Is 30k enough to start? First time

[Abdul Qadir]

Hey guys, So I have saved about 30k I’m 22 years old living in New York. I make about 60k yearly and I’ve spoken with chase and they told me I could get a 250k loan with 5% down at 7% interest. Now I know that’s not enough to buy a house in New York I was looking at Dayton Ohio area. Any suggestions or tips on how I could be successful on my first attempt?

[Wale Lawal]

@Abdul Qadir

To do well in Dayton, Ohio's real estate, study the market, know the local rules, and plan for extra costs at closing. Get your loan pre-approved to make buying smoother. Pick a type of property you can afford and think about making money through rent, the property's value going up, or both. Check the property well and get it valued to make sure it's a good buy. Gather a team - a real estate agent, someone to manage the property, and local contacts. Keep your investment in good shape by finding good tenants, and keeping up with fixes and care. Continuously learn about real estate investing, find mentorship, and use resources like BiggerPockets and local REI clubs.

Good luck!