Hi all,
My name is PJ and I'm a 25 year old business professional.
I'm in a situation where my friends who is VA is interested in buying a small home and I could get on the loan with him therefor using the VA Benefits although our income isn't too high so I would still have to put a small downpayment of $30-50k on a $450k property in Southern California.
Do you think I should keep my portfolio of stocks and crypto currency or go half on this SoCal home.
Thoughts are appreciated!
Thiers no comparing between a Physical investment and a digital investment even if I believe right now it's not the right time to buy a house as the prices are unbelievable I would go with the house . Do your homework for sure before getting into it and see if it's worth it. It's the best time to sell stocks as it's all time high
All about opportunity costs when buying a home.
I would be more willing to liquidate my stock positions before I liquidated my crypto positions if I were you, given that there are arguments to be made for the US stock market being deep inside a long-established bubble.
This is true, most of them are index funds not earning that much anyway.
Do you own a home now? Im a believer in starting with that. Your own place. I'm not a fan of co-ownership in general.Too many things can get sticky. If your co-signing on someone else's loan? Thats even worse. Investing in crypto's is highly speculative. How many times have you seen 'don't invest more than you can afford to loose' in this space. You don't see that with real estate. Good luck
No I don't own, I rent a room with friends for $725. I am not co-signing a loan. I'm going 50/50 on a small property with a friend who is also a VA so we get all the mortgage benefits.
I've seen "don't invest more than you can't lose but I have 0 debt, paid off car and 40K in the bank, 10K in crypto, 15k in 401k & 20k in the stock market.
So my portfolio is somewhat balance between risky/somewhat safe investments. I'm 25 years old so i'm more willing to take risks financially.
All advice is welcome. I am very open minded and appreciate ANY advice.
I'd talk to a lender about this.Maybe I'm a bit confused. You wrote ' I could get on the loan with him therefor using the VA Benefits" Here's a link on VA loan co-borrowers https://www.valoans.com/articles/co-borrowers-on-va-loans/
We've been in contact with a lender who is willing to give us the loan because he is "mentally disabled" and therefor can have a "caretaker" on the mortgage with him.