13th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Let’s FOCUS and make 2017 a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. Interested in a lender or construction partner for your pending project? Yes, we do that. We lend to and partner with people all over the DC metro area. Call the office and lets set up a time to talk through or walk through your project.

Money for Deals @ Feb. 13, 2017 WREIA Meeting

One of the struggles that investors, especially new investors, face is their inability to fund a GOOD project.

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Let’s be clear on something.  If it’s a good deal – the money will be there IF you are looking in the right place.

That is a powerful statement that many people breeze past.

FIRST – FUNDAMENTALLY, it must be a good deal.  If your deal is too “thin”,  private money and hard money will run the other way – or even worse – will slow you down while they “review” the deal.

If you are trying to find money through friends and family, they might not know what a “good” deal actually is – and in most situations, working with friends and family – especially as lenders – can be a recipe for relationship disaster.

A short video about our next WREIA meeting in Bethesda where we will be talking about “Finding Money and Finding Deals” is posted here:

SECOND – The money will be there IF you are looking in the right place.

“Some people are crazy” is a blanket statement we all hear from time to time.  Well, let’s all be honest – that extends into business too.

It’s a fact of life that we all run into people who “rub us the wrong way”.  We think that one person may be terrific, while your good friend may have a different opinion of that same person.

A big reason we might  have a rewarding business relationship with one person and not another may be where we SOURCE that relationship.

At our monthly WREIA meetings we see a lot of people that become lasting friends based on their shared passion for real estate.  They may come from different ethnic, cultural, political or religious backgrounds, but because of their shared love of real estate, they have a deep common bond.

It’s a beautiful thing to see our WREIA members truly bonding – especially over shared success stories and even stories about their struggles.  Successful people WANT to help the person that is just getting started or facing an obstacle.  Our WREIA organization is full of successful investors.

When it comes to financing a property – if your source of funds comes from someone who is a great investor because they have a sizeable stock portfolio that could pose problems down the road.

Someone who has had success building a stock portfolio by trading stocks, but never held real estate, may not have the temperament for a six to 12 months renovation project.   You can’t liquidate a house by pushing a “sell” button.

Remember, this all hinges on that fact that a GOOD deal makes life much, much easier.  When you FIND a good deal, you can screw up in a lot of other parts of this business and still find success.

So – come on out to our WREIA meeting this month and join us as we discuss the process of finding a GOOD deal here in the DC area and marrying it to the RIGHT type of capital.

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

 

The Perfect Antidote To Blue Monday @ WREIA Tonight

Re: Blue Monday & WREIA Tonight

Have you heard of Blue Monday?

bluemonday

According to Wikipedia : Blue Monday is a name given to a day in January (typically the third Monday of the month) reported to be the most depressing day of the year.

Some people call it “pseudoscience” and others say there is something to this Blue Monday calculation.

At the end of the day – how you face the day is up to YOU.

If you think today will be a good day, or a bad day – YOU’RE RIGHT!

There are plenty of things going on in the world today, if we try hard enough we can find something to get us upset, angry or even depressed.

On the other hand it’s also pretty easy to find something that will make you laugh. You can do a TON OF LITTLE THINGS that will put you in a great mood. You can reach out and help a friend or simply pass on a smile. It’s pretty easy to MAKE any day a great day.

It’s up to you.

BUT – It takes just a little action on your part.

If you want to have some fun and laugh with some friends – you will experience that at WREIA tonight at our 2017 Kickoff meeting.

We are going to have some fun with a great group of people tonight at our first meeting of 2017. Sometimes in our business we have to ease up and not take ourselves so seriously.

Get 2017 started off on the right foot. Add our WREIA meeting to your “To Do” list for today. You will be happy you decided to join us tonight.

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Interested in a seat for Monday night or a WREIA Membership?

Save a few dollars and reserve your seat early.

Tremendous Savings and Additional
“Members Only” Perks for WREIA Members

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Join us tonight and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Focus and make 2017 a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. Interested in a lender or construction partner for your pending project? Yes, we do that. We lend to, and partner with, people all over the DC area. Call the office and set up a time so we can talk through or walk through your project.

Yes, You Can Exhume Pets In A Home Pet Cemetery

Re: Pet Cemeteries

Of all the renovation shows, few get the negative feedback that “Flipping Vegas” receives.

When I bring up the show to a few friends I heard these descriptive replies:

“I *&$#ing hate that show.”

“Garbage TV.”

