Wholesaler · Greenville, SC · Member since 2019 · 15 posts · 10 votes
Hello BP Community! I'm Simon and I'm originally from Dublin, Ireland but living in Northern Virginia (NOVA) just outside of Washington D.C for the last couple of years. My interest in real estate investing really only came on when I came to the US and saw how many opportunities there are here compared to back home. I've spent most of 2019 educating myself, reading books & blogs, listening to podcasts (a lot Brandon and David G.) and annoying my girlfriend with every new piece of information/skill I learn through this process....My plan is to get active in 2020, with the goal of getting at least one property under contract. Primarily looking at BRRRR as a strategy on SF or small MF if possible. Out of state is probably a likely option given the cost of housing near me, but I'll be looking locally initially.
I'm looking forward to connecting with this community and getting to know some of the great people on here!
Realtor · Falls Church, VA · Member since 2019 · 23 posts · 16 votes
6y
Welcome, Simon!
I'm a complete noob as well - this might actually be my first post. I've lived in the DMV area since 2011 but currently serving in a three year assignment at the US Embassy in Nairobi, Kenya but will be returning to the DMV in July 2020 and WILL be getting into the real estate investing game. Right now I'm doing exactly what you're doing - reading, researching and listening to every BP podcast and bugging the crap out of my poor wife. My plans align with yours as I'm planning to implement the BRRRR (now BARRRR) strategy for SF and small MF in more affordable markets. I'm on a kick right now to find a place in the DMV to for the wife and I do house hack in order to keep our housing expenses low so if you have any leads/advice I'd be happy to listen especially since we've been away for a couple years - not really tracking the local DMV market. We're basically living for free over here so we're saving as much money as we can so when we return home, I'll have a nice stash of money to get started. Also, after listening to 100+ podcasts and from my reading/research, I'm not afraid to bust into my govt 401k which has been building up for almost 10 years now. Anyway - just wanted to reach out and say hi and tell you my ideas/goals.
Wholesaler · Greenville, SC · Member since 2019 · 15 posts · 10 votes
6y
Thanks @Bryant Naylor. Sounds like you’ll have a good base of funds to get started next year. Best of luck! I’m trying my best to get my finances in order at the moment. I’m a little behind on my plans but going in the right direction at least.
Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
6y
@Simon Burton welcome to BP. Yes NOVA is expensive but there are areas close enough to you that are much less expensive. You can go farther out in VA or Prince Georges county, or Baltimore in MD.
Wholesaler · Greenville, SC · Member since 2019 · 15 posts · 10 votes
6y
Thanks @Ned Carey.
Yeah I’ve no problem driving am hour or two to an area that’s more suitable. Maryland is most likely my first target given there are several places within commuting distance of both DC and Baltimore and more in my price bracket starting off.
Rental Property Investor · MD · Member since 2018 · 287 posts · 205 votes
6y
@Simon Burton welcome to BP! Awesome to see you've got some goals for the upcoming year. Don't let that stop you from exploring areas you're interested in and running the numbers on deals. I wouldn't be timid about asking questions here either. DMV investors (especially us baltimore focused individuals) are pretty close knit here on BP. There's wealth of knowledge and those willing to provide their unbiased perspective which has been monumental for me and my growth.
Wholesaler · Greenville, SC · Member since 2019 · 15 posts · 10 votes
6y
Thanks @Solomon Morris! Appreciate the insights on the local area. It's very interesting to see how well people interact on here. I'm going to have to get out of my comfort zone a bit and get more active.... Looking forward to connecting.
Wholesaler · Greenville, SC · Member since 2019 · 15 posts · 10 votes
6y
Thanks for the great info @Cassidy Burns! I'm currently in negotiations with my significant other to consider house hacking and that might be my biggest hurdle. If we were to do that, small MF would more than likely be the most viable option so we have our own space. But you're right, at this early stage house hacking is the ideal start particularly as I'm not starting off with large cash reserves. I'll have to get somewhat creative. Just finished reading Matt Faircloth's Raising Private Capital and learned a lot. Next step is execution....
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