All Forum Posts by: Sole Angel

@Sara Habtom

the best way to get started is with a house hack.  period.  full stop.

Normally, for investment homes, you'd need to pay at least 20% upfront, which would be $20,000. Some lenders might let you go with a 15% down payment, making it $15,000. But remember, there are more costs like closing fees (2-5% of the property price), money for renovations (depends on the property's condition), and holding costs (covering a couple of months' expenses during renovations and finding tenants). While the minimum amount gets you started, having some extra money is helpful for a bigger down payment, dealing with unexpected fixes, and handling costs when there's no tenant.

what's purchase price, what are rehab costs, what are holding and financing costs?  do you have separate savings and emergency funds?  is this your first ever project?  do you already own, or do you rent?  have you talked to a lender?  do you have a property in mind?  where did the $100K come from?

if the property is $100K and the rehab is $60K you'll need 10-15% down plus closing costs plus holding costs - conservatively 16-24K + 5-10K + 6-12K = 30-45K at least

and you don't want that to be all your savings... so you'd need separate savings and emergency funds - i'd want 25-50K depending on situation, lifestyle, etc.

so 50-100K i guess

but that's just a horseshoes and hand grenade estimate

these types of questions are hard because we don't know much about you or your financial situation

@Sole Angel what type of deals are you trying to do?