Hi I’m wanting to get into real estate investing but before I invest I would like to see what makes more sense. I am currently living in a studio and paying rent. Should I buy a house first for me to live instead of renting? Or continue to rent and find an investment to rent out for cash flow? I live in Hawaii. Not sure if that matters. I need help. I would appreciate any advice! Thank you.
Banker · Nationwide · Member since 2020 · 2k+ posts · 1k+ votes
4y
Mandy,
Take advantage of the lower down payment options you have as a primary home buyer. Live in the house for a short period of time and flip it over to a rental. You can go conventional and put between 3-5% down save your money for renovations or TLC curb appeal upgrades and Refinance to take out some cash -Rent & Repeat!
Take advantage of the lower down payment options you have as a primary home buyer. Live in the house for a short period of time and flip it over to a rental. You can go conventional and put between 3-5% down save your money for renovations or TLC curb appeal upgrades and Refinance to take out some cash -Rent & Repeat!
Thank you for the advice! What do you think would be better Single family or multi family home? I’m thinking if I should do house hacking.