Washington, Washington D.C. · Member since 2012 · 5 posts · 2 votes
Hello everyone,
I have been looking through the site for the last couple of days and have found so much useful information. I have owned a SF rental in Virginia for a long time and my wife and I also have a townhouse in Washington that we are renting out. I have been wanting to acquire additional properties for quite some time and have finally got the courage to go for it! We are primarily interested in 2-4 unit M/F properties to buy and hold. We are always on the lookout here in DC, but the market is crazy here... we also have relatives in Cleveland OH and have been seriously considering trying to jump into the market there... any current NE Ohio, specifically Clevelanders who are willing to discuss the rental market prospects would be greatly appreciated. Looking forward to learning a lot from this site!
Washington, Washington D.C. · Member since 2012 · 66 posts · 15 votes
13y
Hey Matt Dean, Ned Carey, Jason Cohen, Chris Drury, Deirdre Brown, Travis Lauchman, Leonid Sapronov and others,
So I've met with some local DC RE investors, and the consensus I've gathered is that there is a lot of interest in starting a meetup group for DC and the surrounding area. For those not familiar with Meetup.com, its a website where you organize meetings among people with similar hobbies.
This would be a group where new, inexperienced investors like me could find mentors or partnerships for their first investment, and the more experienced investors could offer advice, find partnerships, and find investment money. I would propose that the group stay true to the biggerpockets investment philosophy, offering free help without pressure to buy anything.
I am willing to organize this group but would request help from interested locals. It seems like a hotel conference room would work well, but I have no experience organizing something like this.
I am proposing that people send me their email in a colleague request, and I will setup the meetup.com group and email everyone link invites. From this we can guage the interest, and determine a good meeting ground based on how many people RSVP to a meetup. Let me know what you all think!
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
14y
Welcome to Bigger Pockets Matt. I am in Laurel MD and invest in Baltimore so you are not that far away.
I couldn't afford DC prices which is why I started to invest in Baltimore. The cash flow there is much better. You can buy a house in Baltimore for what a down payment is in Washington DC.
Washington, Washington D.C. · Member since 2012 · 5 posts · 2 votes
14y
Hey Ned,
I have looked at some things up in Baltimore, but it seemed like in addition to Maryland state property taxes, there was also a pretty significant Baltimore city tax that made cash flow on properties almost impossible. Did I misread the data?
I'm going to check out your blog, always interested in learning!
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
14y
Matt Dean, "war Zone" is a relative term. I am sure many investors would not feel comfortable where I invest. However I do not consider any area I invest as a War Zone.
I look for stable homeowner areas. A well know area of the city and popular with landlords, is Belair Edison. We limit our holdings to the better part of Belair Edison. There are areas in Belair Edison, we won't touch, but people live there and landlords rent to them.
Residential Real Estate Agent & Investor · Washington, DC · Member since 2012 · 16 posts · 1 vote
13y
Hi Matt & Ned,
I am a new member located in Washington DC. Would love to connect if you all have the time. I have several rentals in Columbia Heights, but looking for my next rental, rehab or flip.
Investor · Rockville, MD · Member since 2012 · 27 posts · 2 votes
13y
Hi All
It's nice to meet some locals. I live in Rockville MD and have been mainly looking at places in the immediate vicinity.
$225k properties that rent for $1800 but are in stable areas near metro. Problem seem (to me) that coming up with a 20% down is difficult at best. The DMV average prices are Typically much higher so I can see why it can be discouraging in and around the city.
I would be interested in partnering with some locals around here even if a small scale. (Flip, rental, ect).
Title Representative · Washington, DC · Member since 2013 · 25 posts · 13 votes
13y
Add me to the this of locals that are looking to get together on a few deals. I am a settlement agent by profession, but I also invest in real estate on a personal level. I am a native Washingtonian, past Realtor and live in Rockville and work in DC. Maybe we can put a small group of interested parties together.
I have no experience in Baltimore. I sold real estate mostly in DC and Montgomery County. I am interested in learning about the Baltimore buy and hold market.
Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
13y
Hey Matt Dean - Welcome to BiggerPockets!
The best advice I can give you - set up some Keyword Alerts for the terms you most want to be informed about (so you'll receive notification when it's being talked about.) Whether its things you can help offer advice about or things you wanna learn more about or even keywords that will help you identify potential deals, the Keyword Alert tool is a great way to get started.
Thanks for introducing yourself Matt. I look forward to seeing you around the site!
Investor · Baltimore, MD · Member since 2013 · 65 posts · 23 votes
13y
Welcome Matt.
I too am a native of the MD area. Born in Columbia, lived in DC between 2010 and 2012, and now currently live in Baltimore. Has been nice to get a feel for the entire area.
@Ned Carey I'd love to pick your brain about your investment strategy and what has worked for you here in Baltimore.
Best of luck in finding your next investment, Matt. I have family with property in Columbus if you ever consider that part of OH.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
13y
Matt Dean Jason Cohen Chris Drury Deirdre Brown Travis Lauchman I am just seeing this now. Hey I am easy to reach. Contact me through my website below or become a colleague here. I'd be happy to meet for lunch and I love to partner on deals. - Ned Carey
Investor · Rockville, MD · Member since 2012 · 27 posts · 2 votes
13y
Thanks Ned. I just sent out some colleague invites for those on this thread. I got into the landlord side since being underwater in our first home and not being able to sell. I have learned a lot so its been a blessing in disguise. I would definitely be interested in looking at some teamed approaches for buy and hold, flip, or rehab. I have a pretty good network of inexpensive contractors since I have had a fair amount of repairs and renovations on both my houses.
