How much was you first property for a live in house hack?
I live in Texas and i want to get into real estate investing by house hacking, how much was you first property you house hacked? how did you fund it? was it by a FHA loan 3% down, or 20% down.
I'm having a hard time deciding how to come about my strategy, I can either go 1) Use a FSH 3% down and get approved for a 200k to 250k and be in a house within a year, however with this strategy i can see my self possibly breaking even or still paying 100 to 200 into the mortgage which is not bad because technically that is my "rent" per se. Or i can go 2) save up 20% which will take me forever and possibly 3 to 4 years but with this method i'm guaranteed to cash flow profit .
with strategy one, it will help me use my salary to save up rigorously for my second property, with strategy two i can use profit and salary to save up faster for second property. i'm looking into refinancing the fha into conventional after a year to repeat the process.
What was your strategy to get into investing while house hacking? but what price did you choose and why?