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Updated almost 7 years ago on . Most recent reply

User Stats

22
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5
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Michael Charles
  • New York, NY
5
Votes |
22
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Debating between dream home or house hack in city?

Michael Charles
  • New York, NY
Posted

Hi everyone. I am debating between buying a single family property where I really want to live on long island (convenience, close to friends/family, location I like) vs buying a multifamily in an area in a NYC borough (Bronx) for the same price, but an area that I would not want to live (travel to work is worse etc). I always have wanted to buy a rental property and the multi family seems like the best way to break into real estate. But if we were to buy where I want to end up on long island, and save up for another multi family down the road, would that hinder my goal to buy a multi family? My question is, is it better off sacrificing early on and house hacking in a multi family in an area that isn't my first choice, or should I buy the single family home I love, and save up for a multi family as my next purchase.  Nothing against the City/Bronx, but I grew up on the island and want to live here and it is easier to commute for work. But for my price range, the only multi families I can swing would be in the Bronx, maybe some areas of Queens and BK. NYC real estate is tough. Thanks !

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