Newbie from VA/MD/DC Area

[Kevin Choi]

Hi BiggerPockets community! 

I am a newbie investor from the VA/MD/DC area (DMV). A licensed architect in DC with +7 years of professional experience in architecture, design, and construction management. Still, it had never occurred to me to be on the investment side of things until I met my wife and we began discussing our future. Now I'm studying CRE finance, investment, and tax strategies aside from my full-time job to better equip myself with the essential financial literacy.

We are looking to get started with our first investment next year, preferably within the DMV area. Our primary interests are in long-term rentals (single and multifamily), flips, short-term rentals, flex spaces, and storage units.

Looking forward to connecting and building meaningful connections! Happy Holidays all!

[Brandon Wagner]

In the DMV area everything is competitive, but best way to get started is always house hacking.

You can get stuck in just determining which real estate investment strategy to use. Find one that suits your personality and your cash on hand ready to invest. Once you decide that it'll be a lot easier to find something your looking for.

Here is a general overview I consider.

Low Money, Lots of time, Go getter attitude

Wholesaling, Rental Arbitrage

Low Money, Little time, Generally friendly, willing to sacrifice comfort for future wealth

House Hacking, Long Term Rentals

Lots of money, Lots of time, Can hire out teams to do work for you. Good at building relationships

STR, Fix and Flipping

Lots of money, Little time, Good with numbers/analyzing investments

Private money/Hard Money Lending, MTR