Advice on investing in R.E. for the first time
So my question is that I'm torn between house hacking or just buying a fixer upper. I'm a veteran who is graduating with my B.S. this Friday. So it's time to return to the real world and I am starting the search for a place to live that will also start my investing. I live in Phoenix, AZ and I have pre qualified for 190k. I'm just looking for other investors points of view and advice. Whether I should go the multi-family route (more difficult to find in Phoenix) or find a fixer upper SF home and do the remodel myself and move on in a couple years keeping it in the portfolio? Any thoughts would be greatly appreciated.
Most Popular Reply
I see more potential in the single family route. I think there is a lot of upward price pressure on homes between $150-200k and you're bound to see some appreciation. Plus you can rent out rooms in your house to generate some passive cashflow and help pay your mortgage.
I think multi-family is terribly overpriced and you may not want to live in the kind of area that a $200k duplex/triplex would afford you.