First Time DC Investor

[David Robertson]

Hi, 

My name is Dave Robertson, and I work as Staff Architect in the Washington, DC metro area. As a design professional I've had an interest in real estate for some time now, but I just don't know where to start. My initial thoughts have been to flip or rent. I know the answer, to this, is probably all over the forum, but I'm curious how other people have gotten their start?

[Robert Williams]

Hi David,

Welcome to Bigger Pockets!  I got my start in real estate investing by jumping right in and just buying a property.  I bought my first investment property in 2006 when mortgage companies couldn't give their money away fast enough.  I bought a place in the Columbia Heights neighborhood  of DC that needed a complete gut rehab.  I hired a contractor and worked with him to rehab the property.  The project took a lot longer and cost a lot more than I expected, but it provided some valuable lessons learned.  I found a tenant as soon as the renovation was complete.  I was a "buy and hold" investor for many years, steadily adding to my portfolio of rental properties in DC.  

A few years ago, I decided to take the plunge into fix-and-flip investing.  I sold one of my rental holdings to provide the seed money for my first flip and I haven't looked back since then.  I'm now doing flips as a full-time career and I love it!

-Rob