New Member from Washington, DC

[Kiarra D.]

Hi everyone,

My name is Kiarra and I’m new to real estate investing. I am originally from the Bay Area but am now living in Washington, DC. I’ve done a lot of reading and I’m finally ready to take the plunge! I am interested in buy and hold multi-unit properties. My goal is to have 50 units by the end of next year. I’m currently looking in the Baltimore City/County area and I’d like to get my feet wet with a 2-4 unit property. I plan on having one under contract in the next couple of months, so if anyone has any recommendations for any real estate brokers in my area that would be greatly appreciated! I’m happy to be a part of the BiggerPockets community and look forward to connecting!

Kiarra Dikes

[Russell Brazil]

2-4 unit properties are incredibly low supply throughout our entire region. Takoma Park has some, but their incredibly restrictive rent control leads to them being cash flow negative if purchased with leverage. Trinidad has some, but the 4 unit ones there have a highest and best use as condos, so condo conversion developed can bid the price higher than what makes sense for a buy and hold investor. The few in Baltimore will often have lower returns than single unit properties in Baltimore.

So just be honest with the reality of multifamily investing in DC. Sure you can make money in it, but it's a highly competitive sector due to our low supply of the asset when measured against other metro areas.