Investing In Washington Dcs Rental Market
Washington, D.C., which borders both Virginia and , offers plenty of opportunity for investors regardless of their investment strategy. The D.C./Northern Virginia area has seen a slight increase in available inventory in recent months, but the market is still extraordinarily tight. Given the lack of inventory, it hasnt been uncommon to see most D.C. listings sell within a week or two and for well over the asking price. In June 2021, new listings were up 36% from 2020, but the total supply of homes for sale was still down 9%.
The market still hasnt settled back down to pre-pandemic levels, which makes it harder for homebuyers with more limited budgets who cant afford to offer above asking price or pay in cash. Because of rising home prices, younger people are opting to rent rather than buy, which is good news for Washington DC real estate investors.
D.C.s apartment rental market was upended by the COVID-19 pandemic as vacancies soared and rental rates plummeted. Now, those renters have returned to the D.C. area, and the citys rental activity stats show how popular the area is. Washington D.C.s rental market currently ranks fifth for increase in overall rental activity in the first half of 2021 thanks to a spike of 41% over the first half of 2020. Most of those renters are Gen Z adults and high-earning Millennials. Rental applications from Gen Z adults increased 92% YOY.
Corban Tomlinson Managing Director
Corban Tomlinson is a Managing Director and Co-Founder of Georgetown Partners. Prior to forming Georgetown Partners, Corban was Director of Acquisitions for Maplewood Healthcare and Allegiance Realty Corporation . There, he sourced, underwrote and structured acquisition and development of conventional and medical office opportunities. His experience included opportunistic, value-add and core-plus/stabilized opportunities. Deals were sourced both on and off market and were creatively structured and financed to best suit the needs of small businesses, private healthcare practices, national and credit tenancy. Corban was also responsible for the project and portfolio level financial analysis, budgeting and business strategy at the firm. At Allegiance/Maplewood, Corban was involved in the acquisition of over $100 million of conventional office and other real estate assets and the development of over 250,000 square feet of medical office assets.
Corban is a 2018 Level II Candidate in the CFA Program and holds a bachelors degree from the University of San Diego, where he double majored in Real Estate and Finance.
Best Places To Invest In Real Estate In Washington Dc
1. Adams Morgan2. Dupont Circle 3. Foggy Bottom4. Navy Yard 5. Columbia Heights
An investment property not only provides you with a reliable way to generate a supplemental monthly income, but its also a great way to invest money. If youre looking to invest in real estate property, the hot market that is Washington D.C. is an almost sure-fire way to generate some extra cash. And, if youre a newer investor or even a seasoned landlord looking to expand your portfolio, our Ultimate Guide to Real Estate Investing can help you make your next big move.
Investing in Washington D.C. does come with a larger than average price tag. In January of this year, the median sale price of a home was around $639.3K. On average, homes went for $40K over asking. While this may seem high, as of last year, the demand for rental properties in the city has increased, and the average rent for a home was around $1,600-$2,400 a month.
In 2020, the rental vacancy rate in Washington DC was approximately 8.2%. In the fourth quarter of 2021, the United States had a national rental vacancy rate of 5.6%, a downward trend from the start of the year. With businesses returning to in-person work in 2022, one can anticipate that the demand for rental housing in the D.C. area will increase.
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Top Commercial Real Estate Companies In Washington Dc
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They want to make sure that Im happy throughout our engagements.
“Working with their team was one of the best decisions I made all year.”
“The communication was definitely effective, quick, and professional.”
The Society of Industrial and Office Realtors is the leading global professional office and industrial real estate association. With more than 3,200 members in 686
DC full-service commercial real estate company
Undisclosed80% Commercial Development20% Commercial Financing, Funding, & Investment
Akridge is a full-service commercial real estate company and a prominent investor and developer in the Washington, DC region. We invest in, develop, and manage commercial real estate, from office
Rappaport is a trusted and well respected real estate firm with a specialization in Washington, D.C. regions retail sector. We manage and lease properties owned by Rappaport, institutions, families
J Street Companies offers expertise in real estate services, including commercial and residential property management, project management, leasing, investment sales and services, and fee development
The World Is Changing And Thats A Good Thing
Standard Real Estate Investments is founded on the belief that those who help deliver a better world will see better financial returns. Join us as we drive the change we want to see.
We are a minority-owned and controlled real estate private equity firm that manages capital on behalf of institutions and specializes in real estate development investments. We operate nationally, across property sectors and risk profiles, with a focus on making return-seeking investments in real estate projects that are sponsored by diverse or women developers and/or are in service of diverse communities.