I live in Rockville and work in Beltsville so meeting up for lunch/coffee would be easy just about anywhere in the DC/Baltimore area. If anyone else on the thread wants to join up that would be great.
Investor · Laurel, MD · Member since 2012 · 149 posts · 33 votes
13y
Another DMV'er checking in. I currently live in McLean/Tysons Corner, VA. Before that, lived in Gaithersburg, MD for a long time. Awesome to see fellow DMV'ers - since I started looking into investing a couple of months ago, I've been trying to find people to discuss the local RE market. Met with two agents (one MD, one VA), both told me there's an extreme shortage of supply and that investors are buying up a lot of houses. Sellers' market. Confirmed that for myself by continuously scrutinizing listings on RedFin and Zillow - very few properties in Montomery and Fairfax counties. The occational deal that comes up gets snatched up in the blink of an eye. This got me looking at Prince George's, Howard, and Anne Arundel. Also pondering Baltimore, but a little afraid to get into that market :-)
I would love to meet/partner with people to discuss strategies and work on a project. After lots of reading and thinking, I've decided that, with a full time job and not a whole lot of free time, I want to build up a buy-and-hold porfolio, so I'm not looking to flip. However, at this point, I'm interested in learning as much as possible and doing a few flips seems like good education. Perhaps there is a hybrid flipping/rental strategy that would make sense. Stuff like that would be great to discuss.
My immediate goals:
1) Buy first rental prop this year
2) Learn the DMV market, especially Baltimore, Laurel, Frederick. I know there is a lot of potential in Baltimore because I receive emails from wholesalers every day, but like Ned said, it's VITAL to know the neighborhoods
3) Join a local REI meetup (actually, I've already done that, but have yet to make it out to any meetings)
I'd be happy to share my experiences and what I've learned so far looking at properties and visiting different neighborhoods. Adding you guys to colleague list.
Baltimore , MD · Member since 2011 · 32 posts · 8 votes
13y
Hey guys, new to the forum, bmore resident....have kicked around the idea of investing in the Baltimore area for a while. I'm very interested in partnering on deals, and I'd also love to set up a local meetup thats not reia or a sales pitch. Any interest?
Washington, Washington D.C. · Member since 2012 · 66 posts · 15 votes
13y
Hey Matt Dean, Ned Carey, Jason Cohen, Chris Drury, Deirdre Brown, Travis Lauchman, Leonid Sapronov and others,
So I've met with some local DC RE investors, and the consensus I've gathered is that there is a lot of interest in starting a meetup group for DC and the surrounding area. For those not familiar with Meetup.com, its a website where you organize meetings among people with similar hobbies.
This would be a group where new, inexperienced investors like me could find mentors or partnerships for their first investment, and the more experienced investors could offer advice, find partnerships, and find investment money. I would propose that the group stay true to the biggerpockets investment philosophy, offering free help without pressure to buy anything.
I am willing to organize this group but would request help from interested locals. It seems like a hotel conference room would work well, but I have no experience organizing something like this.
I am proposing that people send me their email in a colleague request, and I will setup the meetup.com group and email everyone link invites. From this we can guage the interest, and determine a good meeting ground based on how many people RSVP to a meetup. Let me know what you all think!
Residential Real Estate Agent & Investor · Washington, DC · Member since 2012 · 16 posts · 1 vote
13y
Hi Will K,
Thank you for reaching out. I live in Columbia Heights and started investing in real estate back in 2003. I have pretty much been buy and hold, but looking to do a couple flips. I did my first birddog deal in Dec 2012.
I have been to tons of general meetup groups and also real estate groups. I totally agree we need to keep it non commercial and help each other. It would be great to meet a few folks and discuss DC metro area real estate strategies!
Washington, Washington D.C. · Member since 2012 · 66 posts · 15 votes
13y
Jason Cohen Ah excellent, you beat me to the punch. Unfortunately I am going to be out of town for the next meetup, which is too bad because I live right nearby in adams morgan. How often do you hold meetups and what does typical attendance look like?
*edit: ah i see you just made the group. Any chance we could move the date to the evening of that Monday, the 18th? I can help advertise as time gets closer.
Residential Real Estate Agent & Investor · Washington, DC · Member since 2012 · 16 posts · 1 vote
13y
Will,
Date is totally flexible. I just tossed that out as a starting point. I am headed to the http://washingtonreianetwork.com/ on the 18th, but let me know another night that works better and we can move our meetup date.
Investor · Reston, VA · Member since 2011 · 683 posts · 191 votes
13y
Hey all, I'm in NoVa and have been for 30yrs. I love to join a meet-up. I have 25 rentals and 30-40 flips under my belt. I'm always looking to learn and happy to give out any experience I have.
Rental Property Investor · Arlington, VA · Member since 2013 · 121 posts · 46 votes
13y
Hi neighbors!
Long-time lurker, first time poster. Sounds like the makings of a great group. Kudos to BiggerPockets for providing the forum to make connections like these possible. And thanks to Will & Jason for setting this up.
Unless we're buried under several feet of snow, I'll be at the meetup on the 20th. I'm in Adams Morgan, but own 2 rentals in Arlington. Currently under contract for a 3rd in PG County.
Cheryl C - have been reading your posts for ages and would love to meet you!
Washington, Washington D.C. · Member since 2012 · 66 posts · 15 votes
13y
Cheryl C. Wow Cheryl from those numbers it really sounds like you could be a great contributor to our meetup group. Are you a fulltime REI?
As Jason posted, he started a meetup.com group. We are trying to work out a date for the first meeting, so any feedback from other interested would be helpful.