All Forum Posts by: Jay Campbell

@Russell Brazil I hadn't heard of the Home Ready loan before, I'll definitely look in to it. Thanks for the suggestion!

Thank you for the feedback @Jerry Padilla @Joemade Scott Carter @Russell Brazil @Stephen Chittenden 

It sounds like the live-in route could work with a property where I could rent out a room (or basement) while living there. I'm definitely going to consider all the additional expenses to factor in with the FHA loan as it sounds like they may eat up cash flow.

FYI, I plan on living inside the Beltway (preferably Northern VA) no matter which route I take. If buying a pure investment property (no house hacking) away from the city, I would still live in the NoVA area renting an apartment.

Hi,

I'm a brand new investor, currently living in northern Virginia, looking to purchase my first rental property within 2016. I've done a lot of reading/research, listened to BP podcasts, and read through the forums and blogs. At this stage I'm stuck between mainly 2 strategies, either some form of house hacking or buying a cheaper property and renting right away.

I currently work in DC so if going the live-in route, I'm looking to stay within the beltway. Due to the lack of small multi's in this area, I'm considering buying a condo or townhouse needing minor rehab with an FHA loan, living in for a year, and then renting it out. This will be my first home purchase (personal or investment) so I'm thinking this route would be a good learning experience for the entire process.

Alternatively, I've seen areas that are 1hr to 1-1/2hr away where I could buy a condo or SFH with a conventional loan, rehab, and then rent. These properties are cheaper, but appear to need more rehab in many cases.

Does anyone familiar with DC, Maryland, or Virginia have any insight into what makes more sense in terms of long-term cashflow?

Any help is greatly appreciated!

I just went back and listened to Podcast 60 with Serge Shukhat on how he went from 0 to 68 units in 4 years. There's some great advice in there. I'd check that out @Chai Jonn

Thanks @Lisa Jones . We should definitely stay connected. I'm sure we can bounce ideas and success stories off of each other going forward.

Thank you for the warm welcome!

@Brian Lacey @Sam Lin @Melissa Gittens

Thanks for the advice @Russell Brazil . Could send me a link to the blog post you mentioned? I'd love to get a better idea of what works and what doesn't in the DC metro market.

Hello BP!

My name is Jay Campbell and I'm a 26-year old living in Alexandria, VA, looking to break into the world of real estate investing. I'm currently a Project Manager in the construction group of a commercial real estate company in Washington D.C. I've lived in Northern Virginia for a little over 4-1/2 years and have worked in construction management for 3 years, as well as mechanical systems (HVAC) design for 1-1/2 years.

With the experience and knowledge I've gained in working in the building design/construction field, I feel I have a skill-set that will be very useful in my real estate investing endeavors. I found BiggerPockets through a Google search looking for "getting started in real estate investing", and have been hooked since. I've listened to a number of the podcasts and read many of the guides and blogs posted to the site. 

From the information I've learned so far, I'm interested in starting my real estate investing journey using the buy-and-hold strategy, and "house hacking" a small multifamily property (specifically a duplex). My goal within the next 5-7 years is to generate enough cashflow to cover my monthly expenses and achieve financial freedom.

I'm looking to network and build relationships with other investors in the area to grow my REI knowledge base and community. Any help or guidance along the way is greatly appreciated. I look forward to interacting with other members.