Annapolis, MD · Member since 2014 · 1 post · 2 votes
Hello everyone!!
My name is Betsy and I am starting my initial research in investing in properties in the DC metro area. I currently live in Annapolis but I plan to move to DC in the next couple of years. I am still doing a lot of research and will soon start trying to save money. I like long term planning which is why I am posting now, so I am prepared for the future.
I am mainly interested in buying and holding (I think that is the proper term). Most importantly, I am not interested in doing real estate investment full time, my long term plan is gaining more disposable income, not a ton of money but a little/enough.
If any one has any advice, I would appreciate it greatly.
Residential Real Estate Broker · Washington, Washington D.C. · Member since 2013 · 150 posts · 77 votes
12y
Hi Betsy...welcome to the Bigger Pockets community. One of the best pieces of advice I can give you is to check out the Bigger Pockets "Beginner Guide" and from there read some of the great articles about landlording, all of which can be found in the "Learn" portion of the website (and are totally free!)
Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
12y
Hi Elizabeth D , and welcome to BP! I'm a "fix and hold" investor from the Bay Area in CA, and loving it! But you'll find a variety of every type of investor on the site, and everyone is amazingly helpful. Some pointers for you: The "Learn" link across the top navigation bar has lots of great info, and so do BP members! You can click on the "vote" button if you like someone's post or is helpful, and there are "awards" to earn on your profile. And you can tag people by typing @ before you type their name, then clicking their name at the bottom of the message box. Welcome to the site, and good luck in everything!
Rental Property Investor · State College, PA · Member since 2013 · 287 posts · 99 votes
12y
Welcome @Elizabeth Dudley . BiggerPockets is THE place to be to learn about real estate investing. I actually started investing for the same reasons you did...I wanted a little extra income. I've found that once I got a taste of REI, I really enjoyed it and am not working to replace my salary with my investment property income. Driving for full replacement by 2016 so I can hike the AT with my dad and my wife and daughter can live at home without worrying about income.
As has been mentioned check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having 50 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. DC has a very active one.
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.