Newbie from Jacksonville, FL relocating to Washington DC

Newbie from Jacksonville, FL relocating to Washington DC

Member since 2019 · 4 posts · 2 votes

My name is Bryan, and I am originally from Southern California. I am currently active duty military stationed in Jacksonville, FL. At around the June timeframe, my wife and I will be PCS’ing (moving) to DC where we hope to purchase our first home. The both of us combined have zero experience in real estate, but we’re learning and are extremely appreciative of resources like BiggerPockets.

From what we’ve read so far, certain parts of DC are expensive. Ideally, we’d like a duplex so we can supplement (or cover) the mortgage and hold on to the property when we leave DC. At the minimum, a single-family home would even do so we can rent out a room. Hopefully, BP can guide us to make this move an investment instead of another move.

Long term, we’d like to accumulate a few small properties to supplement our income, but if we can turn it into our main source of income—why not.

Thanks!

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Rental Property Investor · MD · Member since 2018 · 287 posts · 205 votes
6y

@Bryan Rap I'm active duty and had similar questions upon my relocation back to the DC area. Consider DC sub-markets like anacostia, capitol heights, hyattsville or even suitland where you will be working! Sticker prices are not as big but we are definitely seeing growth due to proximity.

I attended  @Kevin Leahy and @Russell Brazil 's first meeting last night near capitol hill and it was a 15 minute uber ride from my place in capitol heights. Smooth ride, incredible event.

Good luck and don't be afraid to reach out as you transition to the area

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  • Real Estate Broker · DC MD, VA & NV · Member since 2014 · 512 posts · 292 votes
    6y

    You’re going to love DC @Bryan Rap. Welcome! Will you be working in DC, MD or VA? Considering your commute is as important as budget...

  • Rental Property Investor · Washington, DC · Member since 2019 · 3 posts · 0 votes
    6y

    @Bryan Rap where will you be working? Pentagon, Ft. Belvoir, or another area? Usually what I’ve found from my own search the NoVA area each half of a duplex is sold individually due to how high prices are, and almost any true duplex in DC will go for 1mil or more. You may be able to get lucky with a duplex, but at least in the NoVa area it’s a lot more common to have a basement with a separate entrance and turn it into a studio of sorts to approximate a duplex. To the East of DC in Maryland there are some cheaper options, but that does come at the cost of commute time and usually the areas there aren’t the best.

  • Rental Property Investor · Washington, DC · Member since 2017 · 50 posts · 50 votes
    6y

    Welcome @Bryan Rap! It's certainly pricey here but there are opportunities to house hack. Check out @Ron Gallagher's posts describing how he did it. @Russell Brazil knows the market very well and helped me find a duplex (they're somewhat rare in the city) that I have under contract in NE DC.

  • Member since 2019 · 4 posts · 2 votes
    6y
    Originally posted by @Kevin Leahy:

    Welcome @Bryan Rap! It's certainly pricey here but there are opportunities to house hack. Check out @Ron Gallagher's posts describing how he did it. @Russell Brazil knows the market very well and helped me find a duplex (they're somewhat rare in the city) that I have under contract in NE DC.

     Thanks for the information. I'll be sure to do more reading and ping Russell.

  • Member since 2019 · 4 posts · 2 votes
    6y
    Originally posted by @Sean Meiller:

    @Bryan Rap where will you be working? Pentagon, Ft. Belvoir, or another area? Usually what I’ve found from my own search the NoVA area each half of a duplex is sold individually due to how high prices are, and almost any true duplex in DC will go for 1mil or more. You may be able to get lucky with a duplex, but at least in the NoVa area it’s a lot more common to have a basement with a separate entrance and turn it into a studio of sorts to approximate a duplex. To the East of DC in Maryland there are some cheaper options, but that does come at the cost of commute time and usually the areas there aren’t the best.

     I'll be working in the Suitland, MD area. Thanks for the information. I saw that the DC duplex market is way more expensive then I can afford, but I am hopeful. The NoVA area looks like a nice alternative. With HQ2 moving in, should I be worried about a dramatic move in prices?

  • Member since 2019 · 4 posts · 2 votes
    6y
    Originally posted by @Marian Huish:

    You’re going to love DC @Bryan Rap. Welcome! Will you be working in DC, MD or VA? Considering your commute is as important as budget...

    Thank you for the welcome! I completely forgot to mention the two big things--commute and budget. I'll be working in the Suitland, MD area and am willing to commute up to 45 minutes, but if the property is too good to pass up, up to an hour.

  • Rental Property Investor · Washington, DC · Member since 2019 · 3 posts · 0 votes
    6y

    @Bryan Rap price increases from hq2 have already taken place, but honestly housing is already so tight here anyway it wasn’t anything extremely out of the norm, hq2 just got news as opposed to all the other major companies with buildings here because they’re amazon. Most of the places around here won’t really cash flow but finding a place here that will break even and letting it appreciate while renting it out will probably do more for your net worth than anything, while if you’re trying to generate immediate cash flow buying really far out in Maryland and commuting in would probably be the move.

  • Rental Property Investor · MD · Member since 2018 · 287 posts · 205 votes
    6y

    @Bryan Rap I'm active duty and had similar questions upon my relocation back to the DC area. Consider DC sub-markets like anacostia, capitol heights, hyattsville or even suitland where you will be working! Sticker prices are not as big but we are definitely seeing growth due to proximity.

    I attended  @Kevin Leahy and @Russell Brazil 's first meeting last night near capitol hill and it was a 15 minute uber ride from my place in capitol heights. Smooth ride, incredible event.

    Good luck and don't be afraid to reach out as you transition to the area

  • Investor · Hyattsville, MD · Member since 2017 · 7 posts · 3 votes
    6y

    I agree with @Solomon Morris. Capitol Heights and Hyattsville are good MD alternatives for DC suburbs. More reasonable price points and plenty of tenants looking to move in. I live in Landover and currently rent houses in Landover and Landover Hills. Cheverly is also a really nice community but a little more expensive. They’re all are about 20 minutes from Suitland.

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