Murder, Twelve Hundred Thousand Dollar, Fifteen Percent discussed on The Dave Ramsey Show
Would use the additional twenty five thousand extra down payment to make that a little easier to swallow. Okay. And then I would just take your household income and began to work your baby steps, and as you said, we're gonna start saving for kids college. We're going to be saving fifteen percent of our income any excess money we get above those two things as baby step six. We throw it at the house and start getting the house paid off as quickly as possible. What are you paying for the house? Well, we actually got a really good deal it houses three hundred and twenty five thousand we actually bought a twelve hundred thousand dollar profit. From the economy, increasing and home value under contract right now too. So you're paying three twenty five and you're selling years, and you're clearing one hundred on years to put down, and you got twenty five more that we're talking about you're gonna put down, okay? Instill the emergency murder. Still have that even if we put the twenty-five, downright. That's that's where I didn't know. It was a no brainer to put it down because I was going to be independently employed. In the beginning. I know until you got a six month emergency fund, and you're not you're not gonna start real estate full-time until you've got something in the hopper. Right. Exactly. Not until I know that I did it's gonna work for me. I'm I'm the I'm active active license right now. Just started a couple of weeks ago. You you get you get some listings and some sales in the pipeline. And you'll know you're going to be able to eat, you know, this is all gonna work out. Then you're going to be safe and six months is plenty you should you should pull this often. You're doing this in a very wise methodical way, you your systems person. I can tell about talking to you. And that's a good thing. It means you're not you're not being impulsive with this. Yeah. I I would put the other twenty five down which again makes it easier for you to go ahead and take that leap and do that fifteen year fixed, which is the only way I would do it would never buy a house on more than fifteen years. I wouldn't buy house less you pay cash for it because I don't borrow money. But I would never even recommend that you buy anything unless it's a fifteen.