Insider Alert: City Center Sells 2,600 SF Penthouse for $3.8 Million

City Center - Washington DC's Hottest New Development

DC’s hottest new development, City Center, has only just begun sales and is already breaking price records. The developer has secretly reported that one of their largest units has gone under contract for $3.4 million and the purchaser added a small one-bedroom unit to the floor plan for a mere $400,000 totaling the massive $3.8 price. Trading at this level sets the standard for this impressive new development at almost $1,500/SF for the larger units. Buyers better line up fast. One of the two residential buildings is already 40% sold and the waiting list for an appointment is over 3 weeks. Three of the eleven units with private outdoor terraces sold early in the “friends and family” program and the others are sure to go fast.

Buying and owning real estate is an investment strategy that can be both satisfying and lucrative, learn how do you buy turnkey rental properties and more real estate opportunities. Unlike stock and bond investors, prospective real estate owners can use leverage to buy a property by paying a portion of the total cost upfront, then paying off the balance, plus interest, over time.

While a traditional mortgage generally requires a 20% to 25% down payment, in some cases a 5% down payment is all it takes to purchase an entire property. This ability to control the asset the moment papers are signed emboldens both real estate flippers and landlords, who can, in turn, take out second mortgages on their homes in order to make down payments on additional properties. Here are five key ways investors can make money on real estate.

KEY TAKEAWAYS
Aspiring real estate owners can buy a property using leverage, paying a portion of its total cost upfront, then paying off the balance over time.
One of the primary ways in which investors can make money in real estate is to become a landlord of a rental property.
People who are flippers, buying up undervalued real estate, fixing it up, and selling it, can also earn income.
Real estate investment groups are a more hands-off way to make money in real estate.
Real estate investment trusts (REITs) are basically dividend-paying stocks.

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