newbe to the MD and DC real estate market

[Lee Culver]

Hi.  I moved to Friendship Heights (southern Montgomery County) Maryland 2 years ago after living in central PA for 27 years.  Sold my house in PA and would like to understand the real estate market here in my area.  I would like to find and hold a small multiple family dwelling in NW DC or maybe Silver Spring area.  I have always done a lot of the work around my house - plumbing, carpentry, electrical, painting, and yard work - and am not afraid to try to fix an appliance when necessary.  You can always find the info you need on the web!

I undoubtedly have more money than time, as I am working full-time (or more) and have a 35-50 min commute each way.  So I would like to talk with others who have time to look for good deals and need a partner to make something work.  I understand the 70% rule, and I know how to find comps on a house.

Not too sure about this web site, but I'm willing to give it a try.  Have been reading the Rich Dad Poor Dad book and listening to one of Brandon's books, and have heard on of the BP podcasts.  Am not yet sure that BP isn't just hustling people, but they haven't asked me for money yet, so that is a good sign.  If I meet some like minded investors, that will be great.

Thanks.  Lee Culver

[Russell Brazil]

The site isn't hustling anyone. It is amazing tool, and it needs to support a number of employees as it is a business so there are multiple avenues from which the site makes money. On site advertising, advertising on the podcast, different membership levels, books for sale. But you don't need to pay a dime and can receive an immense education for free.

In fact let's start that free education now. You mention you have an interest in multifamily investing. I hate to burst your bubble, but the DC area by and large does not have 2 to 4 unit properties like other metro areas. You will find a limited number in the DC neighborhoods of Trinidad, Ivy City, Deadwood and that's most of them. Northern Virginia has almost none. Takoma Park has some, but with incredibly restrictive rent control that almost guarantees theirs will be cash flow negative.

If you want to invest in the DC area I highly suggest not getting too enthralled with 2 to 4 unit properties.