Looking at Dollar amounts?
Hey, all.
Long story short, I'm doing what I can to be more financially fit, so i can start investing. I would love to start house hacking in Sacramento, California. Thing is, small multi-family homes are not cheap in this area, dollar amount speaking.
I'm looking for at least a tri-plex, maybe a fourplex, but I dont want to start with a duplex unless I absolutely have to, for personal reasons. But... I can rarely find a decent 3-4 unit home for under $300k.
I feel like I can take my down payment money and buy more houses in markets that are cheaper, dollar amount. I know that's not the only thing that matters, but actively trying to find a deal in such an expensive market is slowly seeming like a losing uphill battle, and it seems like I could go more inland (such as the Midwest, or even my hometown in Arizona), and have my dollars stretch further, as long as the cash flow remains positive. If I move to other markets that I don't live in, I'm fine with a duplex or even single family. I'd just rather house hack in Sac than either move out of the city, or invest from afar.
Is this how I should be looking at it, or should I try to tough it out for the market I really want to be in?