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Updated almost 8 years ago,
Newbie from Washington DC area
Hi all! I've been lurking around BP for a few months now and I'm learning a ton from the forums and podcasts. I thought I'd formally introduce myself and start networking with people in the community.
I have been living and working in the D.C. Area for about 7 years. I recently sold my primary residence and went back to renting to be closer to work. With my equity cashed out and combined with my savings, I got a lot of capital that I'd like to get some return on and the stock market just isn't that attractive to me. Instead, I'm looking to purchase a multi family property (preferably triplex or quad) to buy and hold for rental income and live for free. I don't have any intention of flipping, the cashflow is what I'm after. I love the idea of house hacking but the D.C. Area is sorely lacking in multi family properties especially towards the Virginia side. I am finding some in eastern D.C. and towards Baltimore but nothing around the northwest.
Can anyone share their experience with house hacking in the D.C. Area? How'd you find it? What neighborhood and/or state is it located in? How did you finance it? FHA, conventional, hard money etc?Any real estate agent recommendations would also be appreciated.