New Investor Looking to Learn & Connect!

[Jamal Kamara]

Hey everyone! My name is Jamal, and I'm based in Alexandria, VA. I'm 16 years old and just getting started in real estate investing

Right now, I’m mainly looking into:

Flipping properties 🏚️➡️🏠

House hacking & rental properties

Wholesaling & learning off-market deals

Right now, I’m studying how to find undervalued duplexes and strategies to break into real estate at a young age. I’m open to any advice, mentorship, or networking opportunities with experienced investors

If you're in the VA/DMV area or just have advice, definitely hit me up ,I'd love to connect

[David Cherkowsky]

@Jamal Kamara I think there's better folks in BP that can be speak to different areas of DC better than I could. I'm closing on a duplex at the end of this month and will be househacking in the Bloomingdale neighborhood of DC. I could provide better insight in a few months after getting some experience, but happy to answer any questions.

I think rent by the room is a good strategy in Alexandria because it allows you to house hack.  The main benefit there is house hacking allows you to put down a lower down payment than an investment property. You'll have to live in the property for a year before turning it into a full time rental, but you can rent it portions of the house the first year as long as you live there. Lots of good info on househacking on BP.

A traditional rental in this area probably won't cash flow at today's interest rates, and will require 20% down. I have one that I bought last year, and knowing what I know now, I may not have bought it.

Another strategy to consider close to Old Town is short term rentals. I think that's a way to get potentially positive cash flow in an appreciation market like northern Virginia. Only thing to be cognizant of is that laws vary by city. Alexandria city is the least restrictive area in the DMV for it, but if you're looking for something more active, a house hack with STR seems like the best option in the area to me. That's what I'll be doing in DC.