Updated over 9 years ago on . Most recent reply
Bought first property. Now what?
Location: Staten Island, NY
Home listed: $285,000
Purchase price: $255,00
Loan type: VA Loan 30/Yr (4.1%)
Hello all, so quick background. Bought my first SFH about a few months ago which I now live in. Nice neighborhood, got a good deal on it. I used the VA loan and I know I could have put 0% down, but instead I put 20% down. The reason I put 20% is so I can have al lower monthly mortgage payment. I then hired a family contractor to do much needed work to the interior of the house the way I found suitable. That cost close to 30,000k. So in total this house is costing me close to 290,000. Now I still have some money in my bank account, but not sure what steps I should take. I am interested in getting a small multi-family out of state. I just don't want to fully eliminate all my funds because I still need to pay my mortgage and also I believe its important to have some type of emergency funds. Any tips/advice would help.