Buy house or investment property first?

[Micah Shackelford]

Hey all,

I am a 21 year old with a 50k salary. I am currently saving a large sum of my monthly income. In about 6 months I am considering buying a place instead of renting or buying my first BRRR property. Don't know which is the right move, I would be willing to house-hack a multiplex but haven't seen any pop up in the last few months. Any advice is greatly appreciated.

Thanks in advance.

[Emran Chowdhury]

Based on the preferences, I would have done the following -

1. First priority House hacking with MF i.e. Duplex, Triplex

2. Buy a SFH as owner occupied property and rent out 1/2 room if possible. Good thing is that you can get low interest mortgage or even FHA loan

3. Buy a SFH, live there for a year, then make it a rental property and move to a new house

4. Last option is to buy rental property as first purchase, dont forget you wont get best mortgage rate and you will have to put more down payment than your primary residence