“Unbearable.”

“It’s everything wrong with America today.”

Calm down a minute already. It’s not that bad.

When it comes to that “special type of acting required” for reality TV that we mentioned in our post about the Flip or Flop couple – well, this cast takes it to a whole new level.

“Overacting” might be a better way to describe the show.

Everything is a major catastrophe.

I did a quick search to find what the broader internet audience thinks of “Flipping Vegas” – I will spare you the bitterness. Let’s just say the feedback amongst my flipping friends was not far off the internet consensus.

Here is a clip from the Cat House episode where Scott Yancey talks about “hemorrhaging” money. (As he does on every episode.)

You get a taste of his special type of acting skills.

However – if you watch the episode you will also find a take-a-way from the episode. My discovery was that it is possible to respectfully deal with a previous owners love of their pets.

Specifically, dealing with a home-made pet cemetery.

I am a pet lover. I grew up with pets. I have owned pets. I think they are valuable and can help teach our kids responsibility and compassion.

That said – the previous owner of the “Cat House” obviously took things too far.

That house was really in bad shape. When you have to remove up to 4 feet of drywall from the pet “debris” – things have gotten out of control.

For a few hundred dollars they had a local “licensed” professional deal with the remains of the few cats buried and memorialized in the back yard.

Now, after a thousand renovations, I have seen pet memorials on properties.  Numerous times.  We usually just ask the previous owners if they have a desire for the memorial if we thought there might be any value. Otherwise, we have been reluctant to due much of anything.

Now I know it is actually possible to exhume the remains and have them properly cremated. Which perhaps is safer for the environment and respectful as well.

Maybe this was a little gory topic for the weekend? Maybe. But now you are equipped with something to talk about that doesn’t involve the weather.

weather

or the playoffs…..
playoffs
or Tarek and Christinas’ divorce.
flipflop
Here is to a great weekend. I hope to see you Monday evening at WREIA.

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Interested in a seat for Monday night or a WREIA Membership?

Save a few dollars and reserve your seat early.

Tremendous Savings and Additional
“Members Only” Perks for WREIA Members

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Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Focus and make 2017 a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. Interested in a lender or construction partner for your pending project? Yes, we do that. We lend to, and partner with, people all over the DC area. Call the office and set up a time so we can talk through or walk through your project.

VIDEO – Jan. 16th Washington REIA Network Meeting Details & Invitation

moco-johnprop-1-11

Catch a few minutes with me on the back porch at our latest renovation in Montgomery County, MD.

You can catch a few details about the upcoming Jan. 16 2017 Kickoff Meeting.

Come on out Monday and join me and dozens of other active investors here in the DC area.

It’s a great opportunity to network and get to know some active investors, agents, brokers and other service professionals active in the DC metro area.

See you on Monday, Jan. 16th in Bethesda!

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

HGTV “Flip or Flop” Star Files for Divorce

flip-or-flop-coverRe: HGTV Reality TV

These story lines are hard to keep up with – they move so fast.

This morning it was announced on People.com that the star of Flip or Flop has filed for divorce.

A few days ago, we all read “The couple has no imminent plans for divorce.”

Isn’t life like that sometimes?  Changes from one moment to the next?

But for the reality tv couple, Tarek and Christina El Moussa, their many obstacles over the last few years has finally taken a toll on their marriage.

A friend of mine is always reminding me “You never know what is going on behind the closed doors of your friends and neighbors.”

By all accounts, it would appear that the stars of one of HGTV’s top shows were leading a happy successful life.  As we have learned, it’s not quite the case.

We see it all the time when dealing with distressed real estate.  Sometimes the distress is very evident with the condition of the home.  On other occasions the distress is more wrapped up in a personal situation that isn’t evident from the curb.

I have always been skeptical about these “reality” tv flipping shows. However, a few lines in the recent issue of People stood out to me:

“While Christina would be on board for plotlines that producers came up with like freaking out over the wrong tile being delivered or finding a dead rodent in the corner, Tarek was always more reluctant,” says the source.
Tarek would also “balk at the special brand of “acting” required of a reality star.”
People Dec. 26 Issue, page 58 for those who still have it laying around, or might find the issue it at the doctors office.

Plotlines?

Special brand of acting?

A few people are still surprised to find out that these shows are in fact staged productions.

It’s entertainment.

People watch a lot of this type of Reality TV to escape their own reality.

Sure, some people watch it for the “educational” value that you might find.

