New to BP and looking to invest in the DMV
Hello BiggerPockets team,
My wife and I have decided it's time to get serious with RE investing. We're starting this journey of Buy and Hold in the DMW and so far, we're learning that everything is super expensive, and most properties aren't great income generators, but we're not deterred. We also realize that we really don't know much about this industry (yet), however I can say we've learned a great deal about investing reading Brandon Turners "Rental Property Investing". While we're still grappling with understanding the Cash-On-Cash Return formula and searching for that one property that has our name on it to purchase, we thought we'd come here to learn if the DC Metro is a good or not so great area to invest in. Also, to anyone that would care to share some wisdom and is currently investing in the DMV, what tips can you share with us newbies on anything, such things as:
> What areas of the DMV should I avoid, and what areas are up and coming?
> Is this the best time to buy, or should we wait until interest rates come down bit?
> Where would I find a great buyer's agent?
> Is it smart to buy some land near great amenities and build a new multi-family property?
Thank You all in advance!
~ E.