If you have been driving around the DC area lately you have probably seen the signs, balloons, flags, or even those tall squiggly characters that flap all over the place. They are out in front of nearly every apartment building trying to get your attention and advertising the phone number or website you can visit for more details about the location.
But did you ever stop to think just how many rental units there are in our area?
I went to Apartments.com early this morning and found this –
It’s important to understand the rental market when you are in our business. Apartments.com is one of the easiest ways to gauge the price points of the market in the area where you do business.
Downtown near Metro Center is full of luxury apartments. They can generate up to 5k a month, sometimes more, in rental income.
When I got started over 20 years ago, someone paying $5,000 a month to RENT an apartment was unheard of. Today it’s pretty common.
Our area has changed. Not just in 20 years, but in the last 5 years.
Luxury has crept into our market and is here to stay.
Maybe that’s your market? Downtown, luxury, high end.
Maybe it’s not.
Maybe you’re like me and stick to the bread and butter entry and mid-level homes and townhomes that the vast majority of BUYERS are looking to buy.
Which one is better?
The answer is – whichever market you focus on and that you best understand.
If you currently rent an apartment downtown for 3,4 or 5k a month and are interested in the same market as an INVESTOR you can certainly make it work.
That luxury market is much smaller than the rest of the market, but you can be profitable in that segment of the market.
I like to focus where 80% of the people in our area can afford to live. That market in our area – the 200-500k townhome and single family homes – makes up the bulk of our broader DC area market.
If you are doing your job right as a renovator, fix-and-flipper, landlord or even as an agent for other investors, you probably come across apartment buildings a few times a year that are poorly managed. The units are run-down, the neighborhood might even be a little scary to be around as night approaches.
What do you do with that knowledge?
Maybe when you are researching probate properties or divorce records you come across a small apartment building that is listed as part of the assets.
Do you know how to properly analyze and make an offer on those properties?
Think about this as you are driving into Bethesda for our WREIA meeting this coming Monday:
As of this morning – here are the number of apartments for rent in Bethesda –
Over 1,000 different apartments are available in the Bethesda area alone!
Could you use what you are already doing to find a few deals a year? Shoot, I think you could use this knowledge to find a few properties over the next 5 years that could be life-changing for your financial future.
Take what you already know about our business and use it to find 10, 20, or even 50 unit buildings.
Take action and register for the upcoming January WREIA meeting. It very well might change your life.
Rental income from just one property can change your life. Rental income from multiple properties has an even bigger effect on your financial well being.
Our speaker this month went from zero rental properties to over 4,000 units using a method that you can duplicate.
There are over 320 Million people living in the United States. They all need somewhere to live and you can help provide that housing. More importantly, you can get paid to provide that housing. If you do it well, you will be paid well for doing it.
Set aside the evening of Monday, January 21st and plan to be with us at WREIA.
I have a feeling it’s going to be a good crowd of people but I know the speaker is someone you need to hear from. What he has to share with you could make a huge difference in your financial life over the next few years.
Where you FOCUS will have a huge impact on how frustrated you are in 2019. Too many people keep trying to learn our business from free YouTube videos done by people who may or may not have actual success.
Join us at WREIA this month and you can learn from a REAL PERSON having REAL SUCCESS in Real Estate.
Happy New Year and see you soon!
John Peterson
Founder, Washington Real Estate Investors Association
Remember – If you do nothing or continue to do the same tactics as last year, nothing will change. You need to add CASH FLOW to your mix to really make a difference in your financial life.
I have not seen some of you for a long time.
January is a great time to kick off the New Year with energy and networking. Come join us for this special speaker and reconnect with our community. We would love to have you and see what you have been doing this past year.