22 y/o Software Engineer Jumping into REI

11 Replies

Hello everyone at BP ! My name is Symone' Berry I live and work in the DC area as a Software Engineer. Recently graduated from VCU GO RAMS ! 

I have been listening to podcast, watching webinars, and reading blogs here for about 3 months now and have decided to start becoming active on the forums.

I am looking to invest in small multifamilies with 2-10 units in VA, MD , WVA (close to NoVa) , NC , and DC areas. Hoping to purchase my first property by the January 2017.

I look forward to connecting and meeting other real estate investors in my area. 

Welcome to BP @Symone Berry and congratulations on graduating college! Sounds like you have already gotten a great start in learning what you can on the site, BP is a fantastic resource. Multi-units can be a great way to get started with investing and it is awesome that you have a solid goal set for 2017. Good luck in your future endeavors!

@Symone Berry

Welcome. Take a good look at student housing see below.

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). You can Google to locate them and go to meetup.com

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.

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

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

Good Luck

Paul 

@Symone Berry HI Symone, welcome to BP!

I love the multi-family approach. Do you plan on "house-hacking" and living in one unit, while renting the other out? Northern VA doesn't see a whole lot of multi-family inventory due to regulations, but DC and MD are great for them!

If you ever have any questions, feel free to reach out. 

Account Closed I do not plan on house hacking I actually just purchased a new construction home in Maryland , so unfortunately I can't go that route. Yeah I am not looking in NoVa for multi-families, but southern Virginia (Fredericksburg, Richmond ,Virginia Beach, Norfolk, Hampton areas . Thank you for the warm welcoming I will definitely reach out to you. Looking to form a relationship with an investor friendly realtor.

Originally posted by @Symone Berry :

Account Closed I do not plan on house hacking I actually just purchased a new construction home in Maryland , so unfortunately I can't go that route. Yeah I am not looking in NoVa for multi-families, but southern Virginia (Fredericksburg, Richmond ,Virginia Beach, Norfolk, Hampton areas . Thank you for the warm welcoming I will definitely reach out to you. Looking to form a relationship with an investor friendly realt

So welcome to BiggerPockets first. Congrats in making the move. Sometimes change is hard. What a great place to network and get encouraged. I am from NY and currently live in Southern Virginia. I have wholesaled in NY and lightly in VA but am looking to rehab my first project. I do know of a couple of investor friendly realtors as well as wholesales too.

You can connect and find more of what you are looking for on this website though. Looking forward to connecting and networking

Good Luck and happy Investing

@Symone Berry Welcome!

Are you looking for 2-4 units or 5+? 

You mentioned looking for an investor-friendly agent - I'd be happy to put you in touch with one of my agent partners who specializes in that area for multifam. He's done a lot of brokerage work particularity in Norfolk. 

In the past, I represented investors as an agent so I know how difficult it is to find a competent professional (especially in "residential" aka 2-4 unit) space. 

Feel free to email me and I can put you in touch!  

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