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Updated about 5 years ago,
How much of a safety net for a first house hack?
Let's say I buy a property for $150,000
3.5% down puts me at $5250 for a down payment. How much additional should I be looking to save for a safety net for the property (vacancies, repairs, closing fees, ect). I will also need to furnish somewhat since I currently have no furniture as I live at home.
I have a personal emergency fund but I want to keep this separate than my property fund. I don't want to have the bare minimum saved when I "pull the trigger" on a property. I want some peace of mind in case an unexpected situation occurs.