In this week’s vlog, we’re taking you into the DC Metro area on a tour of 11 development projects we’re working on. Today is kind of a “Before” preview of the properties. In about five or six months we’ll come back to show you the amazing progress we make on these development projects!
We’ve only got 3 hours until a meeting with a developer so we’ve got no time to waste. Let’s go!
Project 1: We just got this project under contract. 6 large condos, 1k sq feet on some, 1400 sq feet on some of the penthouses, 6 units in the middle of glover park. We’re actually working on the permits prior to closing. By the time it closes, we’ll be ready to start the foundation work within 30 days of closing.
Project 2: This next project is right near the Tenleytown metro. It’s going to be 10 two-bedroom condos plus a couple of penthouse units with rooftop decks. It’s near Whole Foods and Target, and it’s within walking distance of tons of restaurants and bars. This one’s coming in Spring 2021!
Project 3: This next project is our only current single family home project. It’s going to be two big homes — almost 6,000 feet each! This project has been going on for a year and a half now. When we bought this it was one old home, and now it’s subdivided into 2 big lots. This is a really special project and I can’t wait to show you the end result.
Project 4: We’re set to close this one in 45 days. The permitting process is already started. It’s gonna be 10 condos right on Georgia Avenue — some one-bedroom, some two-bedroom, and some penthouse condos. This is a rapidly-developing, highly-desirable area.
Project 5: At 1322 Randolph St we are building 3 condos, ranging from 1,200 square feet to a 2,000+ square foot penthouse. That’s huge for DC! We’ve got a couple of signatures left in the permitting process, and then we’ll begin the work.
Project 6: Notice a theme yet? A lot of these projects are in permitting & planning. When we come back in 5 or 6 months, what we show you is going to blow your mind. This next project is in a Columbia Heights neighborhood. We’re converting four row houses into 11 large condos, some over 2000 square feet. They’re getting ready to pour the concrete and the foundations right now
Property 7: 3934 10th ST NE in the Brookland neighborhood, a few blocks to the metro. We’ve got 6 condo units coming here. We just closed on this barely a month ago, but we fast-tracked the permits and work has begun; we have underpinning and foundation work going on. They’re digging it out so the lower unit can have taller ceilings.
Project 8: This project is interesting because it’s going to be two “2-over-2” condos. So that’s two condos, each one with two levels.
Project 9: Right now I’m standing in front of a 6-unit apartment building. We’re in the final stages of getting the permits we need to convert it to a 15–unit luxury condo building. We’re in the Carver/Langston neighborhood, just past the H Street Corridor. From here it’s just walking distance to our next development project…
Project 10: This one’s under contract; we’re still finalizing some of the closing details so I can’t share the address with you… but we’re gonna get 18 units in this growing neighborhood!
Project 11: This project at 1915 Benning is gonna be 9 luxury condos, located right across the street from the trolley stop that connects this area to the H Street Corridor. Homeowners here will be able to just get on the trolley and go anywhere in DC; it connects to the DC Metro system.
We had a blast showing you those 11 projects!
I know it was a lot of foundations, muddy sites, exterior shots. You didn’t get to see the glitz and glamour and granite and rooftop decks that people love to drool over.
But it’s not just the finished product that matters in real estate investing — it’s also the process. It takes a lot of time to identify a great deal, get an offer in that wins out, raise the capital, get the financing, draw up the plans, permits, all of that. That’s all before you get to a beautiful finished project at the end.
Make sure you subscribe to Dan’s Weekly Vlog on YouTube and turn on notifications so you don’t miss an episode! We’ll be revisiting these properties in the months ahead so you can see what the finished projects look like.