I want to start buying rental properties but I'm stuck on a fork on the road my wife wants us to get a house first before even starting to invest in real estate we have about 40k saved up how would you start investing, would you try to convince her and staying rent or would house hacking be the best option here thanks
That's a question of satisfying a want now vs investing for the future. Most people choose to satisfy the want now. Most people are also broke throughout their lives.
A lot depends on your market and your age and financial situation. I'm going to assume that you're younger rather than older and 40K works as a down payment in your area. If that is correct, the home you'd be buying today is not going to be your forever home. So find a place you like, that will work good as a rental, put as little down as possible and live there a couple of years. At this point you will (ideally) have enough saved up for your next home and you can rent this one out. Repeat again in a few years.
@Greg M. Hi Greg thanks for the great feed back im 26 and I live in California sorry about how little information I added it was my first post but I would like to to think future rather than now. I have seen several multi family property's lately go on the market on my area I was thinking maybe investing on one of those. Renting one side out and saving up moving and repeating the process thanks
@Dioney Navarro definitely need to be on the same page otherwise it will make everything harder. Like others have said a house hack or a live in type flip to a rental are great strategies that meet the you not renting next year. Talk to wife get on the same page then talk to an agent and lender and see what you can actually do in your market.
Hope that helps!
@Chris Davidson definitely going to try to get on the same page thanks for the feed back