New Investor in Spokane, WA (24 yo)

[Sean Bozigian]

Hi everyone, 

Originally from California, I moved to Spokane almost 2 years ago after completing my business degree at Northern Arizona University. I love living in Spokane and have a great job that I enjoy waking up for every morning. Real estate has always piqued my interest, but I've never thought of it as anything more than that. I stumbled across BP recently and was absolutely blown away by the content shared and the transparency shown by all of the members. I've spent the past months consuming as much knowledge as possible in preparation for my first deal. I know that there is still a world of information for me to take in, but I want to take action!

My girlfriend and I are currently renting a small apartment and before I found BP, the plan was to find a 2x1 home to rent. Instead of throwing away $1,000+/month, I see this as a great opportunity to start my investment portfolio.

What I'm looking for: A single family home. Looking to use a FHA 203k loan to purchase and renovate a home below market value. I plan to live in the home until it's eligible for refinance, then hunt for deal #2 (unless I can creatively finance something sooner).

The BRRRR strategy interests me quite a bit and in this scenario, although I'm not renting it out immediately, it shares a lot of the same elements and can provide me with exposure to much of the process.

I am looking for recommendations from local investors for agents, consultants, and contractors who have experience with 203k loans. From everything that I've read, there can be a significant amount of hoops to jump through and it makes the process much more efficient if you have a team who has experience working with the FHA on these type of deals.

Any thoughts are appreciated. I'm also excited to join some local clubs and connect with others who are in similar positions! I'm here to learn, seek advice and create lasting relationships. 

Thanks in advance,

Sean