All Forum Posts by: Kevin Tunnell

@Mike Bolen

Hey Mike, thanks for the reply! Assuming I only put 3.5% down, I see now that I could have a down payment within a few months. I only worry about how well a property in the North Bay will Cash Flow seeing as my mortgage would be higher with such a low down payment. I have looked at a lot of properties in the Vallejo area that are certainly affordable. I know there’s some good and some not so good neighborhoods there. Thoughts?

Hi everyone! My name is Kevin Tunnell and I am new to Bigger Pockets. I just started my first (what I like to call "Big Boy Job") and am trying to save up to make my first real estate purchase. I am 23 and live at home with my parents in Napa, CA to help cut down my expenses. I have no debt aside from a car payment that is a little over 200$ a month. My net income is somewhere in the ballpark of 4000-5000$ a month. Seeing as I work in the Bay area, I'm thinking it may be best to look for either a duplex, triplex or 3 bed/ 2 bath home on the outer edge of the bay area (somewhere still commutable) to purchase. Another option I'm thinking of, is purchasing property out of sate and remaining at home as long as my parents allow it. My next question is, would it be better to pay my car off ASAP, or live with the car payment and begin saving for my down payment, closing costs, etc. for the real estate? I'd like to make a purchase within the next 1-2 years so maybe best to keep my cash in a normal savings account with the local credit union for liquidity? Any and all advice is happily accepted here!