New to BP and looking to invest in the DMV

[Eugene Carson]

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.

[Russell Brazil]

I actively invest in the DC area and have for 13 years now.

"What areas of the DMV should I avoid, and what areas are up and coming?"

This simply goes to your risk tolerance. There is no good or bad areas, just areas of varying risk. I personally invest in Petworth, Shaw, Silver Spring and Rockville. Ive helped clients purchase and invest just about anywhere you can think of in the DMV though. It is important to find the risk tolerance and strategy that work for you though.

"Is this the best time to buy, or should we wait until interest rates come down bit?"

You can get better deals now while interest rates are higher. More negotiation, more seller subsidy, more repairs after inspections. Once rates come back down, we will be back to no negotiation, escalations, and no inspections.  Choose your poison.


"Where would I find a great buyer's agent?"

There are plenty right here on BP.

"Is it smart to buy some land near great amenities and build a new multi-family property?"

Buy and large you can not build multifamily anywhere in the metro area. That could change with the Thrive Zoning Plan that Montgomery County is passing...but thats still really only going to be available to major builders. Individual small wont be able to build most likely. 

And welcome to BP @Eugene Carson