About To Make My First Offer!

[Justin Johnson]

Almost 18 months of saving myself poor and I'm about to pull the trigger on my first offer on a duplex/house hack. Freaking out a little bit here. Before COVID-19, I qualified for FHA loans, but not now. So, I'm looking at 15% down on a conventional mortgage and after re-analyzing the property with the new numbers, they aren't as wonderful as they were before. However, with one side rented, it is still cheaper, by about $450, than the rent I am currently paying for my house right now. It would allow me and my wife to save more money, or have a little more of a life then we have for the last 18 months. After all is said and done with the closing, I'll have about $6,500 left and will still be saving my $1,200 / month from my full time job, plus the possibility of saving a little more each month from the rent I am not saving. I am needing some encouragement and words of wisdom at the moment, cause I'm scared as hell about jumping in and going for my first deal!