Financing my first deal

[Patrick Nadolny]

I have been researching properties in the Baltimore MD area for months now and have a good understanding of the neighborhoods I want to invest in (around $100-120k). I now need to start getting financing in place, but I don't really know where to start. I bet many people are in the same position as me and are wondering the same things so hopefully this discussion can help answer some common questions.

I have about 20k saved up and I've only had a full time job out of college for 1 year. Where should I start? Calling banks? Who is most likely to be willing to loan money to a 23 yr old right out of college? Will I have to pay 20% down payment no matter what (I live in DC so I can't FHA/house hack)? How much should I really have saved up before I buy?