First time DMV investor advice
Hi all! I’m trying to learn as much as possible in doing my first deal but have a few questions.
I know Multis are hard to come by in the area, so trying to figure out a house hacking/rent by the room strategy. Ideally, I’d like to find a place where I can live in a basement and house hack the upstairs or vice versa (S.O. and I would like to at least have our own kitchen space. Other things are flexible) I’m Open to various locations in the DMV but need help targeting them.
I don't want to bother a realtor just yet as I'm in the middle of a lease and using that time to save and do research.
Secondly, I know ADUs would be good but I'd only like to live there the minimum and then move out and keep it as a Rent-by-the-room strategy. I don't think I can do that with an ADU, right?
So my main questions are:
1. What type of place should I look for?
2. Where do they exist?
3. What's the price point I should be targeting (I'll need to make sure I can save enough to even consider, if not, all bets are off :) )
Most Popular Reply
1. There’s lots of basement + upstairs plus rentals all around DC, Virginia, and Maryland. Where do you live now and where do you want to live?
3. Price point varies widely. I personally think Mount Rainier / Hyattsville is showing strong appreciation (but higher taxes than DC) and has such properties in the 300s with easy access to DC. If your budget is 750 you have a lot more options.