Seeking Advice on Securing Funding for First Multifamily Investment

[Sasha Agwah]

Hi BP Community,

I recently joined after discovering Real Estate Rookie podcast, and my partner and I are looking to invest in real estate in Maryland. I just graduated and am currently working as an intern at a government agency (for up to one year). My partner has a stable full-time job, but his photography business is not as steady as he'd like.

We're interested in purchasing a multifamily property in either Baltimore, MD, or Hagerstown, MD, to kickstart our real estate journey. My credit score is over 720, while my partner's is around 541 (on both Equifax and TransUnion), due to a collection that we've since paid. We're waiting for the collection to be removed from his report. We're considering using an FHA loan, but due to his credit score, we haven't started the preapproval process yet.

What steps would you recommend we take to secure funding for our first investment?

Thanks!