New to REI and ready to network

[Amanda Brickell]

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

[Luka Milicevic]

Welcome to the forums! 

Go up to "network" and search for members and vendors in you area to connect with. 

Make sure to attend your local meet ups!

[Russell Brazil]

Im in the DMV. Any specific questions you have?

[Amanda Brickell]

Quote from @Russell Brazil:

Im in the DMV. Any specific questions you have?

Nice to virtually meet you Mr.Brazil. We are in the process of setting the the holding company and LLC. In the mean time, we would love any advice you may have on making meaningful connections with lenders, contractors, investor friendly Real Estate Agents....

Since you are in our area, do you have any advice on the best strategy to start with? We have been learning about wholesaling, BRRR, student housing, Short term and long term rentals, but are not sure which one to focus our first efforts on. We do have a couple long term rentals, but those were bought years ago before we were in an REI business mindset. We have the motivation and commitment, we now just need our attentions focused on next steps and making the leap.

Thank you for responding to my post. It's great to see others helping us newbies. We hope we can make a splash in REI and be able to pay it forward one day.

[Amanda Brickell]

Quote from @Luka Milicevic:

Welcome to the forums! 

Go up to "network" and search for members and vendors in you area to connect with. 

Make sure to attend your local meet ups!

 Thank you! Will do. 

[Russell Brazil]

Quote from @Amanda Brickell:

Quote from @Russell Brazil:

Im in the DMV. Any specific questions you have?

Nice to virtually meet you Mr.Brazil. We are in the process of setting the the holding company and LLC. In the mean time, we would love any advice you may have on making meaningful connections with lenders, contractors, investor friendly Real Estate Agents....

Since you are in our area, do you have any advice on the best strategy to start with? We have been learning about wholesaling, BRRR, student housing, Short term and long term rentals, but are not sure which one to focus our first efforts on. We do have a couple long term rentals, but those were bought years ago before we were in an REI business mindset. We have the motivation and commitment, we now just need our attentions focused on next steps and making the leap.

Thank you for responding to my post. It's great to see others helping us newbies. We hope we can make a splash in REI and be able to pay it forward one day.

One thing to consider is if you have a property in DC and it is owned by an LLC, as opposed to an individual person, it automatically becomes subject to rent control.

[Carlos Morales-Benitez]

Congrats on getting started on your investment journey Amanda! if you need any help looking for investment properties,im an agent in the Maryland Area

[Amanda Brickell]

Quote from @Russell Brazil:

Quote from @Amanda Brickell:

Quote from @Russell Brazil:

Im in the DMV. Any specific questions you have?

Nice to virtually meet you Mr.Brazil. We are in the process of setting the the holding company and LLC. In the mean time, we would love any advice you may have on making meaningful connections with lenders, contractors, investor friendly Real Estate Agents....

Since you are in our area, do you have any advice on the best strategy to start with? We have been learning about wholesaling, BRRR, student housing, Short term and long term rentals, but are not sure which one to focus our first efforts on. We do have a couple long term rentals, but those were bought years ago before we were in an REI business mindset. We have the motivation and commitment, we now just need our attentions focused on next steps and making the leap.

Thank you for responding to my post. It's great to see others helping us newbies. We hope we can make a splash in REI and be able to pay it forward one day.

One thing to consider is if you have a property in DC and it is owned by an LLC, as opposed to an individual person, it automatically becomes subject to rent control.

 I didn't know that, thanks for the tip!

[Sally Pearson]

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

Hi amanda! I am a young professional living in DC - I work in tech and have savings set aside to begin my investment journey. I am in real estate classes now, mostly just to have a classroom setting to learn, but want to invest in likely multifamily properties. I would be interested in the REI business you are building!

[Ka'Neisha Howard]

This is awesome Amanda! Congrats on your big step to financial freedom and success. I know you and your family are going to do great!!!!!

I am a Realtor that works with investors in DC, MD, and VA. There are a lot of great deals for investors right now!!!! Feel free to contact me at any time! I can send you a few deals.

[Joaquin Camarasa]

Hey Amanda, 

I am based in Northern Virginia. My question would be what is the structure set up you have with your family members and what an ideal investment would work for all of you. Make sure to be very specific with all the family members on % and risk appetite for each of them.

If you are able to share what you have in mind now, we can probably help you to get closer to your goal, analyze how realistic it is as well as the risk involved.

[Solomon Morris]

Welcome @Amanda Brickell! Let's get to it!

