First time buyer questions

[Kenzy J Forler]

Hello everyone, my name is Kenzy and I'm planning on making my first duplex purchase before I start school back up in September of 2016 so I can live with minimal housing costs. I started learning about real estate investing about a month ago and came across this great site recently. I'm looking for a duplex in the Tacoma, Washington area for around $190,000-$210,000 and was wondering, if I use an FHA loan about how much money would I need for closing costs and other fees after the initial 3.5% down?

Any and all feedback/advice is greatly appreciated!

[James Holland]

Hi Kenzy. Sounds like a great plan and goal to shoot for next year.

In the "analyze" tab there is an investment calculator.  There is also a great video explaining how to use it with pretty darn good accuracy. I think that is exactly what you need. That will give you pretty darn close numbers so you can know what to expect next year

It is here  https://www.biggerpockets.com/real-estate-investment-calculator

Good luck bud