Washington DC/Maryland/Virginia Multifamily Housing Hack

[Joshua Smith]

Hi everyone - I am a DC resident who has some experience in multifamily investing. 

I would like to find a duplex, triplex or four-plex in the DMV area, so that I can "house hack"/stay in one of the units and rent the others out. 

Are DC/Montgomery County/Fairfax/Loudon counties decent for this strategy? There seem to be many expensive multifamilies and part of me wishes I lived in a more affordable, appreciating 18-hour-style city. Any advice?

[Russell Brazil]

At least once a week I am contacted by a potential client that wants to buy a multifamily. They are always so disappointed when I show them the few that are on the market. If you are intent on living in a multi, there are some, but not a lot. They are almost non-existent on the Virginia side of the border. On the MD side of the border you can find some in Takoma Park over by Flower Ave....but Takoma Park has VERY restrictive rent control. Much worse than DC's.  In DC you can find some down in Trinidad, Brentwood, Ivy City. You may find a few here and there throughout the city...but like @Ned Carey said that there is such a low supply of them, you have a simple supply and demand issue. With low supply you have high demand, and thus higher prices.   I wrote a blog about our lack of MFH's. It is on my member log if you want to read it.

The other thing that has been affecting the supply that we once had is that developers are taking the multi's that exist and turning them into condos.  On the investment side, it is a great strategy as that is how you can maximize your value on them.