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Updated over 4 years ago,
First time DMV investor advice
Hi all! I’m trying to learn as much as possible in doing my first deal but have a few questions.
I know Multis are hard to come by in the area, so trying to figure out a house hacking/rent by the room strategy. Ideally, I’d like to find a place where I can live in a basement and house hack the upstairs or vice versa (S.O. and I would like to at least have our own kitchen space. Other things are flexible) I’m Open to various locations in the DMV but need help targeting them.
I don't want to bother a realtor just yet as I'm in the middle of a lease and using that time to save and do research.
Secondly, I know ADUs would be good but I'd only like to live there the minimum and then move out and keep it as a Rent-by-the-room strategy. I don't think I can do that with an ADU, right?
So my main questions are:
1. What type of place should I look for?
2. Where do they exist?
3. What's the price point I should be targeting (I'll need to make sure I can save enough to even consider, if not, all bets are off :) )