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Updated over 8 years ago,
House Hacking New Construction
Hey BP! I'm pretty new to investing and have been reading a few great books on investing. I am in the process of getting approved for a VA home loan in Virginia Beach area and am curious what my best options would be for my first deal. I know that buying a person house is more of a liability, but I am using this as an investment opportunity and not my forever home. I want to buy something that will cash flow when renting in the future.
I am looking into small multi family units, preferably only two, that way I can use my first property to house hack. My question is, would it be worth it to look into a new construction duplex and then house hack? Has anyone done something similar to this before? I would be looking at very little maintenance in the first years of owning and I know I wouldn't have any major issues with buying something with hidden major issues. I have been also trying to find single family homes that I could fix up when living in to greatly increase value and sell later or properties with income potential, i.e., small apartment on property.
Any advice on which direction I should go would be appreciated!
Britany