Episode #215 A Live Look at Four Investment Properties with Dan Lesniak

On this segment of HyperFast Wealth, host Dan Lesniak is onsite at four of the team’s current investment properties in D.C, all in various stages of development. Dan walks us through the details of each property, when the projects are set to be delivered, and why he’s looking forward to the spring market in D.C.

 

Episode Highlights: 

  • Dan is onsite at four different investment projects in various stages of development.
  • The team currently has 115 units in their investment pipeline right now, and looking to acquire more.
  • The first site Dan is visiting is 751 Columbia, an 11-unit condo development and one of the bigger projects the team is currently working on.
  • This project is in a great area of D.C., surrounded by shops, parks, and bars.
  • The project was acquired almost a year ago, and is actually four projects rolled into one. 
  • They took what was three row homes and a vacant piece of land, and are turning it into 11 luxury condos.
  • This project is taking a little extra time because the 3-unit sections of the building had to go through the BZA process.
  • Dan outlines the construction details and amenities associated with this project.
  • The 2-unit section should be listed in the spring, and the three remaining 3-unit sections should be listed in the summer.
  • The second investment site is 1921 Capitol Avenue, a 4-unit condo project in an up and coming location.
  • The team took 2 row homes and are converting them into four 3-bedroom/3-bathroom condos.
  • The framing is complete and trade installation is set to happen in the next couple weeks.
  • The team hopes to deliver the end product early in the spring, which Dan feels will be an excellent time to list in the D.C. market.
  • The third on-site location is 1010 17th Street, a 15-unit project in a well developed area that is seeing even more construction growth.
  • This project is in the demolition stage with an approved full permit set.
  • The next step on this project is putting in the cinder block wall, which is a few weeks away, and then the team can start framing.
  • The last project site is 3934 10th Street NE, a 6-unit condo project near the Metro and National Basilica.
  • The property was acquired in July, 2020 and should be delivering in February, 2021, which is a quick 8-month turnaround.
  • Dan details the construction updates on this project.
  • There is a pre-drywall Open House on this project so agents and interested parties can get a preview of the property.

 

3 Key Points:

  1. Dan feels the spring D.C. market will be a great time to list the team’s new properties.
  2. A pre-drywall Open House is a marketing tool that allows you to generate interest well before the property is scheduled to hit the market.
  3. Think outside the box when planning a property development. Keep in accordance with zoning regulations, but can you utilize the property in a different way (i.e. turning a row house into a multi-unit condo development)?

 

Tweetable Quotes:

  • “We’re excited about that time frame [early spring], because we think that’s going to be a great time in the D.C. market.” – Dan Lesniak
  • “We actually have 9 active contracts and another 3 under contract, so there’s going to be plenty of activity.” – Dan Lesniak

 

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