I am looking to buy my first home in the Anacostia area in DC. I'm not very familiar with the process, but I'd like to eventually make this into a hobby. Any advice would be much appreciated !
@Blake Stout welcome to the site.
Welcome. Time to build the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
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Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Welcome @Blake Stout .
Anacostia is an interesting place in DC as it is going through a transformation and the future defiantly looks bright (at-least on the paper). We've looked at a couple of different rehab projects there but haven't pulled the trigger yet. The available inventory seems low compared to other parts of DC. If your strategy is buy and hold for rental then that is a different story.
I would be interested in having a chat and comparing notes. Feel free to drop me a PM.
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