All Forum Posts by: Patrick Nadolny

I have been researching properties in the Baltimore MD area for months now and have a good understanding of the neighborhoods I want to invest in (around $100-120k). I now need to start getting financing in place, but I don't really know where to start. I bet many people are in the same position as me and are wondering the same things so hopefully this discussion can help answer some common questions.

I have about 20k saved up and I've only had a full time job out of college for 1 year. Where should I start? Calling banks? Who is most likely to be willing to loan money to a 23 yr old right out of college? Will I have to pay 20% down payment no matter what (I live in DC so I can't FHA/house hack)? How much should I really have saved up before I buy?

@Vernon Bond I've been looking at the Hollins market area for buying my first property. I know this thread is 5 months old now, how has the neighborhood/property been? 

@Russell Brazil Thank you for that insight, I was under the impression that they still offered that program. Do you have other suggestions for buying with low money down (other than FHA because I won't be living there)?

@John D. I was looking at houses in areas that seem safe but are middle/lower income, I definitely want to take advantage of the cash flow from lower income to get started. My range right now is $60-100K and ideally it would be turn key or small updates.

I'm a 22 year old investor (right out of college) from the DC area looking to find my first deal in Baltimore MD. It looks nearly impossible for a young investor to break into the DC area because of the high prices so I'm looking at Baltimore. I've analyzed a ton of deal in the area and I'm looking to potentially buy an REO from HomePath to take advantage of low down payments. I have friends who have solid investments in the Canton neighborhood but I'm looking for higher return than that (because I will have to pay for property management). I found a couple good deals in the Hollins Market neighborhood and wanted to get some thoughts on that area. I'm new to investing so any thoughts on HomePath/Baltimore/property management would be awesome. Thanks for the help as I take my first steps into real estate!!