All Forum Posts by: Jesse Park

Thanks @Chace Fraser! If I have the money for 20% down, should I do that rather than trying to have 3 5% down properties?

I live in Denver and 3-4 bd homes cost from $380-550.

For my first property that I would like to house hack, I am looking to purchase a move-in ready home for $480 and rent out 3 out of 4 bd rooms. I’m expecting a total rental income of $2500 which will barely cover my mortgage at 5% down.

The question is, should I pay 5% down and look to invest in a different property a few years down the line? Or pay 20% down, lower my mortgage, eliminate PMI, and increase cash flow with no prospect for future rental property within a few years?

Side note, I looked at properties that need work at high 300-low 400, but it seems to me like I will be putting more money into making them desirable to live than to move into an already flipped house. Please lmk if this thought is misaligned in my market.