Philadelphia (Manayunk) House Hack... I Need Help
Hello Everyone,
This is my first time ever posting on BP. I am a frequent podcast listener and read all of it's material. I am a single 24 years old male ( currently living at home with family to save money) looking to purchase my first house hack and get into real estate investing. I have about 50K to my name and no debt, ready to make that first leap. I also have friends of mine looking to move out as well that would be potential roommates for this house hack. That being said, I can only read and listen so much until I actually make a move which is where I am struggling. I am already pre-approved as well as working with an agent to find this first home. Here are some of my main questions I hope you can assist me with.
1. Is it better to purchase a home that needs no repairs at all or needs repairs that I can fix? Note** - I am not handy at all but I do know a few contractors through word of mouth.
2. Would you recommend going all in financially If I believe this will cash flow positively?
3. Single Family vs Multi Family?
4. Should I look to invest a 3.5 low down payment and pay the PMI insurance or invest 20% down (Majority of my capital)?
If you could assist me with some of these questions that would be great. I feel like I am very close here, just starting to get the pre-purchase jitters being a first time buyer investor and want to make sure everything goes smooth-ish.
Thanks