First investment for someone who will be moving soon

[Joseph Boyd]

Hello everyone,

I am new to BP and looking to begin investing outside of the stock market. I have been working at my current job, in the oilfield, for about a year now. I currently live in Lafayette Louisiana and am looking at the markets in the 70508, 70506, and 70501 area codes. They told me when I started that I’ll be here for 1-3 years. I am currently living in an apartment and my lease is running out within the next couple of months. This being said my biggest question is:

Is it better for me to buy my first home and build equity or just invest in a rental here and wait to live somewhere more permanent to buy my first home?

Thank you

[Craig Boutte]

Have you heard the term "House Hacking"? You purchase a multi family, live in one of the units & rent out the rest. This allows you to purchase with a FHA loan getting a low interest rate & smaller down payment. Plus someone is paying the note for where you live. I think you can do that for up to the size of a 4 plex. If you search on BP you can find a lot of info on it & people that know more about it then me.