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Updated over 5 years ago,

User Stats

8
Posts
2
Votes
Raphael Chevry
  • Realtor
  • Silver Spring, MD
2
Votes |
8
Posts

Getting started when your new to investing

Raphael Chevry
  • Realtor
  • Silver Spring, MD
Posted

Hello all

I'm very new to real estate investing. I'm looking for a property that I can Brrrr in the Maryland area. I don't know where to start looking. Montgomery county is pretty pricey, and I looked at other areas like (PG county and Baltimore) but I don't know where to start. I currently live with my parents I'm in debt and currently paying it off, and will have it payed off in about a year. My credit is pretty good and I've been saving enough for a down payment so that I can apply for a FHA loan (once I found my target market) does anyone have any pointers on where I should invest? How much do I generally need for a down payment? I already know a couple of investors as well that'll be willing to invest in my first deal but I don't want to rush it I'm trying to formulate a plan. Here's my situation if anyone has any pointers or suggestions please let me know. Again I am a newbie and this will be my first rental property deal.

• I’m currently paying off debt and will be done on 12 months

• I live with my parents

• I work two jobs

• I’m in the process of getting my real estate license

•How much do I generally need as a down payment to get a FHA loan to invest in Montgomery county

• I have a good credit score

• I currently live in silver spring Maryland

Please help with some advice or pointers thanks a lot.

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