All Forum Posts by: Kevin Koch

Hi there,

Like the title said, I am 23 years old, currently a full time federal employee and also working towards getting my MBA. I have a bachelors degree in Accounting and I love listening to Bigger Pockets Podcasts. I could absolutely see myself working in Real Estate later on in life, but right now I just want to get my feet wet.

I'm looking for a mentor that I could email real estate questions about or even shadow.

I am willing to do research or even analysis in return. I would just like to gain knowledge and insight about what a career in Real Estate is truly like.

I am located in Central PA, so if anyone has any connections around here that would be great, if not, I'm still willing to talk/email anyone that could potentially give me real estate experience.

Thanks for your time,

-Kevin

Hi there,

My name is Kevin, I'm a 23 year old Business Analyst for the Department of Defense, I have a BA in accounting, currently working to get my MBA (online), and am interested in purchasing my first property.

My family owns a beach house in Ocean City Maryland. My Dad has found out that our neighbors are selling their (second house which they have used on occasion for vacation since the 80s) most likely for 100-130K. It is a 3 bedroom, 1.5 bath, house with a decent sized yard (long term I could see expanding the deck, adding a garage, or even building a new house next to this house. Local houses in the neighborhood have been getting any where from $450-$800 (depending on the busy season, 3/4 month during the summer) per bed room per month. I think that I can get a monthly mortgage payment of under $1,000 easily.  If I can put down 30K-50K do you think that this would be a smart investment. I really like the idea of owning this property because it is in a nice location, I can collaborate with my Dad's beach house in case any renter needed additional rooms or wants to rent out 2 houses next to each other (my Dad said he would rent his place out too) , decent sized lawn on the property, and the house needs to be fixed up on the interior (wood paneling/new dry wall, old carpets, out dated furniture, and older appliances). I live about 3.5 / 4 hours away from this house and often go to my Dads beach house on the weekends. I would love to hear any comments, concerns, or general thoughts about this potential investment! Some specific areas I have questions about are:

1. I am going down to look at it this weekend with my Dad, what would you'll recommend I look at in particular?

2. How much money would you suggest putting down / financing options?

3. Would you recommend investing in a property 3.5 hours away or should I look to stay more local?

Thanks again for any input!