Cash needed to make first purchase

[Donald Aleshire]

Hi all, I wanted to get feedback in regards to making my first investment into Owner Occupancy. My current loan limit is $400k and let’s make an assumption that I purchase the investment property at its full loan limit. I have roughly $25k of cash on hand. Assuming I use a 5% down payment on a turnkey property, how much additional cash on hand would everyone recommend to have to be best prepared? I also want to make the assumptions that I won’t make a purchase that doesn’t total cover my loan, interest, expenses, etc. Any and all feedback is welcomed! Thanks in advance!