Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago, 10/14/2015
Owner occupiers: how much did you compromise starting out?
This is a sort-of repost. I noobed and accidentally posted it in my local forum.
I'm currently in the market for an owner-occupied multi-family. I'm weighing a couple of options, but there's one in particular that I think has potential as an investment. The problem is that as a home, it comes with some compromises. The place is only about 800 sq ft not including the unfinished basement), and it has no garage (I do my own vehicle maintenance). The pluses are the location, which is ideal at this price, it's turn-key (I'm not in a position to renovate), and it's an easy commute to my job. I'm assuming/hoping that as a beginner REI this is not my "forever" home. So I guess my question is, should I buy something where I have to make compromises, or should I hold out to see if something comes along that suits me better? What are your your first owner-occupied stories?