Updated over 5 years ago on . Most recent reply
buy personal home before rental house?
Good afternoon. I'm looking to buy rental property but live in an apartment. Should I buy a house to live in first and then buy a rental or go right to a rental? I live in central Indiana. Are there pros and cons for either side?
Most Popular Reply
@John W.
Why not do both??
If I were you, I would do both! buy a house that has two units, also known as a duplex, live in one side and rent out the other. This is known as househacking, and of course the more units you get under one roof the better!
House hacking can be a great start to real estate and allows for a low down payment option that you would typically not be able to get if you go the non-owner occupied mortgage route. I went this route a few years ago here in CT and have certainly benefited from it. Feel free to reach out with any questions you may have.