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Updated about 5 years ago,

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2
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Bought a home before deciding to invest!

Posted

So, to keep this as short as possible I’ll start with -

I am 23 years old and just bought my first townhome in September of this year with an fha loan that requires $9,000 at the closing table. I am renting rooms to friends which covers Everything. There is no extra or shortage just enough to cover expenses. Which I now know this is called “house hacking”? 

I have 25k as of now i would like to invest in real estate. What would be the best thing for me to do in this situation? Put that money into this home and refinance, so I can legally rent out the whole home and buy another with an fha that I’d move into. Or, should I keep living here and buy an actual investment property with 20% down?

As I mentioned I VERY recently came across this awesome site along with other information and would like to start my journey and invest now! I would be very interested in buy and hold properties and rent for some cash flow.. 

Thank you In advance! 
-Alex


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