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Updated about 5 years ago on . Most recent reply

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Justine Phillipson
  • Real Estate Agent
  • Scottsdale, AZ
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How much money did you have before your first investment?

Justine Phillipson
  • Real Estate Agent
  • Scottsdale, AZ
Posted

How much money did you have saved up before buying your first investment? I had saved up 45k, and then used 20k of that for my first deal. I am trying to decide if I should leave the rest in mutual funds, or use it for my next deal.

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Aaron K.
  • Specialist
  • Riverside, CA
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

If that is all you have left it is probably time to beef up savings again, because you need reserves for your property as well as an emergency fund for yourself.  

PS mutual funds in general kinda suck due to the high fees, I'd look into ETFs and save yourself the management fees every year.  "Financial advisors" recommend mutual funds because they get commissions from selling them.

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