Updated over 4 years ago on . Most recent reply
Overthinking getting started
I’m in the Hattiesburg, Ms market. My wife and I live for free already (just pay utilities). Paid cash for a mobile home on family land. I have about 14k in easily accessible cash saved. Another 2k in a high interest savings account that I can’t access for a while. And another 8k from the 401k from the old company I worked for that’s no longer getting matched. Looking to buy a rental property but don’t know if I should house hack a multi family to save on the down payment or just pay the 20% on a single or multi since I already have no rent or mortgage. I’ve also entertained flipping, but don’t know if I could afford down payment and the cost of repair. Any and all advice will be greatly appreciated! Here’s to bigger pockets!
Most Popular Reply
You could still house hack if you are looking to get in with a low down payment. You won't necessarily save on your expenses, but it gets you another asset with less cash out of pocket. You could even find a property with some land and potentially park your mobile home there.