Personally, I did not find a lot of educational value in “Nicole and Jionni’s Shore Flip”.

Nicole-and-Jionnis-Shore-Flip

I only caught a short few minutes over the last few weeks.  That was all I needed. Obviously, the focus was on the entertainment factor – not the flipping factor.

I watched a few different shows over the winter break while I was prepping for WREIA this Monday night.  When I hit this Shore Flip show, I had to draw the line.  Luckily, a few minutes into the show I got a call about one of my own properties and it was time to get back to my own “reality.”

I was just told yesterday the young couple made a profit on their Shore Flip property – so good for them. Tarek and Christina seem to make outrageous profits on all their flips – if you believe the last few moments of each episode.
Let’s wrap this up – I believe its a sad statement on our society when magazines and other media make a small fortune promoting and nearly celebrating the end of a marriage.

Divorce is never easy and I think we should be aware that Tarek and Christina are likely going through a really rough spot in their lives.  As much as possible, we should respect that and certainly not celebrate their struggles.

That said – All the time we spend watching some of these flip shows doesn’t need to be entirely futile.

At WREIA next Monday evening I want to share a few things I noticed about these shows, and point out some key points that will actually help you in your business.

Monday at WREIA will be an entertaining way to start off the new year.

Let’s get this 2017 Renovation Party started!

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Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.
Focus and make 2017 a great year for your business!
Let me know how I can help you,
John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S.  Interested in a lender or construction partner for your pending project?  Yes, we do that.  We lend to and partner with people all over the DC area.  Call the office and lets set up a time to talk through or walk through your project.

Is Reality TV Real?

hgtv
Re: HGTV Reality TV

First up – Happy New Year!

Did you take a few days or weeks to unwind a bit?  Are you ready to tackle the new year?

Personally, I could use a few more days of unwinding – but the calendar (and the bank account) says it’s time to get back to work.

Thank you to all the WREIA members who joined us for the “Members Only” event in December.  We had a good time together, and I really enjoyed the feedback.

Now – it’s time for all of us to start executing the 2017 game plan.

Top of the TO-DO LIST – Plan to join us on Jan. 16th for the WREIA 2017 Kickoff meeting.  We are going to have a little fun bouncing ideas based off the top HGTV shows.

Like some of you, I spent a “little” time over the break binge watching some of my favorite renovation shows.

Some of these shows just made me laugh with their drama and lack of details.  But a few actually had some key points I want to share with you.

More on that over the next few days.

For now, dust off that winter coat and break out the winter boots.   We have a few weeks of cold ahead of us – but it’s no reason to curb your enthusiasm for the year ahead.

What do you say we get together on the 16th and start executing the 2017 plan together?

I am convinced we have the best group of WREIA members in the DC area.

Let’s get this 2017 Renovation Party started!

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Join us on Jan. 16th and expand your belief that other people are out with me right here in the DC area making money in Real Estate.
Focus and make 2017 a great year for your business!
Let me know how I can help you,
John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S.  Interested in a lender or construction partner for your pending project?  Yes, we do that.  We lend to and partner with people all over the DC area.  Call the office and lets set up a time to talk through or walk through your project.

Your Five Closest Friends – LINK

A Special WREIA Members Only Event
Re: Your 5 Closest Friends

On Thursday, December 8th at the Pike & Rose La Madeleine Restaurant, we will have a special room set aside for our WREIA members.

As I scroll down through the list of our current WREIA members, I consider it an honor just how many of these people I count as my friends.

For some of our members the friends they have met at our monthly meetings and other WREIA members have played a huge role in their success.

There was an article a couple years ago in Entrepreneur magazine titled “Why the Five People Around You Are Crucial to Your Success”

One of the standout lines in the article jumps off the page just a few paragraphs in:

“It all proves that the company that a businessperson keeps can have a profound effect on him or her and subsequently the success of a business. ”

entreart

If you spend the estimated 4 minutes to read the article you will probably pick up a few more “nuggets” that will leave a positive impression on your day.

The bottom line is – Your friends matter.  Make sure they are motivating you.  Make sure they are bringing out the best in you.

Do you want to surround yourself with the right people in 2017?

Do you want to expand your network with the right people in 2017?

Do you need that slight edge that might nudge you ahead of your competition?

As it says in the article above – you could be one epiphany away from a renewed excitement in your business.

I invite you to join us for some top tier networking tomorrow at our WREIA “Members Only” event.

