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Updated over 7 years ago on . Most recent reply

User Stats

20
Posts
5
Votes
Faith E.
  • Brooklyn, NY
5
Votes |
20
Posts

Question on initial saving

Faith E.
  • Brooklyn, NY
Posted

Hi All, 

I'm still fairly new here.  I have been saving as much as I can on my low salary.  How much do you think is a good amount to save before making the first purchase, especially knowing that there could be potential problems after purchase? I.E they roof needs to be replace, the furnace goes out?

Thanks for your help.

Most Popular Reply

User Stats

59
Posts
11
Votes
Jia Liu
  • New to Real Estate
  • Orlando, FL
11
Votes |
59
Posts
Jia Liu
  • New to Real Estate
  • Orlando, FL
Replied
I am currently educating myself while saving $10k. Once I reach $10k, I will start reaching out to agents and putting down offers. Once I reach $15-20k, I hope to buy my second buy and hold. Of course I will be investing out of state. I can't even rent a toilet for $20k in my area.
  • Jia Liu
  • Loading replies...