Down Payment for House Hacking
Newbie question - I want to get in the market as soon as possible (obviously) and trying to figure when I'd be ready to invest in my first property. I am currently saving for my first multi-family rental property and planning to house hack using an FHA loan. Is it recommended to put down more than the 3.5% to increase cash flow or use the rest of the money for fees, closing costs, renovations, etc?
New to bigger pockets and investing - any feedback would help and be much appreciated!
Most Popular Reply
@Cindy Gonzalez there’s no right or wrong answer here. Do you want to leverage more, be more aggressive, and take higher risk - or do you want to keep your leverage down, and be conservative with your investing? Being it’s your first deal, I would personally take advantage of the leverage here and go with a low down payment, but the choice is yours. Hope this helps