New Investor/Agent in Washington, DC (DMV) Someone Hit the Reset Button Please!

[Bryan Stacy]

Hello – My name is Bryan Stacy, I’m 32, originally from Chicago, but moved to DC a couple years ago. DC was supposed to be just a stop before I moved elsewhere, but as it turns out…I kind of like this place and all its craziness.

I did a couple flips when I lived back in Chicago, and used the money to buy a condo of my own around 2007. The plan was to rehab & expand the condo, live in it for a couple years and sell it. Instead I got snarled in the city permitting process, crushed by the changing financing market, found myself on both sides of different lawsuits with architects, contractors and the condo association. WHEW!

6 years later, and many lessons learned (and $ lost) I’m ready to get back after it in DC. Why?

Call me hard headed, but it took cancer to realize it. Last year I was diagnosed with testicular cancer which became an inflection point for me. (see: www.onebignut.com for more info) During chemo I talked with a partner of mine I worked with in Chicago. We both talked about the hard work, long hours, big mistakes, but total satisfaction we had when doing flips in Chicago.

Fact is:
I love looking at real estate: When I look at buildings, I can’t help but think “how could I make this better?” or “what better purpose could this building serve?”.

I love talking about real estate: No matter what business someone is in, they’re always curious about real estate. I can’t think of a more common interest with a broader group of people.

I love to solve problems: I’ve been a management and strategy consultant for almost 10 years. I’ve been helping our government and other clients solve problems for the duration of that time. I’m ready to do the same thing for people who need it regarding real estate. I like the idea of being rewarded according to the problem I’m solving.

I’m 50% Polish: So I love getting a deal

My high-level goals for real estate are simple:
1. Work as an agent part time to build up cash reserves

2. Become an expert in the DC market and build problem solving tools along the way

3. Stop renting: Purchase an income producing property that I can also live in

4. Start working full-time in real estate (sales and investing)

5. Find the right balance between flipping and holding properties

I’ve already checked out the bigger pockets podcasts, so if the information here is anything like that, I’m really looking forward to receiving and contributing. Thanks for providing this great platform!

I’d like to mess up less than I did last time, so I have a lot of questions! All help and answers are appreciated. See you in the forums!