[Amanda Brickell]

Quote from @Carlos Morales-Benitez:

Congrats on getting started on your investment journey Amanda! if you need any help looking for investment properties,im an agent in the Maryland Area

Hi,
that would be great!

[Amanda Brickell]

Quote from @Sally Pearson:

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

Hi amanda! I am a young professional living in DC - I work in tech and have savings set aside to begin my investment journey. I am in real estate classes now, mostly just to have a classroom setting to learn, but want to invest in likely multifamily properties. I would be interested in the REI business you are building!

 Hi Sally, I just sent you a DM so we can chat more!

[Amanda Brickell]

Quote from @Joaquin Camarasa:

Hey Amanda, 

I am based in Northern Virginia. My question would be what is the structure set up you have with your family members and what an ideal investment would work for all of you. Make sure to be very specific with all the family members on % and risk appetite for each of them.

If you are able to share what you have in mind now, we can probably help you to get closer to your goal, analyze how realistic it is as well as the risk involved.

Hi Joaquin,

Thanks for your thoughtful reply. The team so far is Kelly Wright and Roger Webster (my parents). They have a few rental properties already but are looking to expand with a more investing focused mindset. I am learning under them with the goal of branching out on my own once I have things under wing. Right now I'm focused on learning more about loan options and best strategies as well as figuring out what location/market to focus on. I'm interesting in learning more about wholesaling but our focus is more on short-term and long term rentals. 
if there is any other details you'd like just ask. 

[River Sava]

Hi Amanda- That is awesome you are jumping into REI with family members! I am in Virginia and would love to connect with y'all and discuss being a part of your team and offer insight/resources to help. I am a firm believer in the win-win mentality so I think this could be a great opportunity.

[Da Shiek Woodard]

Amanda I am very interested in this thread because I too live in the DMV. I've been looking at out of state properties because everything here is so expensive, I'd love to know what strategy is the most interesting to you. I'm here to learn as well.

[Amanda Brickell]

Quote from @Da Shiek Woodard:

Amanda I am very interested in this thread because I too live in the DMV. I've been looking at out of state properties because everything here is so expensive, I'd love to know what strategy is the most interesting to you. I'm here to learn as well.

 Hi Da Shiek, 

Yeah, unfortunately we live in a really high cost of living area that does not seem super inviting for new investors. I have been focusing on studying heat maps and looking into job growth and development around lower cost of living areas to try and hone in on an area of focus. Secretly my dream would be to own a bunch of obscure Airbnbs but, that isn't what I am focused on at the moment. I am most interested right now on long term rentals and also learning more about wholesaling. Has there been any resources you have found particularly helpful in your learning process?

Best,

Amanda

[Martin Smith]

Quote from @Amanda Brickell:

Quote from @Da Shiek Woodard:

Amanda I am very interested in this thread because I too live in the DMV. I've been looking at out of state properties because everything here is so expensive, I'd love to know what strategy is the most interesting to you. I'm here to learn as well.

 Hi Da Shiek, 

Yeah, unfortunately we live in a really high cost of living area that does not seem super inviting for new investors. I have been focusing on studying heat maps and looking into job growth and development around lower cost of living areas to try and hone in on an area of focus. Secretly my dream would be to own a bunch of obscure Airbnbs but, that isn't what I am focused on at the moment. I am most interested right now on long term rentals and also learning more about wholesaling. Has there been any resources you have found particularly helpful in your learning process?

Best,

Amanda

 Amanda,

The city itself is very expensive, but we have an abundance of affordable satellite cities and towns around the area that can be a great fit for various different investment goals, especially as the regional economy continues a "reset" regarding remote work policies. An hour long commute can be quite a bear to do every day, but if you only have to be in the office one day a week, for example, it can be a very sensible tradeoff. 

I have seen a number of clients start looking outside the Beltway in the past year for homes that are both larger and cheaper, where they have room for a dedicated home office, for example, or a yard for the kids. Personally, I suspect that's why areas like downtown Frederick MD have seen such massive price jumps since the start of the pandemic, while a lot of condos in downtown DC neighborhoods have seen significantly smaller spikes. 

Also, DC has developed a reputation as a challenging place to be a landlord due to the extensive (and expensive!) regulatory hurdles, so some counties in Maryland and Virginia (and even West Virginia and southern central PA!) have become a more popular choice for some local investors who want / need a lower cost of entry and fewer regulatory challenges, but still something they could drive out to easily to handle a repair or just to check on the place. 

