New Member Rhode Island/Connecticut Area

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New Member Rhode Island/Connecticut Area

Philip KoutsaftesPro Member
Investor · RI · Member since 2026 · 2 posts · 2 votes

Hey BiggerPockets! 👋

I'm 22, a recent Penn State grad, and I just relocated to the Rhode Island/Connecticut area for my first full-time job out of college. I'm currently renting on a 12-month lease, but I'm already looking ahead to buying.

I've got some savings and family support behind me for a down payment, and I'm ready to get into owning real estate — the sooner the better. I've been weighing a couple of paths: house hacking a multifamily, though I'd need to wait out my current lease before I can occupy a new property for FHA financing, or buying a single-family home to start building equity now and keep my options open for the future.

I'm still working through which path makes the most sense for my timeline and market, and I'd love to learn from people who've actually done this . Please feel free to reach out and I look forward to becoming a member of the community!

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  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 161 posts · 46 votes
    1w

    @Philip Koutsaftes Welcome! You’re asking the right questions early. Since financing can be quite different between a house hack and a traditional single-family purchase, feel free to reach out if you’d like to explore some lending options and see what may work best with your timeline. Happy to connect!

    [email protected]248-408-3855
    West Capital Lending5125 Reviews
    WebsiteView Page
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  • Diana KhanPro Member
    Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 483 posts · 177 votes
    1w
    Quote from @Philip Koutsaftes:

    Hey BiggerPockets! 👋

    I'm 22, a recent Penn State grad, and I just relocated to the Rhode Island/Connecticut area for my first full-time job out of college. I'm currently renting on a 12-month lease, but I'm already looking ahead to buying.

    I've got some savings and family support behind me for a down payment, and I'm ready to get into owning real estate — the sooner the better. I've been weighing a couple of paths: house hacking a multifamily, though I'd need to wait out my current lease before I can occupy a new property for FHA financing, or buying a single-family home to start building equity now and keep my options open for the future.

    I'm still working through which path makes the most sense for my timeline and market, and I'd love to learn from people who've actually done this . Please feel free to reach out and I look forward to becoming a member of the community!

    @Philip Koutsaftes, I like that you’re looking at both options instead of feeling like you have to rush into one. A single family home and a multifamily house hack can both be good starting points, but they give you very different experiences as an owner. If you go the house hacking route, I’d make sure you’re comfortable not only living next to your tenants, but also taking on the responsibilities that come with being their landlord.

    I’ve worked with newer investors who were very focused on finding and financing their first property, and then realized there was another side to prepare for once tenants were involved. Things like the lease, the condition of the property, title issues, and understanding your responsibilities as an owner are much easier to think through before closing than afterward.

    You’re getting an early start, @Philip Koutsaftes, and it’s good that you’re using this time to learn before making the purchase. I’m a real estate attorney and investor, so I see a lot of these issues from both the legal and ownership side. Happy to stay connected as you work toward your first property.

    [email protected]240-266-0291
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