Updated over 6 years ago on . Most recent reply
House Hacking with a young family
Hello BP family. I am looking to starting investing soon. I have been going back and forward with the decision to buy a single first for MY OWN FAMILY or buy an investment property.
Currently I am renting myself and hate the fact that I am giving away money to the landlord (funny right lol). So I have been thinking, should I buy a Single Family home for my family to live first (i'm sure my wife would prefer this option more) and then possibly get into wholesaling to make a few dollars to build capital to then purchase my own investment property...OR...
Use the FHA loan to purchase a 2-4 Multi-family home and HOUSE HACK in one of the units with my family for a year. This will allow me to possibly put down a lower down payment of 3.5% and become a landlord while owning and not renting myself. I'm looking to start making the decision and get things rolling soon. All advice is greatly appreciated.