All Forum Posts by: Brandon Arnold

@Aaron Keckley My ultimate goal is financial freedom. I can state that with much confidence.

@James Wise That area is my biggest concern at the moment. I have around $10k I can put up at the moment. However that is not even close to 20% down anywhere in the market I live (McLean, VA). Financing is definitely an area of concern for me.

@Ned Carey I acknowledge I am no where near being ready to make an offer. However I want to figure out the best way to generate the financing needed. So far I've read up on FHA and private lender financing. I am very skeptical that a commercial bank would lend to me given my lack of experience.

Hello,

I've rented my entire life which has been a large inspiration for me to get into Real estate investing. I feel that the buy and hold strategy would best suit my style given my erratic experiences investing in equities short-term.

I've been reading the UBG in addition to several different articles and podcasts. While I'm still very much in the novice stage, I'm slowly starting to pick up on some key concepts. After assessing my current financial situation, I've come to the conclusion that I can invest roughly $10k of my own funds in a real estate deal at this time.

What I'm having a hard time understanding (and please forgive my noviceness) is which steps to take first. For example, before searching for an property (or possibly a partner), should I first secure financing? If I close on a deal, how soon thereafter should I begin searching for possible tenants?

I know these questions may seem obvious to those with experience; but I'm simply trying to gain a better understanding of how to develop a methodic approach to investing.

Thanks,

Thank you all very much for the support. It is very much appreciated.

@Roger Lin That sounds like something I would definitely be interested in. I'm looking to network and that seems like a great opportunity. Plus I'm a quick trip away from the Fairfax area.

I figured this would be the best place to make my first ever post on BiggerPockets.

My name is Brandon and I am a 27 year old living in McLean, Virginia. I work full-time as a bank regulator and spend a fair amount of time traveling across the country. My limited knowledge of real estate has been confined to farmland since that is the primary focus of my job. While I think farmland is a great investment for the long term; I'm also vary weary to invest near term given the meteoric rise that agriculture has experienced over the last 6+ years. Commercial investing seems very intriguing to me; however I do not feel I have nearly enough capital for such a venture.

I started trading stocks/options about five years ago and have had many great successes, and many great failures. Through it all I learned the biggest factor in the mistakes I've made has been letting my emotions get the best of me (i.e selling on intuition, not sticking to my strategy, etc.). I've long been attracted to the thought of investing in real estate; however I've always written off the idea since I felt I didn't have nearly enough capital and that real estate deals are far more complicated than purchasing a stock. Though the more I've researched, the more confidence I have gained that this is absolutely a viable investment.

My short-term goal is to find a mentor and possibly even an investing partner. I've been browsing the boards here in addition to reading many articles trying to learn as much as I can. I'm still learning how to start and I'm not entirely sure what steps I should take first. Such as, Do I secure financing before making an offer?, How soon after closing until I advertise for renters, etc.

Above all, I'm eager to learn more and glad I've found my way here.