Male 27
Recently I got a significant pay raise. Went from making $65k to $96k a year as a tradesman. I’m single so it was hard to be able to get by with only one income so I still live with my parents.
$17k in a Roth IRA
$7k in 401k with 10% going in every week after employer match
$1k a month with vehicle payments (insurance/note)
$4k in checking
Virtually no savings
I’m approved for $250k house.
I’m considering buying a duplex and charging nearly the price of the mortgage in rent a month. I could afford to put more money down on the principal every month as well.
What’s the right steps to take to move out on my own? Advice on where to come up with money for down payment? Am I managing my money correctly? How much should I put in savings each paycheck? Any advice is welcomed. Thanks!