New Member Moving Soon to Washington, D.C.

[Stefan Hasselblad]

Hello everyone!

I'm a recent law school graduate moving to the District of Columbia this summer to take a job at a big law firm. Over the next few years I plan to work hard, save money, educate myself on the market in the broader D.C. area, and buy some income generating rental properties. I have no previous REI experience, but I am reading plenty of books, reading a lot on bigger pockets, and working my way through the podcast archives. I look forward to learning from all of you and (hopefully) eventually contributing!

A couple of very general questions I have right now to further my education:

1) Where can I learn more about the demographics and economics of specific neighborhoods in the D.C. area? I know cap rates are generally low in D.C. itself, but are there other neighborhoods where multifamily housing might generate better returns? Any suggestions on where I should start looking?

2) Any recommendations on websites/facebook pages that focus on REI in the D.C. area?

3) Any recommendations on REI groups in the D.C. area?

4) Has anyone had luck finding wholesalers in D.C.?

Thanks everyone for reading my post – I really look forward to becoming a contributing member of the community!

-- Stefan --

[Russell Brazil]

Congrats on deciding to move to the best city in America.

Don't get too attatched to the idea of multifamily properties. They just by and far don't exist in our market. 

The DC Metro area market is very very diverse, and a bit complicated. We have areas where properties sell in hours on the market, and other areas where it takes months. We have areas really good for cash flow and other areas with bad cash flow and great appreciation.

There are many great REI groups in the area. My favorite are the Gaithersburg Meetup, Frederick Meetup and the Anne Arundel. There are many REIAS as well, but I'm generally not a fan of them. Feel free to reach out with any questions.