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Join us and expand your belief that other people are here with me in the DC area making money in Real Estate.
Make 2017 a great year for your business!
Let me know how I can help you,
John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

P.S. We are still closing “partner” deals in December.  Interested in or need a lender or construction partner for your pending project?  Yes, we do that. Call the office and lets set up a time to talk through or walk through your project.

“I Can’t Believe Trump Will Be President” – My Response

kitten
Re: Mr. Trump as President

I’ve noticed two very similar responses to the outcome of our election.

“I can’t believe Trump is going to be President.”  This is followed by shock, disappointment and some shaking of the head.

vs.

“I can’t believe Trump is going to be President!” Usually a little reserved excitement but also with some shock embedded in the comment.

We were told for weeks and months that we would have Ms. Clinton as our sure thing next President. Quite simply – I am as surprised as you are.

But it’s not keeping me awake at night.

My response whether your are disappointed or excited is something like this:

“You know, I have been an investor for over 20 years.   You know the one thing I have noticed that people need whether there is a republican or a democrat in the White House?”

“A place to live.”

It’s really pretty simple.  You can get all worked up.

You can get disappointed or excited, and lose your focus over one person.

Or you can get out there and start working.

You can help supply a basic human need no matter where you are in the world.

Housing.

Find a neighborhood where people want to live.

Look for a house that needs to be fixed up.

Make a sensible offer.

Fix up the house and sell it for a profit.

That is very oversimplified – but you get the idea.

This next statement might come as a shock to you if you are really worked up with disappointment or excitement.  I don’t want to be rude, but someone needs to point this out to you.

The person who sits in the house on Pennsylvania Ave. will likely never know about you and your single family home or condo flip.

That person has never been the reason I have spent a career finding, fixing and selling homes.

I have done it for my family.

Helping other families live in a safe home as a result of my renovations has been extremely rewarding.  Teaching and leading our DC WREIA group and mentoring other investors has given me a great deal of satisfaction as well.

Speaking of WREIA….

Our last WREIA meeting of the year is this Monday – Nov. 14th.

It’s a year end wrap-up meeting and will include a few actionable items to help you focus.

Wrap up 2016 and launch yourself down the right path in 2017 with our 60 day action guide.

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Joining us at WREIA in November?Save a few dollars and reserve your seat early.

Join us for the food, the network, the learning and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

It’s not too early to prepare for a great 2017. Make it a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder

Would You Like A Peek At My Pipeline?

tunnel
Re: Magic Bullet Question

A few people that I am working with are so close. They are just at the edge of a good deal.

I realized yesterday that each of them has asked a very similar question along the way.

In every industry there is a famous question that everyone seems to ask – especially when we are learning something new:

“If you had to pick just one thing to have the greatest effect, what would it be?”

As mentors we refer to it as the “magic bullet question”.

Deep down, we all know that there is never “one thing” that will bring us success in our business. If there was, we would all do it.

As proof of this “never one thing” I am going to share some of the inner workings of my business Monday night at our WREIA meeting.

You will have a chance at our October WREIA meeting to peek at 1/2 a dozen or so leads that are working their way through my pipeline.

Most of these are not closed deals. I haven’t renovated them. There are no before and after photos. This is what those properties look like before all of that.

These are what profitable closed properties look like when they are just an introductory phone call.

I am going to share why the people called, emailed or texted me about the property.

I think you are going to be surprised at the variety of ways a lead can originate.

If you listen carefully on Monday night – you will pick up a strategy that you could implement and focus on over the next 90 days that would have a dramatic impact on your business.

We will talk about and focus on a variety of properties:

  • Townhouse in Laurel
  • Single Family Home in Takoma Park
  • 2 Houses in PG County
  • House in VA
  • ….. and a few more.

If you want to understand the process of generating leads that ultimately ends with closed transactions – this is the night for you.

I enjoy all of our WREIA meetings and especially look forward to this Monday night.

If you want to dive deep on this topic of “Generating Leads”, join us at WREIA this Monday.

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 Joining us at WREIA in October?

Save a few dollars and reserve your seat early.

 Reserve your seat for the Oct. 17th, 2016 WREIA meeting here.

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Join us for the food, the network, the learning and expand your belief that other people are out with me right here in the DC area making money in Real Estate.

Make this year a great year for your business!

Let me know how I can help you,

John Peterson
301-881-5541
Washington REIA Network, President
Profitable Property, Founder