New to Washington D.C. and Bigger Pockets

[Aaron Ray]

Hello! Anyone from the D.C. Area? I just graduated college from Penn State and I'm currently splitting a house rent 4-ways with some friends in the D.C. area. My original plan to get started into real estate investing, was to buy a duplex, live in it and rent the other unit, or possibly even the BRRRR Method. But my plans have now changed because of moving to the D.C. Area. Honestly, I have no idea how I'll ever afford something in this area. I was originally planning on the Erie, PA or Pittsburgh PA areas, but now that I'm in the D.C. Area, I don't know how I'll be able to do it. Does anyone have any ideas other than working 4 jobs to raise money? haha

[Russell Brazil]

Welcome to BP @Aaron Ray.  While it may seem that prices are high here in the DC area, presumably so is your income.  Housing prices are a factor of the available income to purchase those houses in a given market.  Our median home price is roughly 4 times the areas median household income, which is what one would expect when Fannie Mae borrowing guidelines is that you can borrow roughly 4 times your income.

So Id take your estimated salary...multiply it by 3 or 4 and target properties/neighborhoods at that price point.  The metro area has plenty of lower priced properties as well as expensive ones.