Should our 1st Time Property be an Investment?

[Pedro Ramos]

Hi- Happy to be a part of the BP Nation. As a husband and father of two girls, my Wife (new realtor) and I are interested in building a financial nest through real estate investments. We're looking forward to learning from all of you!!! Looking forward for our 1st time home purchase - Our biggest question at this time "Should our first property be an investment property or should it be our own?" Thank you All..

[John D.]

Back in the day, if I knew then what I am learning now...I would have house hacked and purchased a 3-4 unit and lived in 1 while renting out the others. Another possibility is to buy a potential SFH that you could rent out after living there yourself for 1+ years. In this case you'd possibly qualify for FHA financing and only have to come up with 3.5% down. (you can typically do this with multis as well provided you live there for at least a year).

Hope that helps and welcome to BP.  Best of luck to you and your family!!