Newb from Northern Virginia

New Member Introductions
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Newb from Northern Virginia

Sean Gronholt
Seattle, WA · Member since 2014 · 13 posts · 3 votes

Hello Bigger Pockets!

After perusing this website for months, I've finally decided to come out of the shadows and introduce myself. I'm Sean, a 29 year old IT professional living in Northern Virginia, and for the last few years I've been obsessed with the idea of escaping the 9 to 5 rat race. Passive income seems to be the ticket, and rental income is the vehicle I'd like to use.

For the longest time I was afraid of wading into the waters of REI (since I didn't understand it), but thanks the all the great information I've read on this site, I've decided that I'm ready to take the plunge.

My ultimate goal is build a portfolio of rental properties, though I'm finding that the cost of real estate in the immediate DC area is pretty steep for me. So for now I'm probably going have to shop outside my area to find more affordable properties, though I'm also very interested in the idea of partnering with others in my area.

I'm on a mission to fact-find and network with other investors in this area and learn as much as I can, and eventually, share what I've learned with other rookies. In the meantime, if there are any BP members in my neck of the woods who wouldn't mind having their brains picked by a newbie, I'd be glad to buy you lunch and introduce myself in person.

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Yoochul C.
Financial Advisor · Glendora, CA · Member since 2015 · 209 posts · 94 votes
11y
Originally posted by @Sean Gronholt:

@Yoochul C.

Hi Yooch,

I certainly haven't ruled VA out yet--between all the government jobs and the magnetism of DC, I think this is a great state to own some land in. The area I think you have in mind is located in the south east part of the state, far from DC and much more affordable. It could be worth checking out.

Do you happen to remember which podcast episodes you listened to that mentioned VA and the Panama Canal expansion? You've piqued my curiosity.

 Here you go Sean.  

http://www.realwealthnetwork.com/how-to-be-a-market-timing-expert-part-i/

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  • Brian C.
    Baltimore, MD · Member since 2015 · 80 posts · 18 votes
    11y

    Welcome Sean! I live out in Herndon if you ever want to grab a drink Send me a message.  

    Brian

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    Thanks Brian, we'll definitely have to do that!

    0Reply
  • Michael R.
    Rental Property Investor · Woodbridge, VA · Member since 2014 · 249 posts · 81 votes
    11y

    Welcome Sean! I would welcome the opportunity to grab a drink with you both. Don't forget to setup your key word alerts.

    I am also in IT in the area and the podcasts have made my long commute the virtual BP University. 

    0Reply
  • Isaac RowePro Member
    Rental Property Investor · Cleveland, OH · Member since 2014 · 214 posts · 86 votes
    11y

    @Sean Gronholt

    Welcome to BP!  An incredible resource!  I work out of Cleveland but am happy to help over the phone or if you coming into town to watch the Cavs beat the Warriors let me know and we can grab lunch! :)   

    [email protected]440-822-8422
    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Sean Gronholt

    Welcome to the site.

    Building a rental portfolio, nice! Good luck to you.

    See you around the forums.

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Michael R. Thanks Michael! That's a great idea--listening to the podcast will definitely make my commute on 66 more tolerable!

    0Reply
  • Paul Timmins
    Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Sean Gronholt

    Welcome. 

    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 rehabbers (cash buyers).

    Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Isaac Rowe Thanks Isaac! I may eventually start looking at RE over in OH in which case I'll be reaching out to you.

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Paul Timmins 

    Paul, thanks for the great resources and the tips! I'll definitely read those.

    I've heard many people on BP talk about the benefits of local REIA clubs, so I'll be sure to check out the ones near me.

    0Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Sean Gronholt

    BP is a treasure chest full of useful resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    11y

    Hey Sean! I'm not in your area but I am obsessed with passive income and also invest outside of my local area (LA). Been doing it for a few years now and I love it. Reach out anytime, or to any of us with any questions if we can help!

    0Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    11y

    @Sean Gronholt Welcome to BP! This is the best site for newbies to learn REI.

    You can make money in any city and some more than others of course. I think it is important to consider all the fundamentals if you are into rentals for the long haul. 

