Starting out with conventional mortgage

1 Reply

Hi. I am trying to get into rental properties. I am ready to buy my first property however little confused as to where to begin. I’ve spent some time on BP forums, listened to a few podcasts and watched a few BP youtube videos. I just got a preapproval for $325k. How would you start? I live in DC metro and it’s extremely difficult to find a house where I could house hack for 325k. I have about 20k saved up for down payment. I make about 68k a year from my full tIme job. I’ve been looking in Baltimore area for rental properties. It seems like I can find a decent 2br/1.5 ba rowhouse for about $130k in Baltimore however it doesn’t seem like it will cash flow more then $100-130 a month. What would you do in this situation if you were starting out? Thank you!