Newbie in Fredericksburg, Virginia

lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes

Hi everyone!

I'm a new real estate investor, and new to Bigger Pockets (although I've devoured the podcast since I found it this summer). I'm a lawyer here in Fredericksburg, VA (smack dab between Richmond and DC on I-95).

We're in the process of buying our first investment property, and I figured it's a good time to register, since I've got questions! :)

I don't know exactly what our real estate goals are at this point, since we're just getting started. But the more I learn about it, the more I realize that it's a solid vehicle to invest for retirement.

I look forward to participating here!

Andrew

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Russell BrazilBusiness Member

Moderator

Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

10y

Thanks @Account Closed who do very well there.

There is a lot of places in the DC area that have huge appreciation potential. Fairfax, Alexandria, Silver Spring, Rockville, Brightwood, Ivy City, Brentwood, Brookland.

It is certainly a market that is easier to get appreciation, but I would not discount our cash flow plays here in the DC area.

And just for disclosure purposes I have properties in Frederick, Rockville, Germantown, Silver Spring and Burtonsville, and out of the area in Boston. Ive previously owned in Laurel as well.

[email protected]301-893-4635 Podcast Guest on Show #192

District Invest Group545 Reviews

Website View Page

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Mark Nolan
Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
10y
@Andrew Flusche
BP is full of useful resources such as forums and blogs. Welcome to the Bigger Pockets community-be sure to check out all the awesome BP blogs under “Learn.”
0 Reply
Jennifer Jesse
Midlothian, VA · Member since 2014 · 65 posts · 15 votes
10y
@Andrew Flusche
Welcome and good luck! Fredericksburg is a great place, my aunt lives there and I just recently met a fellow investor/broker from Fredericksburg.
Hope to see you around😀
1 Reply
Mike Oconnell
Investor · Richmond, VA · Member since 2014 · 88 posts · 22 votes
10y
Welcome, Andrew! I've been involved in real estate in the Fredericksburg area for almost 30 years. If there is anything I can do to help, don't hesitate to get in touch!
Hopefully we'll have the opportunity to work together some time in the near future.
Good luck!
1 Reply
Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
Thank you to everyone for the warm welcome!
@Jennifer Jesse, @Mike Oconnell - I figured there'd be some nearby folks on here. Hopefully we'll see each other around in person sometime!
0 Reply
Jennifer Jesse
Midlothian, VA · Member since 2014 · 65 posts · 15 votes
10y
lol hey @Mike Oconnell, you see I was talking about YOU. Didn't know you were on here. I think I saw you the other night at RING, sorry didn't say hi, busy night for Charlie and I!
0 Reply
Account Closed
Frederick, MD · Member since 2015 · 654 posts · 256 votes
10y
@Andrew Flusche - welcome to BP! Will you focus on Fredericksburg or DC? What is your law specialty?
0 Reply
Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
@Account Closed - Thanks!
My business is traffic and misdemeanor defense. I fight everything from minor speeding tickets to marijuana possession to DWI. The majority of my clients are charged with reckless driving. I focus on the Fredericksburg area - Stafford, Spotsylvania, Caroline, and King George.
For investing, I'm still undecided. Our first deal is under contract here in Fredericksburg, but it's for a family member to rent from us.
I'm thinking that we might look long distance next. The local market is just so darn expensive!
1 Reply
Account Closed
Frederick, MD · Member since 2015 · 654 posts · 256 votes
10y
I bet you hear some stories, eh? Yes, it's expensive here, but there are opportunities. You might want to reach out to @Russell Brazil - he's very much in tune with the DC market.
Fredericksburg is obviously growing area... not a bad place to be.
1 Reply
Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
10y
Thanks @Account Closed who do very well there.
There is a lot of places in the DC area that have huge appreciation potential. Fairfax, Alexandria, Silver Spring, Rockville, Brightwood, Ivy City, Brentwood, Brookland.
It is certainly a market that is easier to get appreciation, but I would not discount our cash flow plays here in the DC area.
And just for disclosure purposes I have properties in Frederick, Rockville, Germantown, Silver Spring and Burtonsville, and out of the area in Boston. Ive previously owned in Laurel as well.
[email protected]301-893-4635 Podcast Guest on Show #192
District Invest Group545 Reviews
Website View Page
2 Reply
Michael McCormack
Real Estate Professional · Carlisle, MA · Member since 2015 · 31 posts · 4 votes
10y
Great Insight on the DC market @Russell Brazil, it's great to have some first hand stories about this market!
1 Reply
Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
Thank you for the insight @Russell Brazil! Definitely sounds like I should look around the greater DC area before looking all the way across the country. It certainly would be easier to view properties for sale that are closer!
1 Reply
Greg Boney
Stafford, VA · Member since 2015 · 14 posts · 0 votes
10y
Andrew,
Did I hear minor speeding tickets? Just got one tonight from a radar camera in DC while heading back to Stafford. 😳
0 Reply
Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
@Greg Boney Nice to meet you! :) I definitely defend speeding tickets all around our area, but not up in DC. I'm not licensed in DC, but my understanding for their camera tickets is that if you just pay them, they don't get reported to VA DMV. A friend of mine handles defense in DC: Jamison Koehler, 202.549.2374.
0 Reply
Chris Anderson
Marlborough, MA · Member since 2015 · 40 posts · 10 votes
10y
Good luck on your first property
0 Reply
Donald Capwell
Rental Property Investor · Mesa, AZ · Member since 2015 · 149 posts · 52 votes
10y
howdy, @Andrew Flusche. My wife had a Zumba studio over by your office, until just over a year ago. (she sub leases a space now over by the Cracker Barrel on SouthPoint Pkwy... :).
What is your REI strategy? Rehab? Buy/Hold? I am filling my pipeline with motivated sellers, and looking to add to my buyers list. Let's meet when you have some time... My contact info is posted in my profile. Welcome to the site.
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Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
Hi @Donald Capwell! What a small world! I remember the Zumba studio!
At this point, I'm just a newbie who has no clue. But I'm thinking I'd be more the buy/hold type. My law firm takes up 200% of my time, so I certainly can't be involved in managing big rehabs or what-not. I'll hit you up in Jan so we can get together.
0 Reply
Robert Schuhl
Fredericksburg, VA · Member since 2016 · 5 posts · 0 votes
10y
@Greg Boney, I hope you just paid your speed camera ticket off. DC does not use a court system but adjudication through their DMV. What a joke. You could do an in person challenge but it is not worth your time usually. The ticket is on your car not you so don't worry about your driving record. Just don't NOT pay the ticket. They do work with Virginia DMV if you don't pay a ticket.
@Andrew Flusche, I am just getting started in the 'Burg. I saw lawyer and I was hoping you did RE but maybe you know someone who will work with us newbies in REI. See you around the town.
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Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
Originally posted by @Robert Schuhl:

