Hello everyone, I have been stationed in DC with the military and would like to buy up to a tri-plex as a first time property, living in one of them. I only have 10 days in the hotel so can anyone give advice on how to find foreclosures like this in the area? If any investors live here I’d be willing to pay for help. All help is greatly appreciated.
David
If you have 2 months to find a place to live, don’t bother with foreclosures in DC. The eviction process to get the current tenants and/or owner out (so you could have one of the apartments for yourself) can easily take a year in DC.
VA is the only local jurisdiction where you’d have a chance of being in within 2 months, and I’ve yet to see any multiple-housing properties in the listings, and I’ve been watching them since September.
Of course if dholland3 can find one the owner lives in then it would be an easy transition. And I have 120 units on the eastern shore of VA which the eviction time is 3 months most of the time. It seems that the court systems are a little over worked but it is still a landlord friendly state.
You could always get a list of Apartments and cold call them. You may find that you could find an excellent deal on other multi unit properties.
I disagree. If the former owner doesn’t move out on his own, he must be evicted, and in DC, that is a lengthy process. Just because it SHOULD be an easy transition doesn’t mean it WOULD be an easy transition, and with 2 months FROM NOW, I wouldn’t bank on it happening.
VA laws and DC laws are dramatically different. The same rules – including timelines – do not apply.
Thanks for the advice so far…but I only have about 10 days to find a place not 2 months!
How do I get a list of apartments I can cold call? Does anyone live in Arlington area who could help? Thanks everyone.
David