How much in the bank before first purchase?

[Aaron Pike]

I just joined BP today and very excited to interact with the community here. I am sure this question has been posed before (I searched recent forum posts but didn't see exactly what I was looking for). 

How much did you have in the bank when you purchased your first property? AND, looking back do you think you were too conservative or too risky in making your first purchase?

My stats (no laughing):

Cash: 40K

Retirement: 70K (403b, Roth-IRA, SEP IRA)

No Debt