Hello šŸ - I have an option of buying an investment townhome of 630k in a nice area that might have an appreciation. I think itā€™s over expensive but donā€™t want to discard before exploring options.
Do you suggest itā€™s a right idea to get into this investment now?
Is there a way I could do 5% down payment on this house as I couldnā€™t afford 20% ? .Immigrant and not eligible for VA loan.
Am I missing anything else to consider ?
HHI of ~220k , have EF and 401k, Have a primary SFH and a 6 month old.

like
Posting as :
works at
You are currently posting as works at

If itā€™s an investment property you need to look at those key metricsā€¦ there are quick searches you can do for metrics and targets. You need to estimate all costs (prop mgmt, vacancy, Utils, maintenance, repairs, landscaping, etc). For metrics - Debt to income ratio, monthly cash flow, Cash on cash return, etc. etc.

Is this where you plan to live? Or are you planning to buy it and rent it out? Two different methods for calculating based on whether it is your primary or notā€¦

Youā€™ll need to get an investment property loan, which will require 10% down as a minimum, and 20% is highly preferred. Youā€™ll also need to have 3 months of reserves to cover the debt obligation on hand. If you donā€™t have that, itā€™s unlikely youā€™ll be able to get approved for a loan.

If youā€™re looking to sign a long term tenant, youā€™ll only be responsible for insurance and property taxes (as well as PMI if applicable, and/or HOA fees). You may want to also take responsibility for lawn care if the house is in an HOA or if you have an expectation of keeping the landscaping alive. I personally take responsibility for pest control as well, but not many landlords do.

Related Posts

Spend bonus on paying off student loan or buying more ETH? Only have like 2 ETH. Converted a lot of them to alt coins

like

CD/AD available for hire. Specialized in B2B, Tech, Financial and Healthcare.

like

Hello and happy Thanksgiving! What are the pros and cons of living in San Diego vs San Francisco? Iā€™m from NY and looking to move to one of those locations. Iā€™m hoping to get more info on rent, dating, entertainment, taxes, and job stability.

like

Burnt out Senior FPA Analyst with 6yrs working in finance as a whole. Looking to make a transition into remote work in Operations, Compensation/Benefits, Strategy, Management - something more people oriented while being able to help improve business inefficiencies. Can anyone help me out?

like

If you were just getting into this how would you invest your first $10k? Would you, or have you missed the bubble?

like

chubb paternal leave policy?

like

My current ROR on my 401k is -12.97% šŸ™ƒšŸ™ƒ. I know rates are pretty bad now, but is this lower than y'all? And any advice on how I can learn about investing wisely for my 401k?

like

Anyone work for NYC HEALTH & HOSPITAL that can talk about quality of work? Benefits, WLB, WFH, workload (!!), billable hours (??) etc? TYIA

like

Hey guys really interested in join Accenture. Have experience in healthcare start-ups and as a technology consultant . Would like some tips and help on how I can get an interview. Thanks for the help!

like

Getting an offer from start up- base they are matching - they have no 401k match, no Bonus but they are giving me stock options at 0.2% of today's equity. Is it reasonable

like
like

For the first time, maxed out my 401k contributions with 3 months to spare. Not sure but feels like an accomplishment

like

Is this market pull back an opportunity to buy tech / FANGS / Nvidia, or is this the beginning of the end for tech stocks??

like

Was offered a senior accounting position in NYC for 100k and a 20% discretionary bonus. My EY raise in October will put me at 91k. I feel like 100k base is low given all the benefits at EY (ex: phone bill, internet bill, fitness fund) but the recruiters are saying 100k for someone with 3 years experience is unheard of. Any thoughts?

like

Hi, How much can be saved for a family of 3(Me,Wife and a 3yr old) with 3.3K euro in hand. I am ok with putting my kid in a Dutch school but is there an disadvantage to him if we are moving back to India after 3yrs? Since books here will be in English.TIA

Iā€™m currently a maxed out GS-15 Step 10. Masters degree is Electrical/Computer Engineering, but now a Program Manager for a high visibility area. I have 10 years to reach full retirement age (57). Why do I feel like Iā€™m limiting myself? What would the pros and cons be of seeking private industry employment at this point? What would an equivalent salary be taking into account pension, etc? Anyone else been in, or is in this situation?

like

The question is healthcare a right or a privilege? What do agency folk think?

like

Does JPMorgan Chase scrutinize internet expenses bill for reimbursement? Like cross checking bill amount and account number with company

like

Getting a fat bonus > 50k. 401k will be maxed, already dump 3-5k in each kids 529 and have more than six months of emergency fund. Already own a house at 2.85 etc. not flexing or anything just want to know what folks would do with a sizable bonus. Need ideas please. Otherwise dumping in VTI lol

like

Anyone here own multi unit rentals as a source of supplemental (or main) income? Looking to enter the space and would appreciate any wisdom/learnings you may have to share šŸ™šŸ¼

like

More Posts

Are we?! Lol

Post Photo
likefunny

Hi, Can anyone help me with the referral for Angular developer position at PWC?

like

BLKJ? The place to be?

like

Looking to see what others out there are making. Whatā€™s the typical salary range for analysts and associates at lower MM banks?

like

Hidden gem restaurants in or around Philly? Planning a special bday dinner.

likesmart

What is the notice period in thoughtworks. Does it changes if you have dependency in the project?

like

Any PwC HR here, please comment or DM. PwC Pwc AC

like

Where are some good places to work remotely in Charlotte? Also are there any clubs or groups for remote workers here?

Are there mid day networking events? An extroverted friend in a new-to-them remote role has recently realized they miss people though they like the work & employer. Any suggested mid day networking events or other ideas?

like

Most remote diving youā€™ve done?

