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Updated almost 6 years ago on . Most recent reply

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Max Creasy
  • New to Real Estate
  • Huntington, WV
6
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Primary or Investment Property?

Max Creasy
  • New to Real Estate
  • Huntington, WV
Posted

So... the big question I have is whether or not to buy a primary residence or an investment property first. My fiancé would prefer us to get into a primary residence first BEFORE kicking off our investing career and is adamantly against house hacking.

Naturally, we should make sure we’re squared away first right? I absolutely want a place for my family to call home and be together. It will surely be easier to get her fully on board with investing if we have our own house beforehand.

For those of you who did not house hack from the beginning, what was your approach? Advice?

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Jaron Walling
#5 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • Indianapolis, IN
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Jaron Walling
#5 Questions About BiggerPockets & Official Site Announcements Contributor
  • Rental Property Investor
  • Indianapolis, IN
Replied

@Max Creasy Sounds like a great spot to be in so don't squander it away on a HUGE primary. It's called a starter home for a reason. Find something that cash-flows if you move out. Find a distressed property with value add. Find sellers with a problem and help solve it. Those are ways to get into investing and you could leverage that work for the next DEAL. 

If you're not willing to live below your means, house hack, or flip, you'll probably be shopping retail like everyone else in a sellers market. That's just my 2 cents. 

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