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Updated about 5 years ago,

User Stats

10
Posts
1
Votes
Matthew Medcalf
  • Rental Property Investor
  • Milwaukee, WI
1
Votes |
10
Posts

How much of a safety net for a first house hack?

Matthew Medcalf
  • Rental Property Investor
  • Milwaukee, WI
Posted

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. 

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