Single Family or House Hack?
Hello all,
Hope everyone is staying safe during these times! I am pretty new to the forum still so apologies if there is a better place for this post to go.
I am pretty early on in my investing journey and working to nail down my strategy for when I have the funds to purchase my first property. So here are my thoughts. I am saving to have about 70k-80k cash to put down. I have always thought I would house hack with a 2-3 unit property and put about 10%-15% down (hopefully value add to refi and get rid of PMI at some point). As of recent, I have been thinking I can put 20% down on a SFH and and just rent it straight out.
I know a lot of this comes down to the quality of the deal and your overall investment strategy long term. But I wanted to see if anyone has an opinion on which one might be better for a first time investor? I am 22 and am totally open to living in one of my units but am just wondering if SFH could be better?
Thank you in advanced!
Best,
Elijah