My husband and I are planning buying our first investment property this year. We are currently living in a house we own that we plan on renting out. My husband is in school so we are on one income until summer.
My question is, once we’re on two full time incomes, what would kind of cash reserves should we have before we start buying? We’re looking at starting with a duplex we can house hack, flip and then move to our next property while renting out our current single family. We have a private investor that’s planning to
We’ve been preparing over the past year and a half but would just like to make sure we have everything prepared that we can.
This is going to vary by person and your risk tolerance, but I guess the best answer is as much as possible.
If you get into creative financing, you can get into investing a lot sooner with having fewer upfront costs.