House Hack vs. BRRRR

[Rob Appel]

I want to buy a multifamily and house hack, but not much is on the market where I am looking. I have 3 kids nearby and want to be close for their commute to school, so it limits my radius search. Should I then find a single family, fix it and move each year or what is my best option? Should I rent a place and find a BRRRR? Not sure how to go to start accumulating properties, but I want to take the Greene approach and purchase at least one per year.

[Ryan Lesley]

Hey Rob, 

this question is hard to answer without knowing where your market is. In some markets, like here in Denver, the numbers do not generally work out for a multifamily rental. But, there are other opportunities like finding a home with a basement and separate entrance where the numbers do work. So the first step is understanding your market and what strategy is going to work best. 

In my opinion house hacking is a great place to start because not only do you get to start off your REI journey, but you simultaneously get to offset your living expense but also cashflow if you find the right deal.

I highly suggest getting on meetup.com and looking here to see if there are any meetups going on in your area where you can start networking and talking with local investors to figure out what strategies they are using and to get some help along the way. 

I hope that helps and best of luck with your future investments 🤝🍀