Updated over 5 years ago on . Most recent reply
Hungry Newbie from Ashburn, Virginia
Hey BP community! My name's Zac and I have no background in real estate. I am a Business Development Manager for a security technology company in Northern Virginia. I have lived in Virginia for the past 20+ years and due to recent life events, have now fully committed to becoming a student of the game! I want to be the best and learn it all and I am willing to put the work in to achieve these goals.
I am interested in building a portfolio of properties and need to do more research to define exactly what niche I am going to pursue. As of now - BRRR looks like something that appeals to me the most, but as I continue to study I will be able to answer this question better.
I am ready to start this journey and welcome all advice, criticism and friendship along the way.
Any suggestions on the most impactful/helpful first steps that you took on your journey are appreciated!
BTW - Currently reading "The ultimate beginners guide to real estate investing" free PDF from Bigger Pockets.
Most Popular Reply
Hi @Zac Hall! Doing a lot of research on BP and YouTube is a great way to get started. I got started with real estate investing by house hacking- renting out my basement, specifically.
BRRRing can be fabulous- biggest challenge with that in NOVA is that renovation costs can be high. The supply of contractors is less than the demand for them, so the good ones can charge quite a bit. Doesn't mean it's not doable, it can be!
My biggest advice to someone starting out is: (1) be conservative with numbers. (2) Realize you will make mistakes the first time, and plan accordingly. (3) The Northern Virginia market is different than most of the country: more expensive, but also good appreciation and less downside potential. Keep that in mind as you look at non-local investing advice/resources.