@Andrew Flusche, I am just getting started in the 'Burg. I saw lawyer and I was hoping you did RE but maybe you know someone who will work with us newbies in REI. See you around the town.
Welcome to BP Robert! For RE law, you could try Jimmy Hilldrup - http://www.hilldruplaw.com. I've known of him for a long time, but actually just met him for the first time last week when we bumped into each other at court. He's a super nice guy.
0 Reply
Howard Maidens
Jenison, MI · Member since 2016 · 22 posts · 2 votes
10y
Welcome to bp Andrew. Lots of knowledge and resources here. Good luck to you!
0 Reply
Elizabeth Nourse
Investor · Fairfax, VA · Member since 2015 · 239 posts · 90 votes
10y
Hi @Andrew Flusche
Welcome to NOVA. You're right, the prices are high in the most close-in suburbs of Northern Virginia, but there are good cash-flowing properties in many of the outer markets both in Virginia and Maryland. If you're interested in learning more- I do a lot of analytics that might be able to help you find something.
Feel free to check out my profile and let me know if you're interested.
Liz,
0 Reply
Andrew Flusche
OP
lawyer · Fredericksburg, VA · Member since 2015 · 10 posts · 6 votes
10y
Hi @Elizabeth Nourse! Thank you for the offer. I'll definitely keep you mind, and I appreciate it very much.
0 Reply
Aj Bowman
Damascus, MD · Member since 2016 · 74 posts · 7 votes
10y
Welcome to BP!
0 Reply
Antonio Nguyen
Real Estate Agent · Fairfax, VA · Member since 2015 · 29 posts · 5 votes
10y
Welcome Andrew! I was exactly in your shoes few months ago. My focus is Woodbridge, Fredericksburg and Richmond for cashflow properties. As @Russell Brazil said Fairfax has huge appreciation potential if you were going that route.
1 Reply
Brian Hesler
King George, VA · Member since 2015 · 10 posts · 2 votes
10y
Welcome to BP Andrew! I am likewise a new member in your area. I am currently overseas, but should be home in early July. In the mean time, if you would like, I have a fantastic Realtor (who is also an investor) who may be able to help you as well. Let me know if you'd like an intro!
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