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Updated about 2 years ago on . Most recent reply

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What would you do if you were me?

Posted

I just want to buy and hold for the first deal. I've been pre approved for $200,000 FHA and have about $10k for rehab/closing costs/down payment.

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1,503
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Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
1,159
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Nate Sanow
  • I​nvestor & Agent
  • Tulsa, OK
Replied

@Juan David Maldonado I tried to see what market you are in as that plays a role in what you decide to do, but, let me say to you that as stated above house hack is ideal.  But your comment about just wanting to buy and hold makes me think you just need to experience owning a property?  Is this your first purchase?  If so, this is going to sound weird but focus on getting into the best area you can.  Get something that when you move out will be desirable and something someone else will want to buy or rent.  You don’t have to get steps 1-100 figured out, just step 1, own SOMETHING.  If it’s in an area going up in value, that you enjoy, I say it “counts” in your investing goals, even if it’s not a perfect house hack duplex deal, you took courage and bought SOMETHING and refused to rent the rest of your life.  Good stuff.  

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