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Updated over 6 years ago,

User Stats

485
Posts
310
Votes
Maurice D.
  • Coppell, TX
310
Votes |
485
Posts

Live in Flip or house hacking Strategy in DFW?

Maurice D.
  • Coppell, TX
Posted

hi, I am restarting my RE investments, and looking for opinions here on my primary residence. 

I want to improve my cash flow, I live in a rental spending 1,500/mo on rent, I'd like to get my spend to less than 1K, 

I'm single, no kids so it's easy for me to move and I can get by with something small, but don't want Condos/HOA

I would also like to eventually house hack with a four plex, living in one of the units.   

my thoughts are to see if I can get into a fourplex, I have about 170K cash.   if that doesn't get me anywhere in the DFW, then my other option would be to buy a live-in flip and continue to save until I can get into a fourplex.

putting 20% down, puts me in a sub 180k range to get to a 1K mortgage included taxes.

I hear one can get a fourplex FHA loan, with as little as 15% down, but I don't think it would be good to be that leveraged on it to start with.

Thought?  what else should I be looking at?