Advice on either renting or buying and selling
I am either thinking of purchasing a multi home and renting out additional units while house hacking, or purchasing a single family home and selling it within a year to two years. What do you all think are the pros and cons and which route would you advise for me to go?
I initially wanted to purchase a multi home. While house hacking I can save some money to purchase a home after two years of renting out my additional units.
Than I started to think about my market a bit more (in San Antonio), and wasn't sure if that would be best.
I could purchase a new home, renovate over the course of a year or two then sell it to work on my next property.
I am not 100% sure which route I want to take at the moment and wanted to hear your thoughts.
Most Popular Reply
I agree with Sharon - San Antonio is a great market for BOTH strategies. If you can, you should buy a 4 plex using FHA financing for 3.5% down and live in one unit and rent the rest out to create cash flow. I dont really think a 'slow' flip is the best use of time and money though. SFH in San Antonio are also great cash flows. I know of a house for sale for $108k and it is getting $1350.mo in rents. SA is great for investing right now!