Newbie from DC Looking to Start in Virginia, Maryland, or DC

[Peter Jaglom]

Hi everyone!

Peter here currently living in Washington, DC. I'm still active duty Navy and have been moving all around the country and overseas the last decade or so. I'm looking to get started with rental properties, preferably small multifamily within 3-4 hours of DC.

My background in real estate:

~2007: Read Rich Dad, Poor Dad (and others from the series). Loved them, but couldn't figure out how to implement the concepts, especially later on when I was stationed out of the country. But RDPD changed out I thought about money and stuck in the back of my mind.

2013: Moved back to the states, knew I wanted to buy some real estate somehow, and used a VA loan to purchase a house in DC which I first house hacked before I knew what that was, then converted to a duplex and rented out when I left the area, and am now living in again with my wife and one year old. About four months ago we finally furnished the separated basement apartment and started renting it out on Airbnb. We love that this generates some extra income but still gives us the flexibility to use it for visiting family!

2018: Discovered Bigger Pockets through a combination of another blog and a friend who is a BP member actively executing his real estate plan.

My goal is to, in the next 7 years, acquire enough cash flowing rental units to fully replace my and my wife's income (maybe with a little help from my pension). To get there, I plan to learn as much as possible over the next 5-6 months and try to close on my first true investment property by the end of this year.

Hopefully that wasn't too long an intro post. Looking forward to meeting and joining in the journey with all of you!

Peter

[Account Closed]

Originally posted by @Peter Jaglom:

Hi everyone!

Peter here currently living in Washington, DC. I'm still active duty Navy and have been moving all around the country and overseas the last decade or so. I'm looking to get started with rental properties, preferably small multifamily within 3-4 hours of DC.

My background in real estate:

~2007: Read Rich Dad, Poor Dad (and others from the series). Loved them, but couldn't figure out how to implement the concepts, especially later on when I was stationed out of the country. But RDPD changed out I thought about money and stuck in the back of my mind.

2013: Moved back to the states, knew I wanted to buy some real estate somehow, and used a VA loan to purchase a house in DC which I first house hacked before I knew what that was, then converted to a duplex and rented out when I left the area, and am now living in again with my wife and one year old. About four months ago we finally furnished the separated basement apartment and started renting it out on Airbnb. We love that this generates some extra income but still gives us the flexibility to use it for visiting family!

2018: Discovered Bigger Pockets through a combination of another blog and a friend who is a BP member actively executing his real estate plan.

My goal is to, in the next 7 years, acquire enough cash flowing rental units to fully replace my and my wife's income (maybe with a little help from my pension). To get there, I plan to learn as much as possible over the next 5-6 months and try to close on my first true investment property by the end of this year.

Hopefully that wasn't too long an intro post. Looking forward to meeting and joining in the journey with all of you!

Peter

Hey Peter

First and foremost, thanks for your service.  We couldn't do what we do without guys like you on the wall.

I would refinance the DC house and replenish the VA entitlement. Then find another house to move into and use the VA entitlement again. Wash, rinse, repeat.

Welcome to BP!

Tom