Real Estate Agent · 1300 Bellona Ave Unit D Timonium, MD 21093 · Member since 2021 · 14 posts · 6 votes
Hey! I just wanted to know when the best time to purchase my first investment property would be? I am a 23 year Assistant Property Manager, and soon to be college graduate. I barely have any money to my name and was wondering if anyone could provide me with some guidance.
Best time would be when you have some more money to your name, and your credit is in good shape. Don't expect to find a deal where you use none of your own money.
You're welcome. You're on the right track being here on BP. Some things to consider now, before you actually start investing, is to determine what type of investing you think you'd want to do (Rental Property vs House-hack, Fix & Flip, vs Airbnb, vs Wholesaling). Take your time. Credit will be very important (almost more important than cash, but not really) so if you are building your credit, make sure to get a clean report with scores above 700 for best rates. Money is important, so begin to save as mush as you can, wherever you can.