Need Help: Option 1 or Option 2

[Dawson Burton]

I plan to move to Florida in two years and will have a solid amount of capital saved—enough to buy a property outright and use the BRRRR strategy. I’m currently deciding between two options for how to start:

Option 1: Live on my boat full-time, pay for a boat slip and all related expenses, and use my capital to buy a single-family home, renovate it, rent it out, refinance, and repeat (BRRRR).

Option 2: Buy a duplex, fix it up, live in one unit while renting out the other (house hacking), then refinance it. From there, I’d continue using the BRRRR method for future properties.

I’m trying to figure out which option would be smarter to kick things off especially when it comes to building cash flow and long-term wealth.

[Dominic Mazzarella]

Quote from @Dawson Burton:

I plan to move to Florida in two years and will have a solid amount of capital saved—enough to buy a property outright and use the BRRRR strategy. I'm currently deciding between two options for how to start:

Option 1: Live on my boat full-time, pay for a boat slip and all related expenses, and use my capital to buy a single-family home, renovate it, rent it out, refinance, and repeat (BRRRR).

Option 2: Buy a duplex, fix it up, live in one unit while renting out the other (house hacking), then refinance it. From there, I'd continue using the BRRRR method for future properties.

I’m trying to figure out which option would be smarter to kick things off especially when it comes to building cash flow and long-term wealth.

I'd lean toward Option 2 if your main goal is to build cash flow and long-term wealth. Living in one unit of a duplex while renting the other not only helps cover your living expenses right away, but it also keeps you close to the asset, making it easier to manage and add value. It's a great way to get started with the BRRRR method while keeping your risk lower.

Option 1 sounds adventurous, and it could work too, but paying for a boat slip and living separately from your investment might complicate things early on. House hacking a duplex lets you stay grounded, get that first refi done, and build equity while minimizing out-of-pocket costs. You’ll get reps in the game faster.