    Here is some info from Zillows senior economist for historical averages on SFH rentals.

    Good luck with your search! 

    http://www.zillow.com/research/landlord-profit-735...

    0Reply
  • Yoochul C.
    Financial Advisor · Glendora, CA · Member since 2015 · 209 posts · 94 votes
    11y

    Hey sean,

    Why not stay invested in Virginia.  I have listened to several podcasts about the wonders for virginia because of the whole upgrading thing going on in the Panama Canal that will allow east coast deliveries by those huge cargo ships.  The only port on the east coast that can handle that is apparently the port of Virginia.  I'd love to hear what you can find out about some turnkey guys in the area.

    Thanks

    Yooch

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Ali Boone

    Thanks Ali! It's all about that passive income and lifestyle design!

    0Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Matt R.

    Matt, that's a fantastic infographic--it's exactly the kind of data a beginner like me needs for researching out-of-state markets. Thanks for the welcome and thanks for sharing!

    1Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Yoochul C.

    Hi Yooch,

    I certainly haven't ruled VA out yet--between all the government jobs and the magnetism of DC, I think this is a great state to own some land in. The area I think you have in mind is located in the south east part of the state, far from DC and much more affordable. It could be worth checking out.

    Do you happen to remember which podcast episodes you listened to that mentioned VA and the Panama Canal expansion? You've piqued my curiosity.

    0Reply
  • Yoochul C.
    Financial Advisor · Glendora, CA · Member since 2015 · 209 posts · 94 votes
    11y
    Originally posted by @Sean Gronholt:

    @Yoochul C.

    Hi Yooch,

    I certainly haven't ruled VA out yet--between all the government jobs and the magnetism of DC, I think this is a great state to own some land in. The area I think you have in mind is located in the south east part of the state, far from DC and much more affordable. It could be worth checking out.

    Do you happen to remember which podcast episodes you listened to that mentioned VA and the Panama Canal expansion? You've piqued my curiosity.

     Here you go Sean.  

    http://www.realwealthnetwork.com/how-to-be-a-market-timing-expert-part-i/

    1Reply
  • Sean Gronholt
    OP
    Seattle, WA · Member since 2014 · 13 posts · 3 votes
    11y

    @Yoochul C.

    Sweet, thanks Yooch.

    0Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    11y

    I'm glad you're ready to jump in, every thousand mile journey begins with the first step!

    Podcast Guest on Show #121
    0Reply
  • Yoochul C.
    Financial Advisor · Glendora, CA · Member since 2015 · 209 posts · 94 votes
    11y

    keep in touch Sean.  Virginia does sound enticing.  I'd love to find some turnkey Gus that work in the area.

    Thanks

    Yooch

    0Reply
  • Jesse T.
    Herndon, VA · Member since 2014 · 1k+ posts · 324 votes
    11y

    You should consider coming to one of the Capital REI group meetings. They are in Fairfax and the group is very friendly.

    0Reply
  • Brian C.
    Baltimore, MD · Member since 2015 · 80 posts · 18 votes
    11y

    @Jesse T. do you go to those meetings? I have attended the past two months. I like it so far. We should meetup sometime. 

    0Reply
  • Latoynia Ransom-Harvey
    Investor · Fredericksburg, VA · Member since 2015 · 24 posts · 4 votes
    11y

    Welcome Sean!

     Also novice in Stafford!

    0Reply
  • Eddy Dumire
    Investor · Stafford, VA · Member since 2014 · 246 posts · 83 votes
    11y

    I'm also a geek in Virginia.  I'm currently living and investing in Stafford.  In my research, it seems very difficult to make money north of Prince William County and east of Loudoun County.

    I've been to the REIA in Fredericksburg but haven't made my way north much. Good luck and keep in touch.

    0Reply
  • Latoynia Ransom-Harvey
    Investor · Fredericksburg, VA · Member since 2015 · 24 posts · 4 votes
    11y

    @Eddy 

    Hi!

    Where in REIA in Fredricksburg? I have searched and the number I found was defunct.

    I am very interested in area- Feel free to contact

    Thank You

    "LT"

    0Reply
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