All Forum Posts by: Jade Jamison

I just signed up for an 8k real estate course. I only had 13,000 in savings, but figured spending over half to invest in knowledge was worth it. I paid late last night and woke up with some worries. I am unsure if I should reach out and try to cancel.

Do you think it is worth it to pay for a real estate mentor? His name is Zack Kepes, owns a lot of real estate (over 200 units) and has been in the business a long time. I spoke to one of his assistants, I am student #51. I am just breaking in and would love some guidance on how to build up funds and acquire my first property within the next 3 months.

Before buying the mentorship, I was planning to purchase my first property using an FHA loan in the next two months. I don't know which route is better. Having a mentor that might help me acquire properties quicker, or asking for my money back and going the traditional route to obtain my first property.

All advice appreciated!!!! Thank you (I'm 23 and fairly new to this)

Hi, all. So I have about 11k saved right now (I’m 23. No kids, no bills really other than car note/insurance/100 mo for student loans) I have been looking to buy my first property. I live in the DMV (DC, Maryland, Virginia) area where you either spend over 200k on a property, or get a plot of land for MAYBE cheaper. It’s expensive.

I found a townhouse in Temple Hills, Maryland. About a 10 min commute to DC. It is 3 bedrooms, finished basement with an additional FULL shower in basement. It is 215k, but I know I will have to bid higher to win so 225k or 230k realistically .

I am planning to live in the basement and rent out the top 3 rooms for 750/each. HOWEVER, after the down payment and closing costs...I’ll be paying 12k (that’s with down payment assistance)

My question is...is it worth it to spend everything I have to acquire my first property? I will want to get tenants within a month to help pay and start saving again...but it makes me a little nervous going from 12k to 0. 

Also...does anyone know about the area? Finding trustworthy tenants specifically? I plan to renovate but want to make sure this is an ok deal. Thanks for help!

Hi Bigger Pockets Family,

I am interested in purchasing my first rental property and am stuck between choosing a SFH or townhome. I was pre-approved for 200,000, which is not a significant amount ESPECIALLY in my area (DMV: DC, MD, Virginia...looking in Maryland). So I am pretty positive townhomes are the most realistic option for me. So my question is:

1. What are the benefits/cons to having a townhouse rental property

2. Can you renovate the interior of a townhome? (Very real example: If I want to add a bedroom, breakdown a wall, or make the basement a 2nd suite?)

3. Although I plan to hold and rent the property, I hear townhomes don't appreciate much, so even with renovations inside, if I think about selling in the future, is there a chance I can still have equity/profit?

Thank you! If there's anything else you can think of about renting out townhomes...I'd love to hear!!!

Hi, there! I am just starting out on my real estate journey. I am pretty young, 23, but have been determined to acquire my first property and start my journey/portfolio. 

To fill you in: I recently qualified for a loan amount of 200,000. That is not a high amount at all in the DMV (DC, Maryland, Virginia) location with a focus in Maryland areas surrounding DC. There are barely an houses on the market that low, and if one appears, it's literally under contract an hour later before I can even see it! 

My question is...should I just settle for a townhouse as my first investment property rather than a SFH? I am nervous about HOA fees, and rental rules (as I want to rent out other rooms), and renovating. I mean...can you even renovate a townhome?? (Ex. tear things down, build another room etc.)

I am getting pretty discouraged. The market is a bit crazy. Advice would be much appreciated, thanks!