New investors in the Washington County, MD area!
Hello BiggerPockets!
My name is Marshall Hoffmaster and my wife and I plan to start our REI journey at the start of 2023! We are looking to start out in our own backyard within the Washington County area of Maryland, more specifically, in the city of Hagerstown. Currently, our goal is to use an FHA loan and buy a 2,3,or 4-plex to-house hack, or at least that was our goal when we started our journey at the beginning of 2022. As we have worked towards saving and educating ourselves more, we are wondering if starting out with a house hack will be the best use of our efforts. Our biggest concern with this, and many of you may know where I am heading, is we are unsure as to how we can proceed thereafter. Once we use an FHA, we are left pondering how to further scale without spending an enormous amount of time saving for a larger down payment. We have been reading more about BRRRR as an alternative way to start as well as wholesaling as a means to raise capital. However, we feel as though those topics may be for more advanced investors. Therefore, any advice would be much appreciated, and I am also looking forward to connecting with any investors in my area!
Most Popular Reply
@Marshall Hoffmaster Welcome to BP.
Buying a property to live in and House hack is perhaps the best way to get started. The best way to get to your second deal is to get the first one done.