REI Newbie Accepting DC Job Offer & Looking to House Hack

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REI Newbie Accepting DC Job Offer & Looking to House Hack

Terrence Malloy
Member since 2019 · 1 post · 1 vote

Hey everybody!

I'm moving to the DC later this month for a RE-related job with the city, and looking to get my bearings so that I can purchase my first house hack by August.

Briefly "About me": I've finally ended months of trying to get a job in commercial RE, but started down this road to ultimately become a real estate investor. Got my MBA from a top-30 program in 2018 and joined a software startup that shuttered in 2019 (you likely won't guess why...). Now I'm ready to balance the time I spend with my head in books and excel with getting my hands dirty and directly making things happen. Also recently went alcohol-free, so have an abundance of time and energy to spend building value and wealth through RE!

Looking forward to connecting, collaborating, and learning with you all. Get in touch and let's grab coffee!

All the best,

Terry

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y
    Originally posted by @Terrence Malloy:

    Hey everybody!

    I'm moving to the DC later this month for a RE-related job with the city, and looking to get my bearings so that I can purchase my first house hack by August.

    Briefly "About me": I've finally ended months of trying to get a job in commercial RE, but started down this road to ultimately become a real estate investor. Got my MBA from a top-30 program in 2018 and joined a software startup that shuttered in 2019 (you likely won't guess why...). Now I'm ready to balance the time I spend with my head in books and excel with getting my hands dirty and directly making things happen. Also recently went alcohol-free, so have an abundance of time and energy to spend building value and wealth through RE!

    Looking forward to connecting, collaborating, and learning with you all. Get in touch and let's grab coffee!

    All the best,

    Terry

     Pre welcome to DC, the greatest city in America. Highest incomes in the country. Housing at first glance appears expensive, but with a little analysis you find out that housing trades at only 4.5x incomes here making it pretty affordable measured against how much you make. 

    Lots of people who move here are also surprised by our lack of multifamily housing. Less than one tenth of one percent of the metro areas housing stock are multis. The largest concentration is in DC proper where 4% are. (And thats a shrinking number due to condo conversions.

    DC itself is smaller than 3 of its major suburbs. 

    Lots of strategies to choose from in the area, but the rent by the room strategy is growing in popularity as it helps to achieve about double the market rents.

    [email protected]301-893-4635Podcast Guest on Show #192
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  • Chris Coleman
    Rental Property Investor · Washington, DC · Member since 2015 · 429 posts · 393 votes
    6y

    @Terrence Malloy there are a lot of REI Meetups in the DMV...single family, multifamily, and commercial. You can meet a lot of like-minded people.

    @Russell Brazil actually hosts one of the largest ones in DC.

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