Standard Real Estate Investments, LP
Los Angeles Office | 6121 Sunset Boulevard, Los Angeles, California 90028 Washington DC Office | 655 New York Avenue NW, Washington, D.C. 20001Phone: +1 310 651 3220 | Email: investors@standardrei.com
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Looking To Participate In The Dc Real Estate Market See How We Can Help You Earn Solid Returns
Being one of Washingtons premier real estate investment firms we run across a lot of great investment property deals in Washington and around DC. Our Early Alert Property Buyers list gets first access to DC investment properties for sale before we list them on our website.
Also, we work with qualified local investors who want to leverage real estate to help you diversify your portfolio and earn solid returns. From buying Washington rental properties from us to joint venturing with us on real estate projects to debt investors looking for a consistent return we have options that you may be interested in.
If youre interested in learning more about ways we can work together dont hesitate to contact us today.
Can A Real Estate Lawyer Represent The Buyer And Seller
Generally speaking, no, because the seller and buyer have different priorities when it comes to a home sale, and some of those interests conflict. States have specific laws governing whether or not a real estate lawyer can represent the buyer and seller, and if this does happen, there’s often a waiver that has to be signed by both parties acknowledging a conflict exists. States may have different names for a document like this, but it’s usually called a Conflict Waiver. Acceptable exceptions for using the same real estate lawyer might include a property being transferred from one family member to another, such as a father to his son.
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Do You Need A Lawyer To Sell Land
Technically, no, you don’t need a lawyer to sell land, but there are some situations when it might be a good idea. You might consider hiring an attorney if you are faced with existing boundary disputes, involved in a sale of land that’s partially wetland, or in circumstances concerning tax issues. Specific laws related to land vary by state, but one potential issue is the tax rate, which can differ depending on whether the land can have structures built on it.
Washingtondc Is Growing & In Need Of Housing
Washington, D.C. is recovering well post-COVID. The citys real estate experienced some ups and downs during the pandemic, but there are many factors showing a road to recovery.
The D.C. area continues to benefit from a stronger job market compared to other large cities in the U.S. Yardi Matrix data shows the strongest growth among apartment applications in the first half of 2021 were among those earning between $50,000 and $75,000, up 62% from the same period a year ago. istics shows that D.C.s unemployment rate has dropped to 6.5%. D.C.s unemployment rate has dropped a total of 1.2% since March 2021. Additionally, data from the U.S. Bureau of Labor Statistics shows that Marylands unemployment rate fell to 5.9% in August while Virginias fell to 4%.
The District of Columbia is surrounded by some of the largest and most popular cities in Maryland and Northern Virginia, which has helped spur growth in D.C. Marylands Department of Labor announced in September that the state had gained 11,900 jobs in August, for a total of 65,900 jobs in 2021. Northern Virginia has also seen positive job growth. From July 2020 to July 2021, the region has seen an increase of 70,800 jobs making the area responsible for nearly 50% of the 143,800 jobs gained statewide during that time frame.
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Top Real Estate Companies In Washington Dc Area
Ready to find a new job at a top Real Estate company near you? View the highest rated Real Estate companies hiring near you in Washington, DC Area, then check out their Glassdoor profile to read employee reviews and find information on benefits, salaries, and job openings. Employee reviews on Glassdoor are anonymous to help ensure you get a candid look at what a company is like before you apply.
Top-rated Real Estate companies hiring near Washington, DC Area include JLL with an employee rating of 3.9 out of 5, CBRE rated 3.9 out of 5, Bozzuto with a rating of 4.2 out of 5, Keller Williams with a 4.3 out of 5, and Cushman & Wakefield rated 3.8 out of 5 by employees. To discover additional Real Estate companies hiring near you in Washington, DC Area or view more unique results, filter your results by location, job title, job function, rating, and company size.
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Rental Vacancies Are Down But Monthly Rents Are Up
When the pandemic began, renters in downtown urban apartments led to a mass exodus into the suburbs. The theory behind the increase of renters leaving downtown areas is that with the ability to work from home, there was no longer a need to pay the high cost of living to reside in these areas.
In large cities across the country, the pandemic caused an explosion in rental vacancies. Now that people are moving back to city centers, rental vacancies are down, and rental prices are going back up. For example, occupancy in D.C. has increased slightly from 94.2% to 94.6% YOY, which indicates a strong rental market. Apartment List also shows that the average monthly rent in D.C. fell about 15% during the pandemic. Since January, it has risen 11%.
This is all good news for real estate investors. Despite increases in rent prices, individuals and families alike are returning to the city once again and signing apartment leases, which creates income for multifamily property investors who own those buildings.
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Home Quest Investments Helps Solve Your Real Estate And Investment Problems With Innovative Solutions
We provide honest solutions for DC investment property sellers who need to sell fast and investors looking to grow their real estate investment portfolios for better returns.
