New to Investing in DC Region

New to Investing in DC Region

Frederick, MD · Member since 2016 · 10 posts · 5 votes

Hello, new member here...  

I live in Maryland (born and raised) and I'm just beginning to research the prospect of investing into real estate. Real estate has been somewhat of an interest in the back of my mind ever since my wife and I bought our home 8 years ago. As a future investor, I can't bring myself to fully trust and embrace the market (stocks, bonds, trust funds, etc), seeing how my 9-5 401k isn't doing so well, and relying on my company's pension plan isn't for the faint of heart. I really loathe the idea of not being in complete control of my own finances, nor do I have much interest in better understanding the market.. Fortunately, I am hopeful I can change this bleak outlook through the course of 2016 and consider this sort of investment for the future (or as my wife would put it "this crazy idea you have...")

As a father, I determined the most important obligation to my first son was to work hard and get my body into better shape, in order to better keep up with the little scamp. I lost upwards of 30lbs with the expense of one injury rehabilitation. He is now in his terrible 2's and I'm in the best health of my life. And just recently, we've been blessed with our second child. Now, my attention has changed to the future needs of my family  (be it retirement planning, college funding, etc). I'm not afraid of hard work, physical labor, and due diligence with research.

I'm a bit overwhelmed at the moment as I work through the helpful beginner's guide provided by BP and just scratching the surface to the complexities of investing in real estate. My initial primary focus is to better understand this kind of investment as a whole and figure out how to develop a plan that meets our needs. When ready, I'm interested in buy and hold SFR investments initially, but I'm open minded to my options.

Maybe this isn't as crazy as my wife thinks...

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    10y

    Welcome to BP. I think everyone's spouse thinks it's crazy until those rent payments start appearing in your bank account.

    I see you are in Frederick which I think is a very nice sub market of DC to invest in. 2 of my properties are in Frederick.

  • Frederick, MD · Member since 2016 · 10 posts · 5 votes
    10y

    Thank you!

    Yes, Frederick seems to be a vastly growing area. I grew up in the eastern part of the county and it is unbelievable how quickly areas like New Market, Urbana, Ballenger Creek, and North/West Frederick has seen growth. In fact, when I was in high school at Urbana, there was farmland as far as you could see from any angle of the school. Now, it is suburbia. And it is only growing with the new Jefferson Technology Park along Rt. 340.

    I currently work in Northern Virginia (Ashburn) and even there with the upgrades to Rt. 7 east and west of Leesburg, the area is booming with construction. Unfortunately, the cost of living is very high in Loudoun County, or at least that's my perception.

  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    10y

    Hi! @Geoffrey K.Welcome to BP.

  • Damascus, MD · Member since 2016 · 74 posts · 7 votes
    10y
    Welcome to BP! You can definitely learn a lot on by being here
  • Frederick, MD · Member since 2015 · 654 posts · 256 votes
    10y

    Welcome to BP @Geoffrey K.!

  • Frederick, MD · Member since 2016 · 10 posts · 5 votes
    10y

    Thank you everyone for the warm welcome!

  • Investor · Gwynn Oak, MD · Member since 2010 · 115 posts · 10 votes
    10y

    Welcome to BP.  You are starting young and early. You can definitely get great advise from your brothers and sisters here on BP. Welcome, again.

  • Real Estate Agent · Gaithersburg, MD · Member since 2016 · 99 posts · 32 votes
    10y

    @Geoffrey K.Welcome to BP! My wife was the one that pushed me to investing, so I'm sure you can be the driving force as well. Soak up all the information and find a niche area to concentrate. BP is a great community to ask questions and share ideas.

  • Indian Head, MD · Member since 2015 · 8 posts · 1 vote
    10y

    Glad you're here. BP holds ample information for you to absorb, so consume to your hearts content. I'm new here as well and i'm trying to avoid information overload :) Like you, my family is also the source of my motivation to really dig into investing full time and hopefully pass the knowledge along. Good hunting sir, and good luck with those terrible two's as well. I'm no expert, but i'm learning daily, so don't be a stranger if you have questions.

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