New and looking for thoughts
Hi all. I am interested and ready to make my first investment. I am debating if I want to do a house hack (I am in Chicago, which is expensive and high taxes) or do I invest out of town? I have no experience, this is my first investment, so I am leaning towards a house hack (2 or 3 unit building) living in 1 unit, rent out the others and if my monthly outflow is less than I pay now in rent, then I am winning. I could put the excess away in savings and be able to buy #2 in a year and then rethink if I do another 2-3 unit locally or at that point invest out of market. Would love to get some feedback and experience shares and even some advice. I can invest around $75k maybe a little more if needed, but ideally, I would like to be less than $50k. Not sure what else to share at this point.