What to invest in first? Residence Property or Rental Property.

[Collette Scott]

I need some advice.  I've saved over $50k.  I want to invest it, but need to want to make the good or sound decision for this time of my real estate career.  Either buy a home or my 1st rental property.  What are the pro and cons long term?  Investing in one over the other?

[Christopher Giannino]

Buying a small multi-family is definitely the way to "kill 2 birds with 1 stone." As the others have stated, you get more favorable financing because you'll be a Owner Occupant along with the experience of being a landlord but if your situation doesn't allow for buying a small multi-family, I would look into purchasing a rental first. If you go this route, I would strongly suggest that your PITI is at least 75% of your rent. By doing this, it will allow you to acquire your next property quicker because your DTI ratio shouldn't be affected.