Should my first property be an investment?

6 Replies

I live in an apartment and I'm looking Into a multifamily investment. My goal is to start renting out the property for cash flow. Should my first purchase be a single family home(myself) or an investment property where I can do "house hacking". Hmm. Lost.
@Lilibeth Trevino You're the only one who can answer that question. It's going to be determined by your life situation, what you can afford, what you are able to finance, etc. We might be able to offer opinions or point out things to consider, but you would need to provide a little more detail about your current situation, i.e. are you single, have kids, what's your credit like, etc.
@Lilibeth Trevino Maybe a duplex or 4-plex that you could hack one unit of. Either that, or get into BRRRR with a SFR that will rent strong, after you put a little $ into and live in it for a year, then lather, rinse and repeat. Acquire multiple SFR and then convert into a MFR.

Personal call. I personally believe that primary residences generally aren't true investments, it's more of a luxury. If you rented out the other rooms to subsidize your rent then I would count that as closer to an investment property.