Is it good idea to buy 1st property after my 1st wholesale deal

[Javaughn Harkness]

Just got my first deal from a wholesale deal now thinking about buying my first property fha with the money I made. Any suggestions?

[Bryan Balducki]

@Javaughn Harkness congrats on the wholesale deal! Do you have reserves to purchase your first property? I’d make sure you at least have 10-15k in reserves not including your down payment. If so, make sure the numbers work on the property. If they do and you have the finances to cover property emergencies, then go for it! Find a good lender that understands investing and put the minimum down, so you have

more cash in reserves. It also depends on your goals…do you plan to hold this property long term? Are you using this property as a rental or just to live in? House hacking is a great way to get started!