Renter and landlord

[John Johnson]

First off, this BP thing is pretty wild. Didn't even know things like this exsisted. Figured this space would be a lot more cut throat. Glad to hear everyone (for the most part) is down to help fellow investors.

I have rented for 14 straight years. Never owned a home or even crossed my mind to buy. I read Brandon’s book on real estate investing and I’m hooked. I am seriously contemplating doing a buy and hold on a single or multi family home while I rent. Is this dumb? Would it make more since to go ahead and move into a home of my own then work towards that? Or does it all basically just depend of the deal I’m able to find and if I even want to live there? Sounds like I may have just answered my own question writing this post lol any guidance out there?? I feel like I just want to get the ball rolling on my first deal... any deal... so I can learn how everything works. 

[Nathan Gesner]

You should house hack. This is where you purchase a multi-family with up to four living spaces. You live in one, rent the other three out. Because it is owner occupied, it will still qualify for great mortgage terms like 5% down (or less). After you live there for a couple years, you can do it again. Turn the first property into a pure rental (four units) and buy another four-plex (three rentals and one you occupy). At the end of two years, purchase your own home, again with favorable FHA terms. You'll have a primary home and eight rentals in four years.