All Forum Posts by: Danny Lambert

Hello BP Community,


I like to imagine my real estate life when I retire from wage work in 10-15 years. I am curious what type of investing you think provides the best return on investment for a half-time job (roughly 25-30 hours a week) and roughly $1.7-2 million in today’s money. A diversity of answers is welcome as I decide where to point my investing after I start my first house hack. I certainly understand that your opinion may vary by market and I cannot base my investment strategy on speculation or “swinging for the fences.”

For context, I want to keep my mind sharp and net wealth growing (or stable) as I age once I have the specified amount. I also want to spend a lot of time with my loved ones and hobbies (even if that means I’m driving a Corolla instead of a sports car).

Thanks a bunch!

My journey began in earnest today: I recorded each step that led to that point (the beginning of my first system!) for future reference and interviewed the first agent to purchase an investment property. Thank you is an understatement, @BiggerPockets.

Hello Devin,

I agree, although Real Estate Rookie and earlier episodes of the BP podcast are the most relevant to people just starting out. I summarizing my real estate knowledge in an outline that I plan to build over time. Also, I suggest becoming a pro member to the website and adding a photo to your profile page.

Best of luck-feel free to update us when you purchased your first property.

Regards,
Danny

Thanks again, that makes sense. From my experience as a renter and chatting with house hackers, the room-rental market places a premium on public transportation access. However, demand for a quality apartment at market price with competent management exists virtually every urban neighborhood.

Hello BP Members in the DMV,

In the D.C. area, do multifamily buildings of 3 or 4 units tend to appreciate at the same rate as a stand-alone house? Or, given that the eventual buyer probably be an investor, perhaps these multifamily buildings appreciate a bit slower and according to the rent it can generate? If the answer varies between D.C., Northern Virginia, and Maryland, please elaborate how. For context, I am creating criteria for my first investment property and am trying to decide how much cash flow I should “require” for a multifamily building of 3 to 4 units.

Thank you in advance!

Danny

In addition to these steps, I would clean the nicotine from the walls, then open all the windows and doors to let fresh air run through the house for 24 hours (or as long as possible). Then install a light air freshener or two in every room in the house. It worked like a charm rehabbing a family member's house.

Here's an article about the country's fastest appreciating markets: https://www.cbsnews.com/news/h...

Yeah, I just subscribed to the DMV Weekly Market Update podcast. Thanks for the tip!

Hello @Anthony Fanucci,

The two cents from another D.C.-area rookie:

-Mashvisor has been a helpful tool. -My entry point to our market will be a rehab or multifamily. Getting a deal in the area involves doing what others aren’t willing to.

-Feel free to let me know how it evolves.

Regards,

Danny Lambert