All Forum Posts by: Christian Wilson

@Michael Noto Thank you for the advice! I was only planning on saving around 3 months of total expenses with everything I have in my budget. I've estimated that with a $145,000 house the PITI would be around $1000 per month but my expenses total are $1600. So I should save closer to $6000 rather than $4800?

@Theresa Harris I see now, I was getting my number from 3.5% of the purchase price, not 5%. Thank you for your response :)

@Cameron McCown it actually helps a lot! I wasn't aware of the 1.75% fee for doing an FHA loan. Thank you so much for your input!

@Cameron McCown I was planning on using an FHA loan to purchase the first property

@Theresa Harris I will be moving out with current roommates! Why do you say $7.5k? Are you adding the down payment with closing costs?

@Evan Wiesner I think you make a very valid point, I was more focused on one property at a time and not setting myself up to knock out multiple over the next few years. I’ll start looking into it now and contacting some brokers!

@Josh Miller I didn’t even know what that was! Thank you so much, that’s awesome advice!

@Josh Miller I will have all debt paid off prior to purchasing a home. Point #2 was really good, I will figure that into my calculation! As for point #3, I would be managing it and just living with a few friends so I was thinking also thinking around $500 per month but wanted some feedback from others so thank you for the reply!

@Evan Wiesner thank you for your input! It seems like multi family are something to consider just to generate extra cash flow

@Kevin S. I currently have a roommate that would move in with and we just wanted to get another of our friends to move in with us. I wanted to go the SFH route just because of the better locations. It is something to think about and if I could find a multi family I'd love to do that! That you for the advice and I will reach out to a local agent to start talking about finding some properties!