Updated 2 months ago on . Most recent reply
Condo or save and wait for multifamily
Hello my name is Rayranda,
I've been following bigger pockets for a little bit and I'm super interested in this real estate investor strategy. I just started the process to buying a home and I've learned very quickly. That condos are where my budget lies, but my goal Is a multi family. I could definitely find a condo that I really like and run out the second bedroom for a few years and then try to purchase a multifamily. Or I could wait pay down some more debt ,save more so that I could increase my buyer power.
Also, has anyone experienced condos being profitable outside of house hacking. Based on my calculations, even with house hacking, I'm only looking at 50% being covered if that.
Let me know what you guys think. Thank you so much for taking the time to read my post.