Looking into being Landlord

2 Replies

So for my fist move in the REI world I'm looking to purchase a 2bX2b condo in my area and renovate it so it's more modern on the inside then move in myself and rent the other room. I'm still in the research stage of this plan but I feel really good about this route just to lower my living cost that way I have more money to put towards more investments while at the same time building up some equity. Are there any suggestions or point of interest that I should take under consideration before I pull the trigger and move forward?

@Akeem Hutchinson Hey Akeem! From what you’ve detailed, it seems you’re interested in house hacking, which is great for mitigating living costs for yourself as well as potentially providing cash flow. Which area are you in? I would say house hacking is a good idea to start off your portfolio; I’d suggest looking into multi-family properties in your area if there are any as they may provide more gross income, Best of luck to you!