3-4 year investment strategy (Starting out)
Hello BP community,
When buying any real estate property, regarding your own to live in, do you run an analysis the same as if you were going to make it a buy and hold rental? If so what are the basic numbers you would shoot for? (i.e. 10-20% below market value, NOI, Cap Rate..ect)
That is basically my current plan/strategy. I would like to buy my 1st home to live in for 3-4 years where the numbers workout up front based on assessing the purchase as if it would become an immediate rental property. Then after a 3-4 years I would move out of the property, rent it, buy another home and do the same thing.
All the mean time acquiring other properties during that same 3-4 year time period to build my real estate portfolio. The reason being is we are currently in an apartment plan to move out around September.
My wife and I would house hack or buy a duplex/quad to start out, but we seem to cant find those types of properties in Houston, relative to where we both work. Plus, multifamily homes in Houston, from what I have seen are either really expensive or in a bad neighborhood and need a lot of work.
Thanks in advance for your answers!