If you had extra money what would you do?
Hey,
I'm looking to enter the real estate market in Tampa, FL. I want to house hack or buy a multi-family home. 95% of my wealth is in crypto and I would like to diversify. I'm taking all advice and I'm thinking that I would do a FHA loan with 3.5% down.
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I would definitely house hack. It can be a great ROI on saved living expenses and a great intro to rental real estate. Consider getting a loan on your crypto holdings (if feasible). You'll save the capital gains hit and potentially get to use the interest as a tax deduction. You'll want to have those funds in your bank account for more than 2 billing cycles so the bank won't make you show where it came from. Also, aim for a conventional loan with a low down payment. It's more attractive regarding the PMI.