Buy your first house or keep renting and invest in RE?

Question

Im in between buying my first house in the Palm beach, FL market or keep paying rent and start investing in RE so I could buy later?

Timothy Lewis · Answer

I think there are a lot of factors that go into the decision you're about to make. For example, how much capital you have saved now? Are you looking to wholesale, flip, or buy and hold? If flipping or buy and hold, what is the price point of property you are looking to to purchase? Are you using only your money or do you have a partner, private money, or using a HML?

These are just a few questions to ask yourself to get the juices flowing. I would say house hacking, to start your RE investing journey, is sometimes the best idea.

I hope this helps.

These are just a few questions to ask yourself to get the juices flowing. I would say house hacking, to start your RE investing journey, is sometimes the best idea.

I hope this helps.

Claudio Salvatorelli · Answer

Hey Elionay,

Yes, I agree with @Jorge Rodriguez the best way is to invest in a duplex. If you are saving money now but have the idea of buying down the road that's great.

Elionay Imbert · Answer

Thank you. That sounds great.

Jorge Rodriguez · Answer

I'm down in Miami myself and with the prices I see down here, I'm going to keep renting and socking away money to buy a rental elsewhere.

Another possibility that I'm thinking is buying a Duplex and house hacking so maybe that's something that you can look into?

Buy your first house or keep renting and invest in RE?

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