I am looking to purchase my first rental property

[Jack Stalnaker]

I want to purchase a multifamily home and do a house hack if possible in January of 2025. I have 50k for a down payment and another 25k to cover any extra costs that may come along with it, but I don’t know where to start looking. I am willing to move pretty much anywhere in the United States. I’d prefer  to not be in the Midwest or somewhere that has bad winters, but if that’s the best option I am absolutely willing to make it work. What are some good areas I can start to research for buying? I’ve done some research myself but it’s hard to try and pick out one city in the entire country to find an ideal rental property. Any help or advice would be greatly appreciated!

[Ko Kashiwagi]

Hi Jack,

If you are really willing to move anywhere I would personally opt for:

1. States that have landlord-friendly rental laws (ex. TX, FL, AL, AZ, PA, NC)

2. City where you can cash flow at least by the time you move out

3. B-C class neighborhood

Have you considered the city you currently live in, or a nearby city? Alternatively, investing out of state instead of a house hack?