All Forum Posts by: Jamal Atwell

Although I don't have any advice I thought it'd be great to connect with you! I'm IT by trade but I have a deep passion in RE as well. I've read the same books as you funny enough. :D

I started real estate courses on the 12th but they got cancelled due to the instructor passing away. Where are you taking your courses as I have to looking for an alternative? The courses I was taking were in Kingstown, Alexandria

Hey BP,

I currently live in Washington D.C. and i'm 23. I can't quite afford these $500,000 houses for a 2 or 3 bedroom so I've got to look at alternatives. My lease expires in April so I'd rather make moves before then.

Should I, invest in the cheaper areas in Maryland like Prince George's County or Montgomery county. I can afford a nice looking 2 or 3 bedroom home for $300,000 with 5% down. The catch is that those areas are significantly less nice than Arlington, Alexandria, West DC. Higher crime, and I'm not sure if they will appreciate as nicely. Also, after doing the math it seems properties in DC are AWFUL at cash flow. I haven't found a single property that cash flows at least $100 after I would move out. I may be able to sneak by if I find a really good foreclosure.

Or, buy an out of state property in somewhere like Oklahoma city with 20% down but for $100,000. I can't reasonably expect at least $200 cash flow investing there. However this will deplete all of my capital and I will have to continue to rent.

Any advice from anyone would be appreciated! Should I look for appreciation in the DC market or cash flow elsewhere?

@Emily Du Plessis Thanks for the tip! I took a look at the winchester area and the homes are priced very much lower!

@Jay Hinrichs Thanks for the advice. The RE license has already been in my plan. I'm getting started in December when I finish my last semester. However, I don't know how much I can do joining a team as a part time agent. I have a good gov. job that I don't want to give up just yet (still have rent to pay).

Is there anything to be said of part time RE agents? My age range isn't really buying homes for obvious reasons so I don't have the prior clientele or contacts either...

@Chris Clothier Thanks! I have been looking for a mentor but no luck thus far. No one on BP was interested in my post. I'll have to look in other places!

@Ali Boone glad to hear they your endeavors have been successful. I have read that investment properties may be harder to get loans for and more expensive. What percent interest can I expect to pay on investment loan? And also I'm going to assume you do but when you purchase properties do you visit them first?

@Anthony Gonzales Why would I be using Hard Money to purchase a home? Wouldn't I want to use a conventional loan since HML aren't long term. I'm confused...

@Paul Timmins Thanks! I'm trying to make this financial freedom thing work for me so I save as much as I can. I'm nervous about out of state investing as well but I guess it can work if you do it right.

I currently live in the DC area and unfortunately getting anything going here requires a large reserve of capital. I'm 23 so I'm still in college (last semester) and am currently gov. employed,I would like to invest but can't afford it in DC.

Would any of you recommend buying an Out of State Rental property in a place like Texas or anywhere else where the average home price is $80,000-$100,000? I have about $20,000 saved up to invest. 

If I can obtain one of these properties that rent for about $900-$1,000 with $400 mortgage payments. I should have it cash flowing buy about $100 after repairs and vacancy is accounted for.

Does this seem like a good plan?

Hi Bigger pockets! 

I've been an active reader on the forums for about the last year and I'm ready to undertake my first deal.

 I'm sure many of you are busy but one thing I learned from the BP podcasts is that it doesn't hurt to ask, so if anyone in the DC area would like a helping hand I'd like to be that person!

 I"m willing to help with a to help with or partner with on a project in exchange for experience. I'm not really in this first project for profit but I am in it for experience. It's time to put the readings to the test!

Excuse my ignorance but what would be the advantage to not seal? Wouldn't anyone be able to open up and read the letter or it get lost?

Not that anyone would want to...

Welcome Jarrel! Good job making the first move.

@Bryce Hinton That's awesome you're starting so soon Bryce! Here I was thinking I was early. Yea, I'll be at the TractionREIA in Tysons on the 26th if you decide to go.