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Updated 9 months ago on . Most recent reply

User Stats

11
Posts
14
Votes
Rachel Seymour-Newton
14
Votes |
11
Posts

New Investor debating options

Posted

Hi everyone,

I've been doing a lot of research and am ready to buy my first investment. Originally I was planning on buying a multi family in the area I live in, but after reviewing my lease, I've found that I really can't break it and I have 8 months left on it. I have enough for 25% down on a smaller investment property in another town 1-2 hours away from me. So my question is: should I wait until my lease is over and then buy a multi family that I can house hack or should I buy a smaller investment property in another town now and then get a heloc when my lease is over for a house I can live in? Also, would getting a HELOC so soon after be do-able? Thanks in advance.

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