Alrighty so here’s my situation,
I’ve got a new job and I’ll be moving to an area I’m familiar with because I went to school there a few years ago.
I’m currently house hacking a triplex with roommates and making $600/mo living here and it’s wonderful! The issue I have now is with the new job I want to house back again but I’m stuck between two options and I’d love your Input.
Option A: buy a 2-3 unit in a C class neighborhood and house hack that way
Option B: buy a single family with an in law suite and rent out the whole house in a B+ or A neighborhood.
The goal is to live in there for a year then repeat the process but I can't decide if buying the SFH is usually as good of an investment. I run the numbers and the cashflow would be pretty similar but I'm thinking the SFH will most likely see more appreciation in the long run than the multi family.
Also both options are around the same price point
Please ask any questions for more details if needed!
Thank you 🙌🏼
- 1- Prices, of course. Assessment of where you're buying and its 'frothiness factor'
- 2 - Your need for cash flow vs longer term appreciation/equity building, mainly will depend on your time horizon with owning the asset
- 3 - Your skills/ capabilities - some people are more naturally geared towards handling lower class areas, tenants, and usually the items that come up maintenance wise with this.
The advice I usually give to 'youngins' (I'm 36 by the way) is to take the long view - which means the equity building, and your TIME to continue focusing on your career, building skills, etc - would lead me to be biased towards the property that you felt would hold / appreciate in value more over time.....