I have been reading forums for the last couple days now, but wanted to get some fresh opinions. Before you start investing in RE I would assume you want some amount of cash as a safety net put away. How much would you suggest to put aside before attempting to purchase my first property?
Then with little capital I would be looking to put XX% down. Again, I'll be a first time buyer, what would be some good options for down payments, about how much should these properties cost total?
@Josh Gordon welcome to the site.
The cookie cutter answer here is 6 months of reserves. This would be enough to cover all the expenses of the building for 6 months. It would be very prudent & responsible of you to make sure you have this amount. However, did I have that when I started? No not at all. It worked out well for me but my risk tolerance was high. I knew this is what I wanted to do & was not willing to wait.
So depending on the building this could be quite an investment in itself.
What were some of the best reads or advice/tips you received along your Investing Career?
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