[Da Shiek Woodard]

Quote from @Amanda Brickell:

Quote from @Da Shiek Woodard:

Amanda I am very interested in this thread because I too live in the DMV. I've been looking at out of state properties because everything here is so expensive, I'd love to know what strategy is the most interesting to you. I'm here to learn as well.

 Hi Da Shiek, 

Yeah, unfortunately we live in a really high cost of living area that does not seem super inviting for new investors. I have been focusing on studying heat maps and looking into job growth and development around lower cost of living areas to try and hone in on an area of focus. Secretly my dream would be to own a bunch of obscure Airbnbs but, that isn't what I am focused on at the moment. I am most interested right now on long term rentals and also learning more about wholesaling. Has there been any resources you have found particularly helpful in your learning process?

Best,

Amanda

 The most important thing I've learned so far is to keep meeting people. My perspective changes the more I learn, but I do need to take action on something soon because it doesn't become real until you enter some kind of deal. I just want to lay solid bricks as fast as I can without losing my balance.

[Keith Stricker]

Hi Amanda, also somewhat new to the investor world, there's a Real Estate meetup in Frederick once a month that I've found great for learning/networking https://www.facebook.com/group...

[Ace Kaspar]

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

 Hi Amanda, welcome, and congratulations on starting the journey! It's a never-ending learning process haha

Always looking to connect with new people! 

[Tyler Welch]

Quote from @Amanda Brickell:

Quote from @Russell Brazil:

Im in the DMV. Any specific questions you have?

Nice to virtually meet you Mr.Brazil. We are in the process of setting the the holding company and LLC. In the mean time, we would love any advice you may have on making meaningful connections with lenders, contractors, investor friendly Real Estate Agents....

Since you are in our area, do you have any advice on the best strategy to start with? We have been learning about wholesaling, BRRR, student housing, Short term and long term rentals, but are not sure which one to focus our first efforts on. We do have a couple long term rentals, but those were bought years ago before we were in an REI business mindset. We have the motivation and commitment, we now just need our attentions focused on next steps and making the leap.

Thank you for responding to my post. It's great to see others helping us newbies. We hope we can make a splash in REI and be able to pay it forward one day.

Hey Amanda, and everyone! 

Amazing job wanting to get into the REI world in the DMV area. We love to hear it! I work with New Western and would love to connect with you and your partners.

New Western just got into the DMV and we are super excited about bringing our investment property strategy to this area. It's never seen anything like it. If you want access to properties in DC/MD/VA that are fix n flip, turn key, cosmetic-moderate Reno, multi family, land, etc, please feel free to reach out.

We have between 4-5 properties about to drop this week and I’d love to get in contact with anyone interested.
And if you haven’t heard of us, please hit my agent page!

I can also start a google meet if anyone would be interested in networking in the area. It would be awesome to meet all of you. Being a female in the real estate investment property business can be interesting, so know that there are always people to connect with to provide growth and knowledge. 

Here’s my info! 

Tyler Welch (she/her)

Disposition Agent

License # SP40002244 | Brokerage # DC REO40000121 / VA 226035216

newwestern.com/agent/ty-welch

[Beth Davidson]

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

 Hi Amanda. I live in Rockville and I am getting started on this journey. Perhaps we can find a time to talk and compare notes. I am starting the RE Rookie bootcamp next week.

[Tyler Welch]

Quote from @Beth Davidson:

Quote from @Amanda Brickell:

Hello All,

Currently starting a REI business with multiple family members and looking to network to build our team. We are spread out between Maryland and Virginia and looking to invest in these markets as well as the surrounding areas. We have been binging the Real Estate Rookie Podcast, took an intro course, and reading anything we can get our hands on. Now, we would love to get in touch with anyone interested in dishing out advise, mentorship, and those who can become a part of our network. Lets create a win-win for us all.

 Hi Amanda. I live in Rockville and I am getting started on this journey. Perhaps we can find a time to talk and compare notes. I am starting the RE Rookie bootcamp next week.

I love all this DMV action!

[Mohammed Rahman]

Hey @Amanda Brickell - welcome to BP! 

If I'm in your shoes, I definitely recommend you and your family to start attending at least 1 RE meetup a month as that will help tremendously more than any course/book/podcast/etc. will. 

Once you attend an event that's geared for investors, you'll start to connect the dots needed to make the decisions that will get you guys started on your first deal. 

Face to face interaction is always more fruitful!