starting out

[Martin Berkeley]

I am in the research phase before buying my first investment property and plan on keeping my 9 to 5 job. I live in northern Virginia just outside Washington DC. The real-estate market here is very expensive. Am I better off figuring out how to fund an expensive property that is local (and in a market that I know, obviously) or look for less expensive property in other parts of Virginia that are not in the Washington DC metro area (markets that I would need to thoroughly research and deal with travel logistics, etc.)?

[Steve C.]

Hi Martin, I'm in a similar situation as you with deciding what is the best investment for me in the DC area. I think any of the three you mention are good as long as the numbers work for you. If you haven't heard it, I highly recommend listening to the BP Podcast #192 with Russel Brazil as the guest. He speaks directly to your questions and his approach to the DC market. I found it incredibly helpful.