💰 How much you need to buy a home

When most people plan on buying a home, they only consider how much to save up for the downpayment.

But they forget to consider the expenses that they need to continue paying to hold on to the property!

In fact, even I was confused at how much everything cost and what I had to pay for.

Besides paying for the mortgage, I was told that I had to pay for insurance and property taxes.

🌊 And I was even more surprised to find out that the property I purchased was in a flood zone, and my lender required that I buy flood insurance as well.

But does that mean that real estate is a bad investment and a money sink? Not at all!

By purchasing a property that gives you more income its monthly expenses, you will be able to generate consistent passive income. All the while, being able to own an asset that appreciates in value over time.

✅ If you want to learn more about real estate investing then register for my free rental property webinar through my 🔗link in my bio!

[seanlovesrealestate]

How much do you have saved for a house? 🏡

[riswald]

500k for a quadplex is nonexistent in this market

[Blutankalpha]

500K is not a fourplex. Its a shitty 2 room flat maybe.

[khafreahmose]

Sounds nice until something breaks in one unit while another unit is vacant. It ain't all a bed of roses...

[hirreath]

500k for quad makes sense but in rural or non urban areas.

[Magnetic-Milk]

Its risky, what if you dont find tenants fast enough or nobody wants to pay ehat you need. Could you make a video about the risk

[milgonfoong]

Can u help me calculate?
Market value=430k
Bought price=341k
Rental=1500per month
Mortage=1574per month
Maintenance fee=154 per month

Do u think ia worth it?

[Wolffin.Academy]

Love it! Great and useful information. Set your goals, consistently education yourself and work smart not just hard. 😎👍

[ConquerorOfyt]

where can I buy a 4plex for that price??

[redbakery]

I don't need to go to the bank for a loan, accountant said my accounts look great -- I can spend everyday and the cash won't go.

[johnygotapseudonym]

In some countries you won't be granted a mortgage from rental income.

[carsondinwoodie]

Now budget a more realistic annual income the average single adult can be as low as 30k a year.

[mswarmie]

Isn’t the agent supposed to tell the buyer how this thing works? Plus, the “you look young and are you sure you can afford this” is age discrimination. There are millionaire kids and teenagers nowadays. Thanks to YouTube.

[deityjc]

What classifies as 'young?' Cause I'm making $1000 a month and I'm 22. That number also hasn't significantly changed in the 4 years I've been working. Hell, my Mom is over 40 and I think she's making $3000 a month.

[matthewsantiago]

don't you generally need 25% down for a DSCR loan?

[drago_bs]

I have nothing saved, I'm 13 lol😅

[daiwikkataria]

Smart but risky as when non period will be in your lives😮 the life will be hell ngl

[JiniS-ek]

Comment a heart if h love ur mom ❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤

[BIG-G-JEX]

Anybody that wants to have a home sooner listen closely ::: get a job at 15 or 16 and start a business at 18 and use 25% income on needs 25% on wants 25% on business and 25% on stocks and keep this up from 18 or 15 and you will probably be able to have a house in ur 40, s or 30, s