Six Months, Twelve Hundred Thousand Dollar, One Hundred Years discussed on Dave Ramsey

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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. The 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 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 years to put down, and you got twenty five more that we're talking about you're gonna put down. Okay. We're getting instill the emergency funds for six months still have that. Yeah. Doctor 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 there since I was going to be employed. In the beginning. I know it 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 me, I'm active active life and right now, right? A couple of weeks ago. Yeah, you got 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 but six months is plenty you should be should pull this often. You're doing this in a very wise methodical way, you you're 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. Yeah. I I would put the other twenty five down which again makes it easier for you to go ahead and take that leap 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.

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