All Forum Posts by: Aaron Ray

@Steve Bracero House Hacking is definitely something I would like to do, preferably a duplex or atleast a house with separated units. Not really looking to live in the same living quarters as someone else, especially because I don't think my girlfriend would appreciate that haha. I do plan on getting started using an FHA Loan when the time comes.

@Craig CurelopThanks for the advice Craig! I live in the D.C. area, so if I ever come across something I could house hack and afford, I'll be jumping on it.

@Ryan Detig Thanks for the help! In your first step, what exactly did you mean by "and cost later when I wanted to see how much a house would rent for"? Are you saying that you would follow a house on the market, and then after it was bought by someone, you would continue to follow it and then see how much they rented it out for? 

Can you explain to me why building a relationship with a wholesaler would be beneficial? I've listened to a couple podcasts about wholesaling, but it's not something I fully understand.

Thanks again for your response!

Laura Williams I agree 100%. It is impressive, but there would be no story without the kid's rich parents guiding and aiding him. I'm 22 years old and still waiting/saving for my first deal. I first got interested when I was 16, but influence guided me into college where I came out with an engineering degree and a lot of debt. If only my parents were capable of buying me a $500,000 investment property...

So, I really want to get involved in real estate investing, preferably buy and holds, but I love my job. What are some things I can do to, at minimum, start getting my foot in the door? I just graduated college this past May an an engineer, so I don't have a whole lot of extra cash to buy a house yet... What are some ideas? Through the BiggerPockets podcasts, I've heard about seller financing, and financing houses with other peoples money, but I feel like that'd be a little difficult as I have no track record. So please, if you have anything to add, I'd love to hear it, even if you told me to just save 800 bucks a month or something until I had about 10 grand for a down payment.

@Lee Fahy House Hacking is definitely something I have thought about.  An issue I keep running into though is the fact that I live in the Washington D.C. Metro area... housing prices are sky high here. So I need a way to find those good deals right away or something!

@Tim West Thank you for the advice. My biggest obstacle right now is actually getting started. Some of my biggest questions (which may depend on scenario, risk tolerances, and other factors) are how much money do I need saved up to get a first rental house or flip? How do I know what I can afford? I currently rent myself, should I keep renting and purchase an REI property, or should I focus on getting a house for myself then get an REI property? Questions like that is what I've been pondering over.

Russell Brazil thank you for your response, I did not think of it that way. Would I use my gross salary or net salary?

Hello! Anyone from the D.C. Area? I just graduated college from Penn State and I'm currently splitting a house rent 4-ways with some friends in the D.C. area. My original plan to get started into real estate investing, was to buy a duplex, live in it and rent the other unit, or possibly even the BRRRR Method. But my plans have now changed because of moving to the D.C. Area. Honestly, I have no idea how I'll ever afford something in this area. I was originally planning on the Erie, PA or Pittsburgh PA areas, but now that I'm in the D.C. Area, I don't know how I'll be able to do it. Does anyone have any ideas other than working 4 jobs to raise money? haha

Ben Wilkins thanks for the advice, I will take that for now and dig a little deeper. I'm not exactly sure how to analyze deals in depth, maybe you could help me fill in the gaps someday on expenses I leave out or concepts I don't understand, but in the time being, I will try to get a better grasp on it myself.