Capital Requirements for First Timer

[Griffin Taub]

Hello and thank you for reading.

This forum is a fabulous resource but I have yet to post so here it goes.

Located in the DC area, young motivated professional looking to get my feet wet with my first investment. I am very interested in a live in flip or a multi family that I can live in and rent the other half out. My question to you all is what amount of capital I will need for this whole adventure given the area where I am located?

I appreciate your time reading this and any feedback given.

Thanks,

G

[Francis Dayamba]

I am also looking to buy a 4 Unit Multi-Unit in DC. I have focused most of my attention to zipcodes 20001 and 20002. Specifically in the Trinidad area. Most 4 units in that area go for anywhere between 500k-800k. So if you go the FHA route, you would need 17.5 plus closing costs, which I am also estimating to be about 3.5 %. Next week I plan to go see a Multi-Unit in that area with my agent and the following week I plan to sit down with a Mortgage Loan Officer and see exactly how much money I need for the deal.

If you would be interested in attending either the visit with the real estate agent or the sit down with the mortgage loan officer, let me know.