Beginner's Northern VA REI Strategy
Hi BPers,
I recently graduated with a Master's Degree and I will begin work as a Human Capital Consultant in Vienna, VA next week. My life goal is to stop working and invest in real estate full time. After years of researching the topic (BP podcasts, books, online courses, etc), I'm ready to dive in. I want to use the capital earned from my job and an FHA loan to obtain a buy and hold owner-occupant property (live with rent-paying roommates) in one of the Northern VA cities. I can save up quite a bit of funds because I'll be living with my grandmother for a year to help me save money before I buy a house. I would like to be able to close on a property one year from now.
I have a few questions regarding my plan:
1. How much money should I save to buy my own property in Northern VA? (Making a 60k/yr salary, no school loans, and no rent payments for 1 year).
2. Are there any flaws in this plan or is there a better strategy based on the information I've shared?
3. Is this a good first step towards a career in REI?
Any other general thoughts or comments are welcomed. Thanks so much for reading and sharing your thoughts with me!