New Investor in the Washington DC, Virginia, Maryland (DMV) area

[Wes Talbot]

Hello! My name is Wes Talbot and I'm in the process of separating from the military and will be starting a government contracting position in the DC metro area within the next couple of months. I currently don't have any related experience in real estate outside of some light contracting work I did as a carpenter's apprentice and some demolition work several years ago. I have always wanted to start a business but have never really figured out in what till just a couple months ago when a saw a video from BiggerPockets youtube channel and everything finally just clicked. 

Currently, I'm interested in learning as much as I can about every aspect of real-estate and have started going over BP's UBG and listening to all of their podcasts. I attended a local seminar by Than Merrills FortuneBuilders (sales pitch for his workshop) which did provide a lot of information (from a newbie perspective at least). I did sign up for their 3-day workshop (seemed like a good deal for $200) which will take place in early-November and am hoping to use it as a good base establishment and networking opportunity. I am looking at joining and participating in some other local real estate groups through MeetUp and other ones I hope to find. 

I live in Alexandria, Virginia, which is within the Washington DC Metro area - meaning everything in this area is fairly expensive and the barrier to entry is relatively high. I do understand if you drive a few hours out or go on the Maryland side, prices are a lot more affordable.

My first general long-term goal for real estate investing is to start flipping properties in my area to help build my experience and cash coffers so that I can acquire my first commercial property of 30+ units within the next 5-years. My first short-term goal is to acquire my first flipping property by the end of the first quarter of the 2020 calendar year. I do currently have ~100k saved up which should afford me some flexibility in terms of property choices in the area; of course, I don't want to take on something that large as I want to have a cushion for the many mistakes I am sure to make. 

[Russell Brazil]

Welcome to BP @Wes Talbot. If flipping is your goal Id focus on areas along the DC border in PG County, and in DC in Petworth, Trinidad, Kingman Park, Brightwood, Riggs Park.