Home Quest Investments is one of Washingtons top real estate investing groups because we focus on doing things right. We specialize in buying distressed properties and working with property sellers who just cant sell the traditional route through a real estate agent.
A big passion of ours is helping to be a part of beautifying the communities we work in by helping people get out of tough real estate situations by buying your unwanted house. Then we work with others in the area to repair the house and get new home owners into each property we work on.
Washington Dc Multifamily Rental Market Stats
- The average sales price per unit is $255,758 and ranks 15th of 98 markets in price.
- Nearly 26,000 new multifamily units are projected to be completed by June 2022.
- The average rental price of multifamily units is $1,890 a 5% increase YOY.
- Currently, D.C. ranks 2nd out of 98 nationwide markets in multifamily development activity.
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How Much Does A Closing Attorney Cost
Some states require a closing attorney, while others deem it optional. The cost of hiring a closing attorney varies widely by the state and law firm you choose. You can expect to pay between $2,500 and $3,000 for a simple buy/sell transaction, but keep in mind that this cost is likely to vary depending on your location and the complexities of the closing.
Track Record Investment Funds
In Center Creek Housing Fund I we proved that single-family rentals can be bought, renovated, and managed effectively in an institutional manner, and delivered strong returns to our investors. CCHFI built a portfolio of SFR in Jacksonville FL, and provided a 14.2% net IRR to our investors*. Moreover, 100% of CCHFIs rental units were affordable to residents at 80% of Area Median Income . Center Creek wound down CCHFI in April 2019.
Center Creek Richmond was created to demonstrate proof-of-concept while building our capability to renovate distressed properties and develop new infill properties for first-time home-buyers. CCRI successfully proved the market opportunity and Center Creeks ability to perform and is currently in wind-down mode after laying the foundation for Center Creek Richmond II.
*Pro Forma returns adjusted for the fee structure of CCHFII
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Great Fixer Upper Property Deals In Washington For Local Investors
We also come across many distressed single-family Washington, DC properties because of our relationships in the market and secure those properties at substantial discounts. Many people call these properties fixer uppers or handyman specials. Because of our very effective marketing programs, were able to get investment property deals in Washington that most other investors never even hear about. We pass those savings along to our investor buyers on our VIP Property Deals list.
If youre interested in buying Washington and DC investment properties at steep discounts whether you plan to buy and hold as a rental property or fix the property up and resell it join our VIP Property Deals list today to get an email when we secure new properties that fit what youre looking for.
Get Access To Our Property Alerts And Current Discount Handyman Property Deals.
What Can We Do To Help You
Whether you’re brand new to real estate investing, or already have an investment portfolio, DC Invest LLC provides a wide variety of services and tools to take your investment game to the next level. Learn more about how we can help you:
Real Estate Investing Courses
Free Resources: Videos, Radio Show, Blog, etc.
Finding Viable Properties to Invest In
We also offer services to help you throughout the entire deal life cycle including:
Obtaining Plans and Permits
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Need To Sell Your Dc House Fast We Buy Houses In And Around Washington And Throughout Dc See How
We buy houses Washington DC for cash and have the ability to close quickly as quickly as 7 days if you need us to. At Home Quest Investments, we are a serious wholesale cash buyer that pays you a fair purchase price, requires no appraisals, no traditional lender-required repairs, and we charge NO FEES. We are looking to buy all types of property in any condition in the Washington area.
If you are looking to sell a DC home quickly, we would like the opportunity to make a fair offer on your house. We can have an offer in your hands within 72 hours. Give us a try by clicking the link below.
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What Does Washington Dcs Multifamily Market Mean For Investors
Washington D.C.s rental market is in an interesting place in that multiple sectors are performing well. But right now, the citys multifamily sector is leading the pack in real estate investment opportunities. This is great news for investors who have a multifamily investment strategy and are looking for a thriving multifamily market. D.C.s multifamily market stats paint a great picture of what investors can expect.
Washington, D.C. presents plenty of opportunity for real estate investors. The three-year rental trend shows growth across all rental classes. Over the past three years, rent in the D.C. area has grown 7.4% bringing monthly rents from $1,760 to $1,890.
Despite low inventory and increasing home prices, Washington, D.C. investors with strong real estate investment strategies can still profit. Its now more important than ever to have an experienced lender capable of helping you:
- Secure a loan with the best price and maximum leverage for your next rental investment
- Close properties quickly and certainly
- Run your construction and rehab projects smoothly
If youre interested in multifamily financing in Washington, D.C., . When it comes to funding multifamily loans, were the expert youre looking for. Lima Ones multifamily loan program is second-to-none because were able to offer services that other lenders cant.
Get started today and scale your rental property portfolio with Lima One, the nations premier lender for real estate investors.
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