House Hacking to start out in the investment game
Living in Brooklyn, New York has been an amazing experience for me. I enjoy the diverse culture and being able to take advantage of all the city offers. Although I am not looking to invest into real estate in New York, if anyone can share their personal experiences on how they have successfully invested into a triplex or other multi-family properties that would definitely change my mind. Overall living in Brooklyn has been great and although it may seem daunting at times, investing into real estate here when done right could provide huge returns down the line which makes it worth considering despite any initial hesitations one might have about doing so!
I am particularly interested in house hacking as a way to get started with real estate investing and would love any recommendations on areas that are good for multifamily investments. It is important for me to find an area where there is potential growth so that I can maximize my return on investment but also be able to maintain reasonable rental prices due its location near amenities such as public transportation, restaurants, parks, etc. Would anyone have any recommendations on areas out of state that's good for multifamily?
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The good part about investing where you are is the massive upswings of appreciation. I'd try that first before going to another state. The best way to get in is house hacking a 2-4 unit and utilizing FHA(3.5% down). The prices there are expensive and it is competitive. If you do look OOS you'll have to at least put 20-25% down for MF(unless you move to the state and house hack). There are many markets, Midwest is the popular trend. Happy to chat on KC, it's a great Midwest market