Took down the NBA FanDuel GPP on Sunday. Made $100k! šŸ™ŒšŸ¾šŸ™ŒšŸ¾šŸ™ŒšŸ¾

To continue consulting or not?!

like

Could anyone tell me whatā€™s it like to work in Goldman Sachs? Howā€™s the work life culture in Operations such as Asset Management, Market Making etc? Whatā€™s the best thing about Goldman Sachs compared to all other investment banks?

like

Book recommendations for effective communication, leadership, and sales ?

like

ā™„ļø SAP SuccessFactors

#SAP #HXM #SuccessFactors

Post Photo

How common is PIP in consulting? When someone is fired in consulting, is it normally preceded by a PIP, or is that the abnormal case? (Talking firms 1000+ people)

like

Going to try one more post as a student before I give up and just come back in a few months once I get my B4 employee email. But it looks like on my profile I need one of each reaction in order to comment on other posts. I already have 17 hearts and 1 star, can three different people give me one of the hand, lightbulb, and happy emoji? Thanks!!

smarthelpful

I have 1 and half year of experience. eI work in ICICI Bank in technology. Work on SQL/PLSql, finacle front end and back end. I don't work on development part but I have joined great learning's full stack development program. Will i get job as a full stack developer with salary of around 8-10 lakh Accenture Deloitte EY ICICI Bank

like

I joined EY GDS on august 2nd 2021 as advanced analyst for US taxation. I donā€™t have enough hours but I have over all 3 years of experience (2.7 Deloitte and Ey - August 2021 till now) in US tax and very good feedback untill now. Is there a possibility to get senior promotion this year?
If over all hours is the only main criteria then I would not get this year?

like

I am currently a year from finishing my PhD and was looking at VC's as a career path because I like to do meta-analysis of different climate change techs. I networked with VCs and one of them was receptive but didn't have the budget currently for a full time hire. They said they'd be interested in working with me to do a research paper over the coming semester, and was wondering if I could leverage this into a full time offer?

Is a white paper with a VC going to be attractive on my CV?

Self-taught marketers, how did you grow your knowledge to get where you are today?

like

Additional Posts in Personal Investment Chatter

In prep for backdoor Roth, I converted my pre-tax IRA money into a 401k to avoid any pro-rata tax issues. Anyone know if thereā€™s any sort of buffer period I need to wait or am I safe to do back door as soon as that money officially hits the 401k?

like

Anyone thought about switching fields to trading to get super good at it? My thought is that itā€™s a pretty lucrative field with lots of upside and even if you donā€™t do as well itā€™s easy to do from home casually and make some money if youā€™re a trained professional, which could help with FIRE if you need a low effort high reward side gig.

likeuplifting

Thoughts on the below quick analysis and putting šŸ’° into the top 6 that are all >30% off their 52 week high?

Post Photo
like

Anyone playing play-to-earn crypto games? Starting to get into this realm & looking to hear what people are playing. Right now Iā€™m playing DeFi Kingdoms and DeFi Land

like

My daughter is heading to dental school and is in the loan process . Any suggestions on best way to proceed ?

like

Traditional IRA gained two cents of interest on post-tax dollars contributed while doing backdoor Roth IRA and waiting for funds to settle, what do I do?

like

Whatā€™s a good auto loan rate? Is it better to buy in cash if possible? Looking at either an X5 or Cayenne. Will be from $75-100k. I know people generally advise against paying all cash, but at what point (at what interest rate) does it make sense to buy with cash?

like

Is this market pull back an opportunity to buy tech / FANGS / Nvidia, or is this the beginning of the end for tech stocks??

like

For the first time, maxed out my 401k contributions with 3 months to spare. Not sure but feels like an accomplishment

like

Buying a home.

Any place to check neighborhood crime rating? Some online sites show theft and assault a little further from property. But what's a reasonable expectation here?

I'm assuming assaults are fairly common place?

like

Stock mutual fund recommendations for 2021???

like

Iā€™m an attorney trying to learn about finance and economics. I didnā€™t take any economics courses in college and donā€™t have any experience in that area. What books or other resources would you recommend for a beginner? Iā€™m not looking for investment guides.

like

Is VTSAX still a good vanguard fund if you need the money in 3-5 years?

Thoughts on stock for pharma companies that are developing a vaccine for covid-19. Which stocks are bound to grow? Who are the front runners?

likehelpful

Fellow Fishes, I am NC and state does not offer any tax benefit for using state 529 plans. Any recommendations of which plan is better (performance/fees). Kid will be heading to college in next 9 years.

like

Currently a homeowner looking at 2nd properties for investment, assuming a small mortgage. Original mortgage at 4.5%. Looking for options to finance given this intersection.

like

Any thoughts about Tilray after the big news yesterday from the DEA?

like

60k of a 200k mortgage left, for home I got for my parents. found a 1BD for me For 220k chicago west loop. Is it wise to buy? 25k in savings and 32k in 401k. I spend 1700$ a month on rent otherwis

like

Would you recommend an associate making 90k base in NYC prioritize maxing out their 401k and Roth IRA even if it means they won't save beyond that? Assume debt has been paid off and 3 month emergency fund in savings

like

Iā€™m starting a business and need about $50K in upfront costs. Iā€™ll fund half with cash and am looking to take a loan (which by my projections can be paid off in year 1) for the other $25K.

Would you recommend taking the loan through my personal name or through the company, assuming the interest rate for year 1 is 0%? I feel like it will take awhile to get the $25K for the business as the loan receiver pre-revenueā€¦ right?

like