Updated 19 days ago on . Most recent reply
First time Home Buyer
Hi Bigger Pocket forum, I just wanted to introduce myself. I'm brand new to learning about real estate investing and just starting to educate myself about it . My goal would be to buy my first single family home in one year. Currently living in central Jersey and would love to stay here. I also know this home wouldn't be my forever home and would love to rent it out in the future. Any tips or advice would be great! Thanks all and looking forward to chat!
Most Popular Reply
Welcome Andrew! You’re already on the right track thinking about your first home as a future rental. That mindset alone puts you ahead of most people.
One thing I'd suggest (just something to consider) is looking into a small multifamily instead of a single-family for your first purchase. If you're open to it, house hacking a 2–4 unit with an FHA or low down payment conventional loan can be a game changer. You live in one unit and rent out the others, which can help offset your mortgage from day one.
The biggest advantage is that you’re not just relying on appreciation—you’re building cash flow and equity at the same time. And if you repeat that strategy over time, it can compound a lot faster than going the single-family route.
That said, definitely run the numbers and make sure it fits your comfort level and market (especially in Jersey).