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Updated 7 months ago, 05/01/2024
Looking for guidance on buying my first property
Hi everyone, I am 32 and think I am finally ready to buy my first property (mentally at least.) I’ll be moving to DC in the fall and will be living there for around 3 years. I’d like to buy a property with a separate unit (eg basement unit) that I can rent out at the same time while living there. I’d plan on renting out my unit when I move out. But I’d love guidance on how to find out if it’s a good idea to buy in DC, how to know if the property will cash flow, how to find the type of property I’m looking for etc. I do have a lender I’ve started talking to to find out what I qualify for. I’ll be making between $250-$300k, with some credit card debt I’m hoping to get to by August. Any guidance would be appreciated!